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Full Year 2014 Earnings Release – Honeywell International Inc.

Honeywell International Inc. · Jan 22, 2015 · 20 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. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 1
    Fourth Quarter / Full Year 2014 Earnings Release
  2. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 2
    Overview Honeywell Delivers Again In 2014 - 4Q14: 4% Organic Sales Growth; EPS(1) 1.43, Up 15% YoY - FY14: 3% Organic Sales Growth; EPS(1) 5.56, Up 12% YoY - BEAV Gains Fully Deployed Positions HON Well For Future Growth And…
  3. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 3
    4Q14 Guidance Vs. Results Guidance Results Sales 10.1-10.2B 10.3B Reported Growth (2%) (1%) Organic Growth 3% 4% Segment Profit 1.6B 1.6B Margin Change (20) bps (20) bps Below The Line BEAV Share Sale 116M 116M Tax Benefit…
  4. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 4
    4Q14 Results (Ex-4Q14 OEM Incentives/BEAV Gain) (M except per share amounts) 4Q13 4Q14 Sales 10,387 10,450 1% Increase Organic Up 4% Segment Profit 1,669 1,816 9% Increase Margin % 16.1% 17.4% 130 bps Margin Expansion Net…
  5. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 5
    4Q14 Results (M except per share amounts) 4Q13 4Q14 Sales 10,387 10,266 (1%) Decrease Organic Up 4% 4Q14 OEM Incentives (184M) Segment Profit 1,669 1,632 (2%) Decrease Margin % 16.1% 15.9% (20) bps Margin Contraction 4Q14 OEM…
  6. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 6
    FY14 Results (Ex-4Q14 OEM Incentives/BEAV Gain) (M except per share amounts) FY13 FY14 Sales 39,055 40,490 4% Increase Organic Up 3% Segment Profit 6,351 6,880 8% Increase Margin % 16.3% 17.0% 70 bps Margin Expansion Net…
  7. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 7
    FY14 Results (M except per share amounts) FY13 FY14 Sales 39,055 40,306 3% Increase Organic Up 3% 4Q14 OEM Incentives (184M) Segment Profit 6,351 6,696 5% Increase Margin % 16.3% 16.6% 30 bps Margin Expansion 4Q14 OEM Incentives…
  8. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 8
    4Q14 Aerospace Sales Performance 4Q14 Sales Growth Key Drivers Reported Organic (184M) 4Q14 ATR OEM Incentives Commercial OE (14%) 7% (67M) 4Q13 BGA OEM Incentives ATR Spares Growth Commercial AM 4% 4% R&O Improvement 63M…
  9. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 9
    Aerospace Sales Segment Margin (M) Down (6%) Down (1%) Down (160) bps Up 50 bps Organic 4% Organic 2% Up 210 bps Up 140 bps ex-4Q14 OEM Incentives ex-4Q14 OEM Incentives 15,735 15,598 18.9% 17.3% 18.2% 18.7% 4,077 3,842 4Q13…
  10. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 10
    Automation and Control Solutions Sales Segment Margin (M) Up 3% Up 8% Up 70 bps Up 50 bps Organic 6% Organic 4% Up 60 bps ex-M&A 14,487 15.9% 15.2% 3,847 13,465 15.2% 14.7% 3,741 4Q13 4Q14 FY13 FY14 4Q13 4Q14 FY13 FY14…
  11. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 11
    Performance Materials and Technologies Sales Segment Margin (M) Flat Up 4% Up 90 bps Up 30 bps Organic 3% Organic 5% 9,855 10,221 17.5% 17.8% 16.5% 2,569 2,577 15.6% 4Q13 4Q14 FY13 FY14 4Q13 4Q14 FY13 FY14 UOP: 4Q Down…
  12. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 12
    2015 Planning Update HON Impact Topic What Were Seeing / Expecting Exposure - Neutral + CapEx Budgets Declining But Firm Refining Demand Oil Price Declines Medium No Major Project Cancellations; R&C Sales Headwind Net Positive…
  13. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 13
    2015 Financial Guidance Summary (B except per share amounts) 2014 2015E V% Comments Sales 40.3 40.5 - 41.1 1 - 2% Organic Up 4% Segment Profit 6.7 7.1 - 7.4 6 - 10% Margin % 16.6% 17.6 - 17.9% 100 - 130 bps 60-90 bps ex-4Q14 OEM…
  14. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 14
    1Q15 Preview Sales Change Margin Change Comments BGA OE New Platform Wins Aero (2%) - (4%) Up 100 - 120 bps Spares And R&O Growth D&S International Growth 3 - 4% Organic Strong Turbo Gas Demand ACS Flat - 2% Up 100 - 120 bps…
  15. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 15
    Summary 2014 Another Year Of Outperformance - Set High Expectations And Delivered - Achieved Record Margins While Investing For Growth Confident In 2015 Outlook - Short- And Long-Cycle Order Trends Improving, Backlog Remains…
  16. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 16
    Appendix Reconciliation of non-GAAP Measures to GAAP Measures 17 4Q 2014 Earnings Release January 23, 2015
  17. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 17
    Reconciliation Of Segment Profit To Operating Income And Calculation Of Segment Profit And Operating Income Margins (M ) 4Q13 4Q14 2013 2014 1Q14 Aerospace 769 663 2,870 2,915 703 Automation and Control Solutions 570 613 1,983…
  18. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 18
    Reconciliation Of Cash Provided By Operating Activities To Free Cash Flow And Calculation Of Cash Flow Conversion % (M ) 4Q13 4Q14 2013 2014 Cash Provided by Operating Activities 1,668 1,762 4,335 5,024 Expenditures for Property,…
  19. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 19
    Reconciliation Of EPS To EPS, Excluding Pension Mark-to-Market Adjustment 4Q13(1) 4Q14(2) 2013(3) 2014(4) EPS 1.19 1.20 4.92 5.33 Pension Mark-to-Market Adjustment 0.05 0.23 0.05 0.23 EPS, Excluding Pension Mark-to-Market…
  20. Full Year 2014 Earnings Release – Honeywell International Inc. – slide 20
    Calculation Of EPS, Excluding Pension Mark-to-Market With BEAV Gain Normalized At Tax Rate Of 26.5% 4Q13(1) 4Q14(2) V% EPS 1.19 1.20 Pension Mark-to-Market Adjustment 0.05 0.23 Less: BEAV Gain as Reported (0.16) (0.14) BEAV Gain…

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