Honeywell Q1 Revenue Falls to $9.1B, Sees 1% Q2 Headwind and Sells Warehouse & Productivity Units
Honeywell’s Q1 revenue fell 0.5% to $9.1 billion, missing $9.3 billion estimates, while adjusted EPS rose to $2.45. The company now sees a 1% Q2 sales headwind, forecasts EPS of $2.35–$2.45 versus $2.56 consensus, and will sell two business units before its June 29 aerospace spinoff.
1. Q1 Financial Results
Honeywell reported Q1 revenue of $9.1 billion, below the $9.3 billion analyst consensus, with adjusted EPS rising 11% to $2.45. The process automation unit faced delays in catalyst reloads and projects due to Middle East conflict, trimming roughly 0.5% from sales.
2. Q2 Outlook and Guidance
The company projects a 1% negative impact on Q2 sales and expects adjusted EPS between $2.35 and $2.45 versus the $2.56 consensus. It maintained full-year revenue guidance of $38.8 billion to $39.8 billion with organic growth of 3%–6% and adjusted EPS of $10.35 to $10.65.
3. Strategic Divestitures and Spinoff
Honeywell agreed to sell its Warehouse & Workflow Solutions business to American Industrial Partners and its Productivity Solutions unit to Brady Corp., with both deals closing in H2. The aerospace division is set to spin off on June 29, completing the company’s targeted transformation.