Honeywell Earnings: HON Stock Jumps 2% After Q3 Results

Honeywell (NYSE:HON) earnings for the creator of commercial and consumer products’ third quarter of 2019 have HON stock heading higher on Thursday. This is due to its adjusted per-share earnings of $2.08. That comes in above Wall Street’s estimate of $2.01 for the quarter. Revenue of $9.09 billion misses analysts’ estimate of $9.11 billion for the period.

Honeywell Earnings: HON Stock Jumps 3% After Q3 Results

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Let’s take a closer look at the most recent Honeywell earnings report.

  • EPS comes in 2.46% higher than the $2.03 reported in the third quarter of 2018.
  • HON’s revenue of $9.09 billion is down 15.52% YoY from $10.76 billion.
  • It attributes the decline in revenue to spinoffs from 2018.
  • The Honeywell earnings report also includes net income of $1.65 billion.
  • This is down 30.09% from the $2.36 billion reported during the same time last year.

Darius Adamczyk, Chairman and CEO of HON, says this in the Honeywell earnings report.

“Overall, we had a strong third quarter, which was a continuation of very strong performance year-to-date. We are well positioned in attractive end markets with multiple levers for value creation heading into 2020.”

The Honeywell earnings report also has the company updating its outlook for 2019. It’s now expecting adjusted per-share earnings between $8.10 and $8.15 on revenue ranging from $36.70 billion to $36.90 billion. The previous guidance was for adjusted earnings per share of $7.95 to $8.15 on revenue between $36.70 billion and $37.20 billion. Wall Street is looking for adjusted EPS of $8.09 with revenue of $36.94 billion for 2019.

HON stock was up 3.15% as of Thursday afternoon. It’s also up 24.24% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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