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[ Star Enterprise of Chemical Machinery and Equipment Network ] On February 2, 2021, Honeywell announced the fourth quarter and full-year financial results of 2020 that exceeded investor expectations, and also announced its 2021 outlook.
Chemical machinery and equipment network star enterprise chemical machinery and equipmentThe company's fourth-quarter reported sales and endogenous sales fell 6% and 7% year-on-year, respectively, and the full-year report and endogenous sales fell 11%.
For the full year, operating profit margins fell by 120 basis points, departmental profit margins fell by 70 basis points, earnings per share were US$6.
72, and adjusted earnings per share were US$7.
10, which was higher than the upper limit of the performance guidance forecast range.
For the full year, operating profit margins fell by 120 basis points, departmental profit margins fell by 70 basis points, earnings per share were US$6.
72, and adjusted earnings per share were US$7.
10, which was higher than the upper limit of the performance guidance forecast range.
"We have once again achieved quarterly continuous improvement in sales growth, improved profit margins and adjusted earnings per share, thus ending a challenging 2020," said Du Ruizhe, Chairman and *Executive Officer of Honeywell: "We Focus on providing differentiated solutions to achieve double-digit organic sales growth for the second consecutive quarter in the defense and aerospace business, warehousing automation, personal protective equipment, and recurring interconnected software business.
This quarter, we Continue to prudently reduce costs and bring our total fixed cost savings for the year to US$1.
5 billion.
Our adjusted earnings per share for the fourth quarter was US$2.
07, which was the same as the previous year on an adjusted basis and was higher than the performance guidance forecast The upper limit of the range.
In addition, we continue to focus on cash generation and achieved an adjusted free cash flow conversion rate of 170% during the quarter.
The annual operating cash flow was US$6.
2 billion, the conversion rate was 130%, and the free cash flow was 5.
3 billion.
In US dollars, the adjusted free cash flow conversion rate is 105%.
This quarter, we Continue to prudently reduce costs and bring our total fixed cost savings for the year to US$1.
5 billion.
Our adjusted earnings per share for the fourth quarter was US$2.
07, which was the same as the previous year on an adjusted basis and was higher than the performance guidance forecast The upper limit of the range.
In addition, we continue to focus on cash generation and achieved an adjusted free cash flow conversion rate of 170% during the quarter.
The annual operating cash flow was US$6.
2 billion, the conversion rate was 130%, and the free cash flow was 5.
3 billion.
In US dollars, the adjusted free cash flow conversion rate is 105%.
Du Ruizhe said: "Honeywell's strong balance sheet gives us the advantage to meet the challenges of 2020, while investing in future growth.
We invested in * capital expenditures and repurchased $3.
7 billion in Honeywell.
Weir shares, completed three acquisitions, invested in six new projects within Honeywell Ventures, and announced the 11th consecutive year of dividend growth.
Despite such large-scale cash deployment, we At the end of 2020, it still has 15.
2 billion U.
S.
dollars in cash and short-term investments.
"
We invested in * capital expenditures and repurchased $3.
7 billion in Honeywell.
Weir shares, completed three acquisitions, invested in six new projects within Honeywell Ventures, and announced the 11th consecutive year of dividend growth.
Despite such large-scale cash deployment, we At the end of 2020, it still has 15.
2 billion U.
S.
dollars in cash and short-term investments.
"
The company also released its outlook for 2021.
Honeywell expects that 2021 sales will be in the range of US$33.
4 billion to US$34.
4 billion, which is equivalent to an endogenous year-on-year growth rate of 1% to 4%; the profit margin of the division will increase by 30 basis points to 70 basis points; Share income is between US$7.
60 and US$8.
00, an adjusted increase of 7% to 13%; operating cash flow is between US$5.
7 billion and US$6.
1 billion, and free cash flow[6] is between US$5.
1 billion and US$5.
5 billion.
Honeywell expects that 2021 sales will be in the range of US$33.
4 billion to US$34.
4 billion, which is equivalent to an endogenous year-on-year growth rate of 1% to 4%; the profit margin of the division will increase by 30 basis points to 70 basis points; Share income is between US$7.
60 and US$8.
00, an adjusted increase of 7% to 13%; operating cash flow is between US$5.
7 billion and US$6.
1 billion, and free cash flow[6] is between US$5.
1 billion and US$5.
5 billion.
Du Ruizhe concluded: “I am very proud of Honeywell’s performance in the 2020 crisis.
To help the recovery, we quickly focus on liquidity, cost management and execution, while also innovating quickly and including important personal protective equipment.
We will continue to focus on growth and invest in new markets and new technologies.
After two consecutive quarters of performance improvement, we are entering 2021 with a positive momentum.
I believe that we are welcoming the economy The recovery is ready, and we will continue to achieve satisfactory performance to our shareholders, customers and employees in the short term and *.
"
To help the recovery, we quickly focus on liquidity, cost management and execution, while also innovating quickly and including important personal protective equipment.
We will continue to focus on growth and invest in new markets and new technologies.
After two consecutive quarters of performance improvement, we are entering 2021 with a positive momentum.
I believe that we are welcoming the economy The recovery is ready, and we will continue to achieve satisfactory performance to our shareholders, customers and employees in the short term and *.
"
4th quarter results
4th quarter results Honeywell reported sales and endogenous sales fell 6% and 7%, respectively, in the fourth quarter.
The Aerospace Group’s endogenous sales fell by 19% in the fourth quarter, mainly due to the continued impact of reduced flight times and the decline in commercial aviation original equipment sales, which led to a slowdown in commercial aviation aftermarket demand, while the defense and aerospace business had double digits The increase partially offset the aforementioned adverse effects.
The division's profit margin rose by 150 basis points to 27.
6%, mainly due to measures to increase productivity and * commercial operations.
The division's profit margin rose by 150 basis points to 27.
6%, mainly due to measures to increase productivity and * commercial operations.
In the fourth quarter of the Intelligent Building Technology Group, organic sales fell by 4%, mainly due to the impact of the progress of the building intelligent system project and the weakening of demand for security products and building control systems, and the growth of commercial building fire protection business partially offset the above adverse effects.
Thanks to large-scale projects in North America and Europe, the building intelligence system division achieved double-digit year-on-year growth in orders.
The division’s profit margin increased by 110 basis points to 21.
4%, mainly due to * commercial operations and measures to improve productivity.
Thanks to large-scale projects in North America and Europe, the building intelligence system division achieved double-digit year-on-year growth in orders.
The division’s profit margin increased by 110 basis points to 21.
4%, mainly due to * commercial operations and measures to improve productivity.
Performance Materials and Technology Group’s endogenous sales fell by 12% in the fourth quarter, mainly due to the continued delays in the automation projects of the Process Control Department, the decline in the business volume of smart energy and thermal energy solutions, and the weakening of the oil and gas industry.
UOP's gas processing projects, catalyst delivery, technology licensing and engineering projects have declined; and the high-performance materials department has been driven by the demand for fluorine products to promote business growth, which partially offset the above-mentioned adverse effects.
Affected by the reduction in sales volume and the combination of factors, the profit margin of the group's division decreased by 380 basis points to 18.
7%, and measures to increase productivity partially offset this trend.
UOP's gas processing projects, catalyst delivery, technology licensing and engineering projects have declined; and the high-performance materials department has been driven by the demand for fluorine products to promote business growth, which partially offset the above-mentioned adverse effects.
Affected by the reduction in sales volume and the combination of factors, the profit margin of the group's division decreased by 380 basis points to 18.
7%, and measures to increase productivity partially offset this trend.
Safety and Productivity Solutions Group’s endogenous sales growth of 27% in the fourth quarter was mainly due to the double-digit growth of Intelligrated’s smart warehousing business and personal protective equipment business, as well as the strong productivity solutions and services business.
Driven by strong order growth in the personal protective equipment business and productivity solutions and services business, orders achieved double-digit year-on-year growth for the fifth consecutive quarter.
Order storage remains at a historical high.
Thanks to measures to improve productivity and increased sales, the division’s profit margin increased by 260 basis points to 15.
3%.
Driven by strong order growth in the personal protective equipment business and productivity solutions and services business, orders achieved double-digit year-on-year growth for the fifth consecutive quarter.
Order storage remains at a historical high.
Thanks to measures to improve productivity and increased sales, the division’s profit margin increased by 260 basis points to 15.
3%.
Original title: Honeywell's sales of 8.
9 billion yuan in the fourth quarter of 2020
9 billion yuan in the fourth quarter of 2020
