Honeywell beats by $0.02, reports revs in-line; raises low end of FY14 EPS, reaffirms FY14 revs guidance (93.30)
Reports Q1 (Mar) earnings of $1.28 per share, $0.02 better than the Capital IQ Consensus Estimate of $1.26; revenues rose 3.8% year/year to $9.68 bln vs the $9.74 bln consensus; organic sales +1%.
Co issues guidance for FY14, raises EPS to $5.40-5.55 from $5.35-5.55 vs. $5.54 Capital IQ Consensus Estimate; reaffirms FY14 revs +3-4% to $40.3-40.7 bln vs. $40.8 bln Capital IQ Consensus Estimate; reaffirms margins; raises FCF to $3.8-4.0 bln from $3.5-3.7 bln.
"We saw 3% organic sales growth ex-Defense & Space, with strong execution across each of the businesses driving earnings above the high-end of our guidance. We remain cautiously optimistic on the macro environment, even with some nice momentum exiting the quarter in our short-cycle and long-cycle businesses driving organic sales growth acceleration as we progress through the year."
Co issues guidance for FY14, raises EPS to $5.40-5.55 from $5.35-5.55 vs. $5.54 Capital IQ Consensus Estimate; reaffirms FY14 revs +3-4% to $40.3-40.7 bln vs. $40.8 bln Capital IQ Consensus Estimate; reaffirms margins; raises FCF to $3.8-4.0 bln from $3.5-3.7 bln.
"We saw 3% organic sales growth ex-Defense & Space, with strong execution across each of the businesses driving earnings above the high-end of our guidance. We remain cautiously optimistic on the macro environment, even with some nice momentum exiting the quarter in our short-cycle and long-cycle businesses driving organic sales growth acceleration as we progress through the year."