Stock Story -
Industrial conglomerate Honeywell (NASDAQ:HON) will be reporting earnings tomorrow before market hours. Here's what to look for.
Honeywell met analysts' revenue expectations last quarter, reporting revenues of $9.11 billion, up 2.7% year on year. It was a very strong quarter for the company, with a solid beat of analysts' organic revenue estimates and a decent beat of analysts' earnings estimates.
Is Honeywell a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Honeywell's revenue to grow 3% year on year to $9.42 billion, in line with the 2.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.42 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Honeywell has missed Wall Street's revenue estimates five times over the last two years.
Looking at Honeywell's peers in the industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. General Electric (NYSE:GE)'s revenues decreased 42.6% year on year, beating analysts' expectations by 6.4%, and Worthington reported a revenue decline of 13.6%, falling short of estimates by 9.6%. Worthington traded down 3.4% following the results.
Read the full analysis of General Electric's and Worthington's results on StockStory.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 8.3% on average over the last month. Honeywell is up 1.4% during the same time and is heading into earnings with an average analyst price target of $230.2 (compared to the current share price of $217.38).
![Honeywell (HON) To Report Earnings Tomorrow: Here Is What To Expect](https://d68-invdn-com.investing.com/content/pic623dad5ab79c8aa2552a0cb50f6fbea6.jpeg)