Honeywell International Inc. (NYSE:HON) today announced financial results for the first quarter of 2019 and raised its full-year sales and earnings per share guidance.
Sales for the first quarter were down 15% on a reported basis and up 8% on an organic basis. Earnings per Share were $1.92, up 2%, up 13%.
Operating income margin was up 190 basis points to 18.5%. Operating cash flow was $1.1 Billion. Adjusted free cash flow was $1.2 Billion.
CEO Darius Adamczyk,"Honeywell delivered a very strong start to 2019 with first-quarter results that exceeded the high end of our sales and earnings guidance. Organic sales grew 8% led by our long-cycle businesses in commercial aerospace, defense, and warehouse and process automation, and strong demand for commercial fire and security products.
"Our robust sales growth, supported by winning positions in attractive end markets and the continuous improvements we are making across our supply chain, drove earnings per share of $1.92, seven cents above the high end of our first-quarter guidance and up 13% excluding the impact of the spinoffs."
As a result of HON’s first-quarter performance and our confidence in our ability to continue to deliver for our shareowners, the company is raising our full-year earnings per share guidance to a new range of $7.90 to $8.15, and organic sales guidance to a new range of 3% to 6%.
Honeywell is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services. Its shares started Thursday up $5.25, or 3.2%, to $168.14
