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Honeywell Announces Fourth Quarter 2019 Earnings and Outlook for 2020

 Last Update: 2022-08-21
 Source: Internet
 Author: User

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- Fourth-quarter sales down 2% and organic sales up 2% due to 2018 spin-offs

- Fourth quarter EPS of $2.
16; adjusted EPS of $2.
06, up 11% excluding spin-offs1

- Full-year operating cash flow of $6.
9 billion; Adjusted free cash flow2 of $6.
3 billion, a conversion rate of 105%

- 2020 EPS of $8.
60-$9.
00, up 5%-10% on an adjusted basis

CHARLOTTE, NC, USA, February 4, 2020 - Honeywell today announced fourth quarter and full year 2019 financial results and a 2020 outlook

CHARLOTTE, NC, USA, February 4, 2020 - Honeywell today announced fourth quarter and full year 2019 financial results and a 2020 outlook
.

System ms ms

The company also announced its 2020 outlook

"2019 was another exciting year for Honeywell

Fourth quarter results

Honeywell's fourth-quarter sales fell 2%, while organic sales rose 2%

The Aerospace Group posted organic sales growth of 7% in the fourth quarter, driven by continued strong performance in the Defense and Space business, growth in the air transportation commercial aftermarket, and stable demand for commercial aviation original equipment

The Smart Building Technologies Group posted organic sales growth of 3% in the fourth quarter, primarily due to steady demand for commercial fire protection and building management products, as well as growth in the Americas and Europe security business

Performance Materials and Technology Group sales grew organically by 3% in the fourth quarter, driven by continued outperformance in the Process Control segment, particularly in Projects, Services and Smart Energy, as well as UOP Equipment and Petroleum Strong growth in the Chemical Catalysts business was partially offset by a decline in the Performance Materials business due to continued illegal imports of hydrofluorocarbons (HFCs) in the European market and weaker demand for specialty products

Safety and Productivity Solutions Group sales fell organically by 11% in the fourth quarter, mainly due to lower productivity solutions sales and lower demand for personal protective equipment in the safety business, impacted by Intelligrated's schedule control of large systems projects.
The impact more than offset the favorable impact of stable market demand for gas sensing products

.
The Intelligrated business maintained steady order growth for the second quarter in a row, with a year-over-year growth rate of more than 100% in the fourth quarter, allowing us to end 2019 with a more than 30% increase in order backlog
.
Segment profit margin fell 330 basis points to 12.
7%, mainly due to lower volumes in the Productivity Solutions segment and the impact of sales mix
.

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