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Honeywell's Fourth Quarter and Full Year 2021 Earnings Release

 Last Update: 2022-03-06
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[ Star Enterprise of Chemical Machinery and Equipment Network ] Honeywell recently announced its fourth quarter and full-year results for 2021, and achieved various indicators that met or exceeded the range of performance guidance and forecasts in a very challenging operating environment
.

Chemical Machinery Equipment Net Star Enterprise Chemical Machinery Equipment

Sales in the fourth quarter were US$8.
657 billion, down 3% year-on-year, of which organic sales fell 2%, and market demand remained strong; orders achieved high-single-digit growth, with backlog of US$28 billion, up 7% year-on-year; Operating margin was 17.
5%, down 130 basis points; segment margin was 21.
4%, up 30 basis points; EPS of $2.
09 exceeded the midpoint of the company's guidance range
.

2021 sales of $34.
392 billion, up 5% year-over-year, organic sales up 4%, operating margin up 50 basis points, segment margin up 60 basis points, the company's adjusted full-year EPS of $8.
06, exceeding initial The upper limit of the performance guidance range
.

Honeywell Chairman and Chief Executive Officer Ruizhe Du said: "Honeywell has once again closed out a challenging year strongly as we remain resilient and focus on operations to deliver on our commitment to our shareholders
.
"

Honeywell's strategy focused on delivering differentiated solutions, driving business lines such as Warehousing and Workflow Solutions, Productivity Solutions and Services, Business Jet and General Aviation, Performance Materials and General Connected Software to achieve two positions in 2021 Number of organic sales growth
.

　　Honeywell delivered a 60 basis point increase in segment margins and a 14% year-over-year increase in adjusted EPS for the full year, with strict cost management, rapid pricing measures to address inflation ahead of schedule, and further productivity gains
.
In addition, we generated strong cash flow during the year, delivering $6.
0 billion in operating cash flow (109% conversion rate) and $5.
7 billion in free cash flow (102% adjusted conversion rate).
Profit margins reached 17%
.

　　Honeywell's balance sheet remains strong
.
Honeywell continues to focus and execute on its capital deployment strategy, including investing in high-return capital expenditures, repurchasing $3.
4 billion in Honeywell stock, completing four acquisitions and declaring its 12th dividend increase in 11 years
.
Capital deployment in 2021 exceeded operating cash flow, and Honeywell will continue to do so in 2022
.

　　Du Ruizhe concluded: "The macroeconomic environment is challenging, but I am very proud of what Honeywell has achieved
.
By introducing alternative suppliers, redesigning components and implementing pricing initiatives, supply chain challenges and inflation have been quickly alleviated In addition, we
remain focused on growth and continue to invest in emerging markets and technologies, such as environmental, social and corporate governance (ESG) enabling solutions and the creation of advanced integrated independent quantum computing companies Quantinuum
.
Heading into 2022 with a solid backlog, I am confident that we are well-positioned to continue to benefit our shareholders, customers and employees, both in the short and long term
.
"

　　For 2022 and beyond, Honeywell also made an outlook:

　　The company's sales are expected to reach US$35.
4 billion-36.
4 billion; the year-on-year organic growth rate is 4%-7%, or 5%-8% (excluding the impact of epidemic-related decline in mask sales);

　　Segment margin improvement of 10-50 basis points, including a 30 basis point impact from the newly merged Quantinuum business;

　　Earnings per share reached $8.
40-8.
70, up 4%-8% on an adjusted basis;

　　Operating cash flow was $5.
7 billion to $6.
1 billion, and free cash flow was $4.
7 billion to $5.
1 billion
.

　　Original title: Honeywell fourth quarter and full year 2021 financial report released

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