Exceeded Guidance and Strong Free Cash Flow Growth
Honeywell exceeded the high end of its guidance on all metrics in the first quarter, translating into substantial free cash flow growth.
First Quarter Organic Sales Growth
First-quarter sales grew 4% organically, led by aerospace technologies with double-digit growth in commercial aftermarket and defense in space.
Record Backlog and Share Repurchase
Orders reached $10.6 billion, up 3% year over year, with a record backlog of $36.1 billion. The company repurchased about $3 billion of its shares year-to-date.
Positive Adjusted EPS Growth
Earnings per share was $2.22, flat from the previous year, while adjusted EPS was $2.51, up 7% year over year.