Honeywell Earnings: Mixed Q4 Results but Progress Toward Long-Term Financial Targets Continues

Honeywell's shares traded lower on Feb. 1 after the wide-moat firm released its fourth-quarter and full-year 2023 results and provided 2024 guidance. Fourth-quarter revenue grew 3% (2% organic) to $9.4 billion, segment margin expanded 60 basis points to 23.5%, and adjusted EPS increased 3% to $2.60. While adjusted EPS came in $0.01 above the FactSet consensus estimate, revenue fell about 3% shy of consensus, and management’s 2024 revenue outlook of $38.1 billion-$38.9 billion fell short of the $39.0 billion consensus expectation.