Honeywell raises Q2 adjusted EPS view to $2.35-$2.45 from $2.25-$2.35

Consensus $2.49. Raises Q2 revenue view to $9.3B-$9.6B from $9.2B-$9.5B, consensus $9.71B. Beginning in the second quarter, Honeywell will exclude the impact of amortization expense for acquisition-related intangible assets and other acquisition-related costs4, including the related tax effects, from segment profit and adjusted earnings per share. The company believes this change provides investors with a more meaningful measure of its performance period to period, aligns the measure to how management will evaluate performance internally, and makes it easier for investors to compare our performance to peers. Honeywell plans to provide historical non-GAAP financials under this new basis to facilitate comparability when the company reports its second quarter results in July 2024. The company said, “Honeywell also updated its second-quarter sales, segment margin2, and adjusted earnings per share2,3 guidance. Second-quarter sales are expected to be $9.3 billion to $9.6 billion, with organic1 sales growth of 1% to 4%. Segment margin2 is expected to be 22.7% to 23.1%, down 40 basis points to flat compared to the prior year period. Adjusted earnings per share2,3 is expected to be in the range of $2.35 to $2.45, up 2% to 7% compared to the prior year.”