Honeywell Profit Edges Past Street’s Estimate, Maintains Outlook on 2013 Earnings (HON)
NYSE: HON) efforts to enhance productivity across all business segments are paying off.
Indeed, although Company’s Chief Executive David Cote, who was one of the strongest voice in corporate America calling lawmakers in Washington to find a middle path on the ‘fiscal cliff’ issue, maintains a cautious outlook on the global macroeconomic environment in 2013, the company , thanks to its productivity-enhancement campaign, expects to deliver full-year earnings in line with its earlier guidance. The company expects full year earnings in the range of $4.75 a share to $4.95 a share.
While fiscal fourth-quarter earnings came ahead of Street’s estimate by a whisker, the company expects its earnings to climb 6% to 11% in the first quarter of fiscal 2013.
Honeywell, which is a diversified technology and manufacturing company providing services to array of industries, reported earnings of $251 million, or 32 cents a share, in the fourth quarter compared to a loss of $310 million, or 40 cents a share, in the year earlier quarter.
After excluding onetime items, earnings on adjusted basis, (non-GAAP) came at $1.10 a share, a penny above of what analysts’ had forecasted, according to data compiled by Thomson Reuters.
On the whole, profit margins widened to 15.6 percent of sales from 15.1 percent, in the year earlier quarter as Cote has been pressing to enhance productivity across all four business segments.
Revenue rose 1 percent to $9.58 billion from $9.47 billion, in the same period of last year.
Among company’s different revenue segment, sales growth in performance materials unit, whose product line include chemicals and equipment used in oil and gas production, was the strongest, climbing 8% in the quarter. Sales in the transportation systems unit, which include products such as automobile turbochargers, plunged 11 percent in the fiscal fourth quarter.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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