Industrial conglomerate Honeywell (NASDAQ:HON) will be reporting results this Thursday before market hours. Here’s what to expect.
Honeywell missed analysts’ revenue expectations by 7% last quarter, reporting revenues of $9.44 billion, up 7% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ organic revenue estimates but a significant miss of analysts’ revenue estimates.
Is Honeywell a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Honeywell’s revenue to grow 8.1% year on year to $9.91 billion, a reversal from the 2.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.54 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Honeywell’s peers in the general industrial machinery segment, some have already reported their Q4 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 17.6%, beating analysts’ expectations by 13.9%, and Crane reported revenues up 6.8%, topping estimates by 1.9%. GE Aerospace traded down 7.7% following the results while Crane was also down 11.5%.
Read our full analysis of GE Aerospace’s results here and Crane’s results here.
There has been positive sentiment among investors in the general industrial machinery segment, with share prices up 9.3% on average over the last month. Honeywell is up 12.1% during the same time and is heading into earnings with an average analyst price target of $236.44 (compared to the current share price of $220.71).
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