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CAPITAL GOODS: Honeywell (HON A2[P]/A/A): 2Q24 Results

CAPITAL GOODS

Credit neutral.

  • Revenue beat by 2%, with strong organic growth at 4% (2% consensus).
  • Adj. EBITDA missed by 4% on differences in business mix.
  • FCF missed by 8% with some drag from higher cash taxes.
  • Guidance has been adjusted slightly reflecting recently announced acquisitions, with a marginal cut to FCF and margins. It expects 2H revenue acceleration, backed by recent momentum.
  • Webcast ongoing https://event.choruscall.com/mediaframe/webcast.html?webcastid=fiJRWyXB

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