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Honeywell Aerospace

Honeywell Aerospace produkuje silniki lotnicze, awionikę, jednostki zasilające oraz inne systemy lotnicze. Firma dostarcza produkty na rynki cywilne oraz wojskowe. Źródło: Wikipedia

Wyniki II kw. 2026 vs II kw. 2025 · first report since listing

Net income down 70.9% year on year. First earnings call since the listing. Management sounded upbeat.

1 · Liczby

−70,9%

Zysk netto vs II kw. 2025

Zysk netto 246,0 mln vs 844,0 mln

Przychody +5,4%

Dlaczego Net income fell primarily due to higher taxes and a lower adjusted EBIT, which was impacted by an unfavorable mix and an inventory obsolescence charge of approximately $50 million.

2 · Jak mówił zarząd

Optymistyczny

More upbeat than 76% of company calls

Answers to analysts: restrained, but clearly less so than the script.

3 · Co się wyróżniło

Honeywell Aerospace orders increased by 8% over the past year, and the company secured its largest selectable win in history, bringing year-to-date customer wins to a lifetime value of $15 billion.

Oficjalne kanały

Strona spółki i jej oficjalne konta w mediach społecznościowych.

Między wierszami

  1. Główny temat

    HONA's second half free cash flow expectations remain unchanged at $1 billion to $1.5 billion, a range covering potential shifts in working capital timing and policies from the separation.

    Cytat ze źródła
    “Our second half free cash flow expectations remain unchanged at $1 billion to $1.5 billion, a range which covers potential shifts in working capital timing and policies as a result of separation.”
  2. Liczba

    HONA is advancing its innovation leadership by spending roughly 10% of its sales on R&D, most of which is funded by customers for collaborative development.

    Cytat ze źródła
    “We are advancing our innovation leadership with R&D spending of roughly 10% of our sales, the majority of which is being funded by our customers for collaborative development efforts.”
  3. Liczba

    HONA is increasing its investment in supplier tooling with 70% allocated to constrained castings to strengthen its supply base.

    Cytat ze źródła
    “One new initiative is increasing our investment in supplier tooling, 70% of which is going to constrained castings, that will strengthen our supply base.”
  4. Liczba

    The company now anticipates pro forma stand-alone adjusted EBIT to be $4.35 billion to $4.45 billion for the period.

    Cytat ze źródła
    “We now anticipate pro forma stand-alone adjusted EBIT to be $4.35 billion to $4.45 billion.”
  5. Liczba

    Orders increased by 8% over the past year, and the company secured its largest selectable win in history, bringing year-to-date customer wins to a lifetime value of $15 billion.

    Cytat ze źródła
    “Orders increased by 8% over the past year, and we recently secured the largest selectable win in company history, bringing the lifetime value of year-to-date customer wins to $15 billion.”
4 więcej
  1. Główny temat

    Supply chain constraints in the first quarter resulted in factory volume growth below expectations following several years of double-digit output growth.

    Cytat ze źródła
    “After a few years of double-digit output growth, we faced supply chain constraints in the first quarter that resulted in factory volume growth below expectations.”
  2. Liczba

    Last month, IndiGo, India's largest carrier, selected Honeywell Aerospace avionics and APUs for more than 800 future Airbus A320 family aircraft it has on order.

  3. Liczba

    The international defense business accounts for approximately 30% of the Defense and Space end market and is expected to see high single-digit annual growth through 2030.

    Cytat ze źródła
    “In addition to our commercial momentum, we're also seeing growing demand in our international defense business, which is approximately 30% of our total Defense and Space end market and where we anticipate high single-digit annual growth through 2030.”
  4. Główny temat

    Civitanavi sales are expected to double in 2026 versus the prior year due to the combination of specific features with Honeywell Aerospace's navigation technology program speed and scale.

    Cytat ze źródła
    “The combination of these features with Honeywell Aerospace's complementary navigation technology program speed and scale are expected to drive a doubling of Civitanavi sales in 2026 versus the prior year.”

Ton

Jak optymistyczny był język w porównaniu z innymi spółkamiiTon to liczba pozytywnych słów finansowych minus liczba negatywnych, skorygowana o długość tekstu. Zarządy zwykle mówią pozytywnie, więc etykiety porównują każdą konferencję z ostatnimi konferencjami wszystkich spółek: „typowy” to środkowa trzecia, „bardzo optymistyczny” to najlepsze 10%, „ostrożny” to najsłabsze 10%..

Prezentacja Optymistyczny
Odpowiedzi analitykom Powściągliwy

Management sounded noticeably less positive answering analysts than in its prepared script — a bigger drop than in 84% of calls. Scripts are polished in advance; a drop under questioning often marks the topics analysts pressed on, so the answers deserve a closer read than the script.

Zdania, które wpłynęły na ton
“We are going to grow where there is increasing profit opportunity and where we have a strong right to win because of our differentiated technology and deeply embedded positions.”
“Business aviation flight hours growth has been particularly robust, growing at a high single-digit rate.”
“Critically, aftermarket demand remains robust, and we expect to drive solid growth in this end market longer term as our supply chain initiatives begin to yield results and drive output...”

Liczby

USD · SEC EDGAR fundamentals (USD)

Pozycja II kw. 2026period end 2026-06-27 II kw. 2025period end 2025-06-28 Zmiana
Przychody 4,52 mld 4,29 mld +5,4%
Zysk brutto ze sprzedaży 1,58 mld 1,56 mld +1,1%
Zysk operacyjny 995,0 mln 1,07 mld −6,7%
Zysk netto 246,0 mln 844,0 mln −70,9%
C/Z — — —

Tematy

Najczęściej omawiane teraz

  • Honeywell Aerospace anticipates commercial aftermarket growth of low to mid-single digits as it navigates continued constraints in the…
  • To navigation and sensors in Florida, Honeywell Aerospace is taking positive steps that will support material and sustainable increases.
  • History and Honeywell Aerospace will expand its platform content in one of the fastest-growing commercial aviation markets in the world.
  • Supply constraints are continuing to limit Honeywell Aerospace's ability to convert demand into sales across all its end markets with…
  • Honeywell Aerospace has many reasons to believe that both 2027 and beyond will offer accelerated profitable growth on top of the...

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