Honeywell raised its profit outlook above Wall Street expectations, even when accounting for the separation of its advanced-materials business, slated for the end of October. ...

Financial Performance - Honeywell's Q3 2025 adjusted earnings per share was $2.82, exceeding the guidance range of $2.50-$2.60[20] - Organic sales grew by 6% in Q3 2025, driven by double-digit growth in commercial aftermarket and defense and space[20] - Orders increased by 22% year-over-year, resulting in a book-to-bill ratio of 1.1x[20] - The company is raising its full-year organic growth and EPS guidance, including the effect of the Solstice spin-off in October[4] - Free cash flow for Q3 2025 was $1.5 billion[20] Portfolio Transformation - The spin-off of Solstice Advanced Materials was completed in October 2025, with Honeywell receiving a $1.5 billion dividend[10] - Honeywell expects to spin off Honeywell Aerospace in the second half of 2026[7] - Quantinuum raised over $600 million in a fundraising round in September, valuing the company at $10 billion pre-money, which is 2x prior 2024 valuation[15,19] Segment Results - Aerospace Technologies sales were up 12% organically in Q3 2025[23] - Building Automation sales were up 7% organically in Q3 2025, with segment margin up 80 bps[23] - Energy and Sustainability Solutions sales were down (2%) organically in Q3 2025[23]

Honeywell International Inc. (HON) came out with quarterly earnings of $2.82 per share, beating the Zacks Consensus Estimate of $2.56 per share. This compares to earnings of $2.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +10.16%. A quarter ago, it was expected that this company would post earnings of $2.64 per share when it actually produced earnings of $2.75, delivering a surprise of +4.17%.Over the last four quarters, ...

Core Viewpoint - Honeywell raised its 2025 profit forecast, indicating strong growth prospects driven by robust aerospace demand, despite the planned separation of its advanced materials unit, Solstice, which will begin trading independently on October 30 [1][2] Financial Performance - Honeywell surpassed Wall Street expectations for its third-quarter results, reporting overall sales of $10.41 billion, a 7% increase, and exceeding analysts' average estimate of $10.14 billion [2][5] - The adjusted profit per share for the quarter was $2.82, surpassing expectations of $2.57 [5] - The aerospace business, Honeywell's largest revenue driver, saw a 15% increase in sales to $4.51 billion in the third quarter [3] Future Outlook - Honeywell now expects full-year adjusted earnings per share to be between $10.60 and $10.70, which includes a 21 cent impact from the Solstice separation, up from a previous expectation of $10.24 to $10.44 [3] - The advanced materials unit, Solstice, is part of Honeywell's strategy to split into three independent companies, with the aerospace unit set to be carved out in the second half of 2026 [4] Industry Context - Aerospace suppliers are experiencing strong demand for parts due to increased production by planemakers amid booming new jet demand, which has also benefited Honeywell's maintenance and repair services as airlines operate older aircraft [2]

Core Insights - A wave of positive third-quarter 2025 earnings reports has boosted markets, with several major companies exceeding analyst expectations, while ongoing geopolitical developments, particularly concerning Ukraine and Russia, remain a significant focus [2]. Strong Q3 Earnings Performance Across Sectors - Hasbro (HAS) reported adjusted EPS of $1.68, beating the estimated $1.63, with revenue of $1.39 billion surpassing the forecast of $1.34 billion. The company raised its full-year adjusted EBITDA guidance to $1.24 billion to $1.26 billion from $1.17 billion to $1.20 billion, driven by growth in its Wizards of the Coast and Digital Gaming segments [3][10]. - Honeywell (HON) posted adjusted EPS of $2.82, significantly higher than the estimated $2.57, with quarterly revenue of $10.41 billion exceeding the $10.15 billion estimate. The company updated its full-year sales outlook to between $40.78 billion and $40.98 billion and adjusted EPS to $10.60 to $10.70 [4][10]. - First Citizens BancShares (FCNCA) announced adjusted EPS of $44.62, outperforming the $41.74 estimate, with net interest income of $1.73 billion above the $1.71 billion estimate and a net interest margin of 3.26%, slightly higher than the estimated 3.24% [5][10]. - TransUnion (TRU) reported adjusted net income of $216 million against an estimate of $204.3 million, with Q3 EPS of $0.49 and adjusted EPS of $1.10 versus an estimate of $1.04. Revenue for the quarter was $1,170 million, exceeding the $1,133 million estimate [6]. - CenterPoint Energy (CNP) reported adjusted EPS of $0.50, surpassing the $0.44 estimate, and reaffirmed its full-year adjusted EPS guidance of $1.75 to $1.77. PG&E (PCG) announced Q3 adjusted core EPS of $0.50, beating the estimated $0.43, and maintained its full-year adjusted EPS forecast between $1.49 and $1.51 [7]. - Atlas Copco reported Q3 adjusted EBIT of SEK 8,862 million, exceeding the estimate of SEK 8,677 million, with revenue of SEK 41,621 million slightly above the estimated SEK 41,333 million [8]. - Dow (DOW) reported Q3 adjusted EPS of -$0.19, better than the estimated -$0.29, but net sales of $9,973 million fell short of the estimated $10,185 million [9][10]. Tesla's Capital Expenditures and Geopolitical Landscape - Tesla (TSLA) recognized $238 million in expenses within its automotive segment during Q3, primarily due to charges for supercomputer assets, contract terminations, and employee terminations. The company expects full-year capital expenditures to be around $9.00 billion [11][10]. - On the geopolitical front, Ukrainian President Volodymyr Zelenskiy urged EU leaders to enhance Ukraine's long-range capabilities to counteract Russia, while Russia's Rosatom CEO warned that deteriorating Russia-U.S. relations could impact uranium supplies [12].

Core Insights - The industrial conglomerate reported an increase in third-quarter profit as it moves ahead with its separation plans [1] Group 1 - The company is progressing with its separation plans, which is contributing to the increase in profit [1]

Group 1 - The core point of the article is that Honeywell reported adjusted earnings per share of $2.82 for the third quarter, exceeding market expectations of $2.57 [1] - Honeywell's third-quarter revenue reached $10.41 billion, surpassing market expectations of $10.15 billion [1]

格隆汇10月23日｜霍尼韦尔盘前上涨3.7%。消息面上，霍尼韦尔第三季度经调整每股收益2.82美元，市 场预期为2.57美元；营收104.1亿美元，市场预期为101.5美元。 ...

每经AI快讯，10月23日，霍尼韦尔盘前上涨3.7%。 ...

Financial Performance - Third-quarter sales reached $10.4 billion, reflecting a 7% year-over-year increase and 6% organic sales growth, exceeding the high end of previous guidance [4] - Earnings per share for the third quarter was $2.86, a 32% increase year-over-year, while adjusted earnings per share was $2.82, up 9% year-over-year [4] - Honeywell reported net sales of $10,408 million for the three months ended September 30, 2025, an increase of 7% compared to $9,728 million in the same period of 2024 [24] - The company's net income attributable to Honeywell for the three months ended September 30, 2025, was $1,825 million, up from $1,413 million in the same period of 2024, representing a 29% increase [24] - Honeywell's adjusted earnings per share for the nine months ended September 30, 2025, was $7.57, compared to $6.79 for the same period in 2024, marking an increase of 11.5% [24] - Segment profit for Honeywell in Q3 2025 was $2,407 million, compared to $2,296 million in Q3 2024, indicating a 4.8% increase [46] - For the three months ended September 30, 2025, diluted earnings per share increased to $2.86 from $2.16 in 2024, representing a growth of 32.3% [54] Sales and Growth - Total backlog reached a record high, with orders increasing by 22%, driven by strong performance in Aerospace Technologies and Energy and Sustainability Solutions [4] - Aerospace Technologies sales grew 12% organically year-over-year, with commercial aftermarket sales increasing by 19% [8] - Building Automation sales increased 7% organically, supported by growth in North America and the Middle East [9] - Energy and Sustainability Solutions sales decreased 2% year-over-year on an organic basis, with advanced materials growing 5% [9] - Aerospace Technologies segment net sales increased to $4,511 million in Q3 2025, compared to $3,912 million in Q3 2024, reflecting a growth of 15% [26] - Reported sales percent change for Honeywell in Q3 2025 was 7%, with organic sales percent change at 6% after adjusting for foreign currency translation [41] - Aerospace Technologies reported a sales percent change of 15% in Q3 2025, with an organic sales percent change of 12% [41] - Industrial Automation experienced a reported sales percent change of (9)% in Q3 2025, with an organic sales percent change of 1% [41] Financial Guidance and Projections - Full-year sales guidance has been raised to $40.7 billion to $40.9 billion, with organic sales growth expected to be approximately 6% [5] - Segment margin is projected to be in the range of 22.9% to 23.0%, with an expected year-over-year expansion of 30 to 40 basis points [5] - Operating cash flow for the year is now expected to be between $6.4 billion and $6.8 billion, while free cash flow is projected to be between $5.2 billion and $5.6 billion [5] - The expected cash provided by operating activities for the twelve months ended December 31, 2025, is projected to be between $6.4 billion and $6.8 billion, excluding the impact of the Solstice spin-off [65] - The anticipated capital expenditures for the twelve months ended December 31, 2025, are approximately $1.3 billion [65] - Adjusted earnings per share for the twelve months ended December 31, 2025, is expected to be in the range of $10.60 to $10.91, compared to $9.89 for the twelve months ended December 31, 2024, indicating a projected increase of 7.2% to 10.2% [54] Cash Flow and Investments - Operating cash flow for the nine months ended September 30, 2025, was $5,204 million, compared to $3,816 million for the same period in 2024, reflecting a 36% increase [34] - Cash provided by operating activities for the three months ended September 30, 2025, was $3.288 billion, up from $1.997 billion in 2024, reflecting a growth of 64.5% [61] - Free cash flow for the three months ended September 30, 2025, was $1.450 billion, compared to $1.718 billion in 2024, showing a decrease of 15.6% [61] - Net cash used for investing activities in Q3 2025 was $(488) million, a significant decrease from $(2,797) million in Q3 2024 [34] - Honeywell's capital expenditures for the nine months ended September 30, 2025, totaled $(928) million, compared to $(771) million for the same period in 2024, reflecting a 20% increase [34] Strategic Initiatives - The company is progressing with its separation into three publicly-listed entities, with the spin-off of Solstice Advanced Materials set for October 30, 2025 [6] - The company plans to spin off its Advanced Materials business into a standalone entity, Solstice Advanced Materials, which is expected to be publicly traded [20] - Honeywell is evaluating strategic alternatives for its Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, indicating potential market expansion strategies [20] Research and Development - Research and development expenses for the three months ended September 30, 2025, were $497 million, up from $368 million in the same period of 2024, representing a 35% increase [24] Assets and Liabilities - Honeywell's total assets increased to $80,917 million as of September 30, 2025, compared to $75,196 million at the end of 2024, reflecting a growth of 7.2% [32] Adjustments and Other Financial Metrics - The adjustment for divestiture-related costs for the three months ended September 30, 2025, was $382 million, net of tax expense of $115 million [56] - The expected adjustment for acquisition-related intangibles amortization for the twelve months ended December 31, 2025, is approximately $460 million, net of tax benefit of approximately $110 million [56] - The gain related to the Resideo indemnification and reimbursement agreement termination for the three months ended September 30, 2025, was $802 million [56] - The adjustment for loss on expected settlement of divestiture of asbestos liabilities for the three months ended September 30, 2025, was $112 million, net of tax benefit of $36 million [56]