After announcing its quarterly results for the first quarter of 2021 a few days ago, Honeywell International is once again in the news. Indeed, this time, the industrial group has addressed the issues related to its prospects for the second quarter and for the entire current year. Thus, it says it maintains its financial targets for both periods.
In the first quarter of 2021, diversified industrial group Honeywell delivered better-than-expected results, beating even the consensus. For the first three months of the current fiscal year as a whole, the company posted earnings of $2.03 per share, down 8% from the same period last year.
EPS, meanwhile, came in at $1.92 (adjusted) in Q1-2021. This is a sharp 13% year-on-year decline. However, it was higher than Wall Street's expectations of $1.80 per share.
Also, the industrial conglomerate did better than expected in terms of sales. The latter amounted to 8.454 billion dollars for the whole quarter. They exceeded the market's expectations of $8.1 billion.
Honeywell International reaffirmed its outlook for the second quarter and for the current year as a whole. This was done at a conference organised by Wolfe Research, a company based on Wall Street.
For the current quarter, Honeywell is still targeting net earnings per share of between $1.86 and $1.96. The consensus is for $1.93. As for its annual targets, the industrial conglomerate expects to achieve sales in the range of $34 billion to $34.8 billion for the full year 2021.
This forecast is slightly lower than that of analysts. The latter expect an average annual turnover of $34.9 billion for the current financial year. Also, the group is targeting sales growth between 3% and 5%.
Founded in 1906, Honeywell is a US-based company active in the aerospace, nuclear, defense, home automation and building automation industries. In recent years, the group has become a major supplier to the automotive industry.
With 120 years ofindustrial expertise, the company deploys its product and service offerings in every country in the world. The company is the world leader in the field of building security.
In addition, the company has several sites located throughout the world. In France, it is located on more than 40 sites. In addition, the Honeywell group has a workforce of over 130,000 employees worldwide. It is composed of nearly 19,000 professional engineers. They are specialized in the design and development of future technologies.