Will Honeywell Q1 results miss estimates amid supply chain issues?
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Honeywell (NASDAQ:HON) is scheduled to announce Q1 earnings results on Friday, Apr. 29, before market open.
The manufacturing conglomerate is expected to post lower Q1 profit amid supply chain constraints in its aerospace business aggravated by the Ukraine war.
The consensus EPS estimate is $1.86 (-3.1% Y/Y) and the consensus revenue estimate is $8.29B (-2% Y/Y).
Over the last 2 years, HON has beaten EPS estimates 100% of the time and revenue estimates 63% of the time.
Over the last 3 months, EPS estimates have seen 15 downward revisions. Revenue estimates have seen 1 upward revision and 9 downward.
HON stock fell after the firm reported Q4 earnings as 2022 forecast missed Street view. While demand was strong, sales fell due to supply constraints, a tough comparison vs. 2020 on lower COVID-19 mask volumes, and six fewer days in the quarter.
HON raised its long-term financial targets, including for organic growth and margin expansion. In a separate conference, HON issued the following outlook for Q1:

Deutsche Bank added HON to its Catalyst Call Buy Idea list as the stock is "entering the sweet spot with respect to timing". HON is expected to benefit from its late-cycle end market exposures including aerospace, oil & gas and non-residential construction.
SA contributor Khen Elazar in a recent analysis said HON is a reliable company with solid fundamentals, but shares are not attractively valued yet.
In other news, HON is diversifying its supplier base to meet higher demand from Boeing and Airbus, Reuters recently reported. While Q1 results were hit by supply chain issues, HON did not see significant shortage in titanium and nickel supplies.
HON stock declined 8.4% YTD.