Honeywell Q2 Earnings & Revenues Top Estimates, Down Y/Y

Adjusted free cash flow in the quarter was $1,253 million, down 18.4% year over year.

Outlook

Honeywell expects its near-term revenues to be adversely impacted by soft aerospace, and oil and gas end markets, owing to the coronavirus outbreak-led issues and supply-chain disruptions. However, it remains focused on managing costs, investment in new technologies and boosting sales, where demand remains strong.

Notably, on uncertainties, regarding the impacts of the coronavirus outbreak on financial and operating results, the company has not provided its guidance for 2020.

Zacks Rank & Stocks to Consider

Honeywell currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks are Altra Industrial Motion Corp. (AIMC - Free Report) , Berry Global Group, Inc. (BERY - Free Report) and CECO Environmental Corp. (CECE - Free Report) . All the companies presently carry a Zacks Rank #2 (Buy). 

Altra Industrial delivered an earnings surprise of 9.78%, on average, in the trailing four quarters.

Berry Global delivered an earnings surprise of 6.63%, on average, in the trailing four quarters.

CECO Environmental delivered an earnings surprise of 23.57%, on average, in the trailing four quarters.

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