Honeywell raises FY24 adjusted EPS view to $10.15-$10.45 from $9.80-$10.10

Consensus $9.93. Raises FY24 revenue view to $38.5B-$39.3B from $38.1B-$38.9B, consensus $38.45B. Honeywell announced the completion of its acquisition of Carrier Global Corporation’s (CARR) Global Access Solutions business for $4.95B. The company said, “As a result of the acquisition closing, Honeywell has updated its full-year sales, segment margin2, and adjusted earnings per share2,3 guidance (under the amended calculation). Full-year sales are now expected to be $38.5 billion to $39.3 billion, including organic1 sales growth of 4% to 6%. Segment margin2 is expected to be in the range of 23.8% to 24.1%, with segment margin expansion2 of 30 to 60 basis points. Adjusted earnings per share2,3 is expected to be in the range of $10.15 to $10.45. Operating cash flow is expected to be in the range of $6.7 billion to $7.1 billion, with free cash flow1 of $5.6 billion to $6.0 billion. A summary of the changes to the company’s full-year guidance can be found in Table 1.”