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Q2 2015 EARNINGS CALL – Honeywell International Inc.

Honeywell International Inc. · Jul 17, 2015 · 21 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 1
    HONEYWELL SECOND QUARTER 2015 Earnings Release
  2. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 2
    3 OVERVIEW Improving Top-Line And Continued Margin Expansion - Sales Of 9.8B, +3% Core Organic* Driven By Commercial Aero, ESS And Advanced Materials - Reported Sales Decline 5% Resulting From F/X And Friction Materials…
  3. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 3
    4 2Q 2015 FINANCIAL SUMMARY (M except per share amounts) 2Q14 2Q15 Sales 10,253 9,775 5% Decrease Core Organic Up 3% Segment Profit 1,709 1,803 6% Increase 170 bps Margin Expansion Margin % 16.7% 18.4% Net Income 1,099…
  4. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 4
    5 2Q 2015 SEGMENT MARGIN EXPANSION +30 bps +10 bps +20 bps Pricing Model Top-Line Protects Profit Closed Sale Of Headwinds Dollars +110 bps FM In July 2014 Remain Hedging Protects Income 18.4% HOS Gold Commercial…
  5. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 5
    6 AEROSPACE Sales Segment Margin (M) Down 5% Up 140 bps F/X, FM Commercial OE +6%, Core Organic +6% Segment Profit Up 2% - Strong BGA Engine Shipments Segment Margin Up 140 bps Commercial AM +2%, Core Organic +3% -…
  6. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 6
    7 AUTOMATION AND CONTROL SOLUTIONS Sales Segment Margin (M) Down 1% Up 120 bps ESS Flat, Core Organic Up 5% Segment Profit Up 6% - Scanning & Mobility Volume From Key Wins - Fire Safety And Security Growth Globally Segment…
  7. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 7
    8 PERFORMANCE MATERIALS AND TECHNOLOGIES Sales Segment Margin (M) Down 9% Up 330 bps Down 1% F/X, R&C Core Organic UOP Down 10%, Core Organic Down 8% Segment Profit Up 7% - Difficult Catalyst Shipments Comps -…
  8. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 8
    9 3Q15 PREVIEW Sales Change Margin Change Comments BGA Engine Deliveries Aero (2%) - Flat Up 80 - 100 bps Continued R&O Growth D&S International Growth 3 - 4% Core Organic Diesel, Gas Turbo Volumes ACS (2%) - Flat Up 50 - 70…
  9. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 9
    10 2015 PLANNING UPDATE % HON 2H YoY Outlook Sales - Neutral + What Were Seeing / Expecting 29% Continued Commercial Growth (Fire, Security) Non- Good Growth Americas And APAC, Europe Stable Residential Building Solutions…
  10. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 10
    11 2015 FINANCIAL GUIDANCE SUMMARY (B except per share amounts) 2014 2015E V% Comments Sales 40.3 39.0 - 39.6 (2) - (3)% Core Organic Up 3% Segment Profit 6.7 7.2 - 7.4 8 - 10% Margin % 16.6% 18.4 - 18.6% 180 - 200 bps 140-160…
  11. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 11
    12 SUMMARY Another Quarter Of Double-Digit Earnings Growth - Earnings At High End Of Guidance Range - Continued Margin Expansion In All Businesses Expect Continued Outperformance In 2015 - Core Organic Sales Growth Momentum -…
  12. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 12
    13 Appendix Reconciliation of non-GAAP Measures to GAAP Measures 2Q 2015 Earnings Release July 17, 2015
  13. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 13
    14 RECONCILIATION OF SEGMENT PROFIT TO OPERATING INCOME AND CALCULATION OF SEGMENT PROFIT AND OPERATING INCOME MARGINS (M ) 2Q14 3Q14 2Q15 Aerospace 759 790 777 Automation and Control Solutions 533 583 567 Performance Materials…
  14. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 14
    15 RECONCILIATION OF SEGMENT PROFIT TO OPERATING INCOME AND CALCULATION OF SEGMENT PROFIT AND OPERATING INCOME MARGINS (M ) 2014 Aerospace 2,915 Automation and Control Solutions 2,200 Performance Materials and Technologies…
  15. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 15
    16 RECONCILIATION OF SEGMENT PROFIT TO OPERATING INCOME AND CALCULATION OF SEGMENT PROFIT AND OPERATING INCOME MARGINS (B) 2015E Segment Profit 7.2 - 7.4 Stock Based Compensation (1) (0.2) Repositioning and Other (1, 2) (0.5)…
  16. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 16
    17 RECONCILIATION OF CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW (M ) 2Q14 2Q15 2014 Cash Provided by Operating Activities 1,341 1,408 5,024 Expenditures for Property, Plant and Equipment (229) (243) (1,094) Free…
  17. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 17
    18 CALCULATION OF EPS AT TAX RATE OF 26.5% (M except per share amounts) 2Q14 3Q14 2Q15 Income Before Taxes 1,523 1,580 1,662 Taxes at 26.5% 404 419 440 Net Income at 26.5% Tax Rate 1,119 1,161 1,222 Less: Net Income…
  18. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 18
    19 RECONCILIATION OF EPS TO EPS, EXCLUDING PENSION MARK-TO-MARKET ADJUSTMENT 2014(1) EPS 5.33 Pension Mark-to-Market Adjustment 0.23 EPS, Excluding Pension Mark-to-Market Adjustment 5.56 (1) Utilizes weighted average shares…
  19. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 19
    20 RECONCILIATION OF NET INCOME TO NET INCOME, EXCLUDING PENSION MARK-TO-MARKET ADJUSTMENT (M ) 2014(1) Net Income Attributable to Honeywell 4,239 Pension Mark-to-Market Adjustment, Net of Tax 179 Net Income Attributable to…
  20. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 20
    21 NET CASH RECONCILIATION (M ) 2Q15 2014 Cash and cash equivalents 5,954 6,959 Short term available for sale investments 3,162 1,463 Total 9,116 8,422 Commercial Paper 2,795 1,647 Current maturities of long-term debt 1,337…
  21. Q2 2015 EARNINGS CALL – Honeywell International Inc. – slide 21
    22 CORE ORGANIC SALES GROWTH RECONCILIATIONS Honeywell 2Q15 Reported sales growth (5%) Foreign currency, acquisitions, divestitures and other 7% Raw Materials Pricing in R&C 1% Core organic sales growth 3% PMT 2Q15 Reported…

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