Honeywell(US:HON) The Motley Foolยท2024-10-24 16:09Core Viewpoint - Honeywell International reported a slight earnings beat, but overall revenue was soft, leading to a decline in share price by 4% [1][2]. Financial Performance - The company reported third-quarter earnings of $2.58 per share, exceeding expectations by $0.07, while revenue was $9.73 billion, falling short of the $9.9 billion consensus [2]. - Earnings were positively impacted by a lower-than-expected share count and effective tax rate, but segment profits aligned with expectations [2]. - Aerospace sales decreased by 2%, industrial automation sales fell by 5%, energy remained flat, and building automation increased by 3% year over year [2]. Strategic Moves - Honeywell is undergoing a portfolio transformation, planning to spin off its advanced material business, similar to previous divestitures of automotive and security units [3]. - The company completed approximately $3.7 billion in acquisitions during the quarter while continuing share repurchases and maintaining a dividend yield of over 2% [3]. Market Position - Despite having a diverse set of assets, Honeywell's stock has underperformed the S&P 500 over the past five years, leading investors to remain cautious [3]. - The company raised the lower end of its full-year 2024 earnings guidance but lowered its revenue and free cash flow forecasts [2].