While earnings, profit margins, and cash flow came in slightly ahead of expectations, sales were light across the board.
Segment margin , similar to an adjusted operating income margin, grew 64 basis points to 23.5%, slightly ahead of expectations and ahead of the high-end of management's previous forecast.
Segment margin performance was largely better than expected, with the exception of Building Technologies, and cash flow generation came in solidly above expectations.
Where they landed on guidance both in terms of sales and margin performance, and therefore earnings, hinges on the short-cycle recovery.
Full-year segment margin guidance of 23.15% at the midpoint was higher than estimates.
Persons:
Jim Cramer's, Jim Cramer, Jim
Organizations:
Honeywell, Revenue, Aerospace, Technologies, Solutions, Carrier Global, Materials, Technology, Productivity Solutions, Services, Aerospace Technologies, Industrial Automation, Energy, Sustainability Solutions, Industrial, CNBC, Getty
Locations:
U.S, UOP, buybacks