Honeywell (HON) Beats On Q3 Earnings & Revenues, Guides Well
Zacks Investment Research | Oct 19, 2017 10:49PM ET
Honeywell International Inc. (NYSE:HON) reported adjusted earnings of $1.75 a share in third-quarter 2017, beating the Zacks Consensus Estimate of $1.74 by 0.6%. Notably, adjusted earnings increased 4.8% on a year-over-year basis.
Operational Details
Third-quarter revenues inched up 3.2% year over year to $10,121 million and exceeded the Zacks Consensus Estimate of $10,056 million. The improvement in the bottom line can largely be attributed to higher sales accrued from the Aerospace, Home and Building Technologies and Safety and Productivity Solutions segments.
Total segment profit was $1,895 million compared with $1,720 million in the prior-year period. Overall segment profit margin improved to 18.7% from 17.5% in the prior-year period.
Operating income increased to $1,801 million from $1,534 million in the year-ago quarter. Operating margin during the quarter was 17.8%, up 220 basis points (bps).
Costs and Margins
During the quarter, Honeywell recorded a total cost of goods sold of $6,873 million compared with $6,903 million in the prior-year period. Selling, general and administrative expenses came in at $1,447 million, up 5.9% year over year. Interest expenses and other financial charges during the quarter were $81 million compared with $82 million in the prior-year period.
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