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Second Quarter 2014 Earnings Release – Honeywell International Inc.

Honeywell International Inc. · Jul 1, 2014 · 19 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. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 1
    Second Quarter 2014 Earnings Release
  2. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 2
    Overview Improving Top-Line And Double-Digit Earnings Growth - Sales 10.3B, Up 6%, +3% Organic; Segment Margin 16.7%, Up 70 bps ex-M&A - EPS 1.38, Up 12% Normalized For Tax - Free Cash Flow 1.1B, FCF Conversion 101% Confident In…
  3. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 3
    2Q 2014 Financial Summary (M except per share amounts) 2Q13 2Q14 Sales 9,693 10,253 6% Increase Up 3% Organic Segment Profit 1,559 1,709 10% Increase 60 bps Margin Expansion Margin % 16.1% 16.7% 70 bps Margin Expansion…
  4. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 4
    Aerospace Sales Segment Margin (M) Flat Organic Flat Up 30 bps 2,997 2,991 19.5% 19.8% 2Q13 2Q14 2Q13 2Q14 Commercial OE Flat Segment Profit Up 2% - Strong Air Transport Shipments - Engine Shipment Timing, BGA OEM…
  5. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 5
    Automation and Control Solutions Sales Segment Margin (M) Up 10% Up 50 bps Organic 3% Up 80 bps ex-M&A 3,607 14.3% 14.8% 3,270 2Q13 2Q14 2Q13 2Q14 ESS Up 15%, Up 4% Organic Segment Profit Up 14% - Continued Strong…
  6. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 6
    Performance Materials and Technologies Sales Segment Margin (M) Up 6% Up 30 bps Organic 6% 2,479 2,636 17.7% 18.0% 2Q13 2Q14 2Q13 2Q14 UOP Up 17% Segment Profit Up 8% - Strong Catalysts, Gas Processing Growth - Record…
  7. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 7
    Transportation Systems Sales Segment Margin (M) Up 8% Up 310 bps Organic 4% 16.4% 947 1,019 13.3% 2Q13 2Q14 2Q13 2Q14 Continued Strong Win Rate Segment Profit Up 33% - HON Gas And Diesel Launch Gains - Growth Production…
  8. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 8
    3Q14 Preview Sales Change Margin Change Comments Comml OE Flat (ATR+ BGA-) Aero w/ TS (2%) - Flat Up 150 bps Comml AM Modest Acceleration D&S Up Low-Mid Single Digit 2 - 3% Organic TS FM Divest; Steady Org Growth ACS 8 - 10% Up…
  9. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 9
    2014 Segment Guidance Prior Outlook Current Outlook (Mid Pt Of Guidance) Sales Margin Sales Margin w/ TS 12.0B 20%+ 15.7B 19.5% Aero Up 1% Up 40 bps + Flat Up 130 bps Up 1% Organic 14.4B 15%+ 14.4B 15% ACS Up 7% Up…
  10. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 10
    2014 Financial Guidance Summary (B, except per share amounts; V%, BPS vs. prior year) 3Q14E 4Q14E 2014E Comments Sales 9.9 - 10.1 10.3 - 10.4 40.2 - 40.4 Modest Acceleration Sales Reported V% 3 - 5% Flat 3 - 4% - FM…
  11. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 11
    2018 Long Term Targets March 5th Outlook Current Outlook (Vs. 2013) Sales Margin Sales Margin w/ TS 13.5 - 15.0B 22.0 - 23.0% 17.8 - 19.7B 21.2 - 22.1% Aero 3 - 5% CAGR Up 220 - 320 bps 3 - 5% CAGR Up 300 - 390 bps w/o…
  12. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 12
    Summary 2Q Results Exceed Guidance On Sales, Margins, EPS - Improving Top-Line And Double Digit Earnings Growth - Continued Margin Expansion While Investing Compelling Growth Tailwinds - Favorable Macros, Global Expansion,…
  13. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 13
    Appendix Reconciliation of non-GAAP Measures to GAAP Measures 14 2Q 2014 Earnings Release July 18, 2014
  14. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 14
    Reconciliation Of Segment Profit To Operating Income And Calculation Of Segment Profit And Operating Income Margins (M ) 2Q13 2Q14 Aerospace 583 592 Automation and Control Solutions 467 533 Performance Materials and Technologies…
  15. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 15
    Reconciliation Of Segment Profit To Operating Income And Calculation Of Segment Profit And Operating Income Margins (M ) 3Q13 4Q13 2013 Aerospace 602 636 2,372 Automation and Control Solutions 523 570 1,983 Performance Materials…
  16. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 16
    Reconciliation Of Segment Profit To Operating Income And Calculation Of Segment Profit And Operating Income Margins (B) 3Q14E 4Q14E 2014E Segment Profit 1.7 - 1.8 1.7 - 1.8 6.7 - 6.9 Stock Based Compensation (1,3) (0.0) (0.0)…
  17. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 17
    Calculation Of EPS At Tax Rate Of 26.5% (M except per share amounts) 2Q13 2Q14 Income Before Taxes 1,329 1,523 Taxes at 26.5% 352 404 Net Income at 26.5% Tax Rate 977 1,119 Less: Net Income Attributable to the Noncontrolling…
  18. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 18
    Reconciliation Of Cash Provided By Operating Activities To Free Cash Flow (M ) 2Q13 2Q14 Cash Provided by Operating Activities 1,256 1,341 Expenditures for Property, Plant and Equipment (196) (229) Free Cash Flow 1,060 1,112 Cash…
  19. Second Quarter 2014 Earnings Release – Honeywell International Inc. – slide 19
    Reconciliation Of EPS To EPS, Excluding Pension Mark-to-Market Adjustment 2013 (1) EPS 4.92 Pension Mark-to-Market Adjustment 0.05 EPS, Excluding Pension Mark-to-Market Adjustment 4.97 (1) Utilizes weighted average shares of…

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