Honeywell reports Q1 adjusted EPS $2.25, consensus $2.17

Reports Q1 revenue $9.11B, consensus $9.03B. Reports backlog up 6% year over year to $32B on $10.2B in orders. “Honeywell delivered a strong start to 2024. Organic growth was led by double-digit growth in both our commercial aviation and defense and space businesses,” said Vimal Kapur, chief executive officer of Honeywell. “As long-cycle customer demand remained strong, our robust backlog increased 6% year over year and was up sequentially, ending the quarter at a record level of $32.0 billion. We also experienced pockets of recovery in short cycle, and expect broader participation as the year unfolds and channels normalize further. Improving business mix, continued focus on commercial excellence, and productivity actions enabled us to expand margins in line with the high end of our guidance range and overdeliver on our adjusted earnings per share guidance.”