We delivered adjusted EPS of $1.26 in the quarter on sales that were down 18% organically, consistent with the greater than 15% organic sales decline we signaled in May. And it's by far the best way we could put our capital to work, some of these high-return capex projects, and they're terrific. This included curtailment of discretionary expenses, cancellation of 2020 merit increases across the enterprise, reduced executive and board pay, reduced work schedules and a first phase of targeted permanent census reductions. Greg Lewis -- Senior Vice President and Chief Financial Officer. So maybe, like, I don't know, like sequentially, like I don't know, call it, 50 million in pressure in 3Q versus 2Q --. Cumulative Growth of a $10,000 Investment in Stock Advisor, Honeywell International (HON) Q2 2020 Earnings Call Transcript @themotleyfool #stocks $HON, Why You Should Buy Aerospace Stocks on Weakness in 2021, 2 Dividend Stocks That Should Beat the Market (Again) in 2021, Looking for a Dependable Stock? It seems to me like there could be some benefits, but I would be curious how you think about that. We identify the principal risks and uncertainties that may affect our performance in our annual report on Form 10-K and other SEC filings. We remain cautious heading into the second half of the year as there are still many unknowns. And people. 2 is, in some segments and some of our OEs, that we don't see the robust production rates exhibited in Q3. So that's an evolution in our HBT strategy, and I think we're going to -- it's going to be that much more effective because we're going to be that much closer and more intimate with those customers and their needs. No. It's just -- it's because we simply can't call the timing of that perfectly. And sorry, when you talk about kind of that USM, the used parts dynamic, your business is electronics. So obviously, orders actually kind of came in more or less where we expected them to do. Yes. Wow, you answered the question. For the quarter, the Defense & Space backlog finished up double digits, giving us confidence we'll continue to deliver growth in that business throughout the second half of the year. It doesn't sound like you want to answer that part of the questions --. I mean, I think the segment for UOP that was the most challenged is our gas processing segment, which obviously is closely tied to the unconventional gas production in -- primarily in the U.S. And as you know, that's very challenged, so we saw some pretty big drop off. So we had a little bit of a lead-lag impact. Where would we expect that kind of to end up based on -- and I don't mean on a furlough basis. On the call with me today are chairman and CEO, Darius Adamczyk; and senior vice president and chief financial officer, Greg Lewis. Probably in the worst quarter hopefully that you ever see as CEO, you guys are putting up a headline decremental of 33%. Honeywell International's (HON) CEO Darius Adamczyk on Q2 2020 Results - Earnings Call Transcript Jul. So I think it's a little bit too early to call exactly what that -- our staffing may look like at year-end. Thanks for squeezing me in here. Because the level of the leisure traveler is actually a little bit better than expected. 5/1/2020. Could you give us orders for the other three segments in the quarter? But going forward, again, as I mentioned, the solvency risks, I think, are in front of us, not behind us. Andrew Obin -- Bank of America Merrill Lynch -- Analyst. Building owners often need to pull data from disparate sources that are not normalized, making it extremely difficult to determine the true efficiency and utilization of their portfolios. So I think that that's going to be respectable performance. Lauren, let's take one more question, please. Our aggressive deployment of repositioning funds, $250 million in the quarter and $325 million in the first half, is serving us well. I think the real discontinuity here where we could see a much more dramatic improvement, which is really going to be tied to a medical solution, which is probably a vaccine, when it gets distributed. Q1 2007 Earnings Conference Call Presentation. ... For Honeywell Automation India Limited Farah Irani Company Secretary Encl: A/a . Yes. And we already made a commitment that we're going to at least keep share count flat from here, which is new news, and we're going to kind of take a look at what opportunities are out there in the second half. We are focused on continuing to perform for our shareowners, our customers and our employees in any environment. I want to thank our shareowners for their continued support of Honeywell. In addition to our expansion of United States, India and China capacity, we have added capacity in the UAE, where we've partnered with Strata Manufacturing, a subsidiary of Abu Dhabi state fund Mubadala Investment Company, to produce N95 masks. So we know what we're going to do there. We recently announced our partnership with SAP to create a joint cloud-based solution to improve building performance based on Honeywell Forge and the SAP cloud platform. of prom. And potentially, maybe talk a little bit about how the temporary reversal, if there are temporary reversals that occur in 3Q, is impacting that number. We funded over $250 million in repositioning, and we identified significant additional actions to align our cost base to the current environment in 2020 and 2021. And then finally, in ATR, that one is the toughest to call. Congrats, Darius and good luck guys wish you the best rest of the year. John Inch -- Gordon Haskett Research Advisors -- Analyst. Within Advanced Materials, we expect that automotive refrigerant volumes will continue to recover as auto OEM plants increase production and capacity levels. And any other major swing factors in the second half that we should think about. We worked very closely with a lot of our customers, particularly in the airline space, to make sure that we are managing some risks around that. The conglomerate reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. Honeywell To Split Automation And Control Group; Q2 Sales Tick Up. Obviously, we're on to something. Easy fix, close the plant move to new area start all over again. You will find a bridge of our EPS in the appendix of this presentation. Could that mean, if you weren't adding capacity, you're taking out 5% of your headcount? But those are going to play out over the course of June, July, August, September. Those are some of our indirect cost base which obviously are impacted, which they're not permanent in nature, but we think some of those are going to carry over into 2021. We have also launched an integrated set of healthy building solutions to help building owners improve the health of their building environments, operate more cleanly and safely, comply with social distancing policies and help reassure occupants that it is safe to return to the workplace. How much visibility do you have on DoD being able to accelerate payments on programs? of shares (as a % of the total sh. Darius and Greg, so if you look at your restructuring programs in the 60 to 70% of structural, how would you anticipate, say, your pro forma headcount ending 2020? And a slowdown in original equipment build rates, in addition to the 737 MAX impact in air transport, impacted commercial OE more broadly. The result is that we reduced fixed cost by approximately $700 million year over year in the first half, which is pushing us toward the high end of our original Phase 1 target range of 1.1 to $1.3 billion. Really appreciate you making this a no-drama Friday. Or is there a chance that 2021 can be flat? Hi, good morning. This ultraviolet airplane cabin cleaning technology, is it applicable to -- or could you even sort of develop product for a commercial building application or even residential? I think it's really, really exciting because I think Honeywell and SAP have what I call complementary growth strategies. Basically, what happens in 2021? 1 is I think that you saw the bottom in Q2. Yes. Aerospace segment margins contracted 510 basis points driven by lower commercial sales volumes and business mix, partially offset by cost actions to improve productivity. - Per. 5/1/2020. Or how -- what else would you say about that? You talked about some restructuring going perhaps in the second half, Greg. This morning, we will review our financial results for the second quarter of 2020 and share our views on the third quarter of 2020. See a gradual slow improvement as we move into Q3, Q4. Copyright © e-Eighteen.com Ltd. All rights reserved. Our personal protective equipment backlog is now also up triple digits, and our total SPS backlog is at an all-time high. Because we do think, obviously, flight hours are going to be better in Q3 versus Q2. The business had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.65 billion. Maybe I'll start. Together, these drivers are difficult to predict and set the stage for challenging quarters ahead. I think Aero is the toughest to call because of the uncertainty around the mix that I talked about, particularly in air transport aftermarket, which is, as you can imagine, a very interesting and higher-margin revenue stream. For the second quarter, sales declined by 18% organically as the effects of the pandemic spread across the globe. Would that kind of be the high-level goal? So I'm just trying to sort of triangulate that. Yes, good morning. #PROFITSINSTOCKS #BUYSTOCKS #q2fy21results HONEYWELL AUTOMATION LTD Q2 FY 21 RESULTS Subscribe my channel and click the icon bell for all the updates daily. Darius or Greg, though, given that some of the stuff is kind of in flight over the course of the year here, just wondering if you could give us a little bit of feel of kind of what the carryover positive effects of this Phase 1 and Phase 2 would be as we look into next year. I'm just curious whether that's changed at all and what you're seeing along those lines. And then as I mentioned, we're backfilling that with some of our fixed -- or sorry, more permanent actions. But do you think that you can maintain or even improve on that performance in Aero? People are traveling. So we kind of have, think about a 50-50 or something in that kind of a split that we approximate. So just a quick follow-up. The future is what we make it. In fact, we were actually able to expand segment margin in two of our four segments. In terms of some of the growth drivers, I mean, obviously, it's energy savings, it's security, it's a coherent interface so that building owners or maintainers can understand what's going on. CHARLOTTE, N.C., July 24, 2020 -- Honeywell (NYSE: HON) today announced results for the second quarter of 2020, which were significantly impacted by the COVID-19 pandemic and oil price volatility. In addition, Darius mentioned our new healthy building solution and our partnership with SAP for buildings, which we see as emerging growth opportunities. You gave us SPS orders. SPS segment margin expanded 150 basis points in the quarter driven by productivity, including cost actions, net of inflation and commercial excellence. Will one be picking up a little bit, the other decelerating? So in short, we're very much open for business, both from an M&A perspective, as well as potential buyback perspective. Buy This Industrial Behemoth, The Positive Signs That Drove Honeywell International Stock 23.6% Higher in November, Copyright, Trademark and Patent Information. Q3 20 Guidance. We are partnering with pharmaceutical and biotech customers in our Aclar healthcare packaging business to develop innovative packaging solutions for future COVID-19 therapies and vaccines. As you'll recall, we substantially completed our 2020 share repurchase commitment in the first quarter, and we were focused on liquidity preservation in the second quarter. I am very proud of the part we are planning to keep people safe and healthy by providing new solutions for urgent customer needs. One last one, just getting at the cost discussion in a bit of a different way. Now we -- they've pulled back their schedules a bit in August. So that's kind of how we're thinking about our math for the rest of the year. No, that's fine. I mean, I think we've tried to be -- protect as many jobs as we can because we frankly don't want to be doing a lot of job reductions. Get Honeywell Automation latest Quarterly Results, ... 07.08.2020. Honeywell International Q2 2020 Earnings Call Jul 24, 2020, 8:30 a.m. Right. Very clear on the cost out, what you expect to deliver in 2020. Organic sales in Advanced Materials were down 18% driven by lower automotive refrigerant volumes due to automotive plant closures, offsetting double-digit growth in packaging and composites and electronic materials. So this alliance, we started out in buildings, but I think it's -- I think we have much broader opportunities. ... For Honeywell Automation India Limited Farah Irani Company Secretary Encl: A/a . They may be modified or even abandoned at any time. On the topic of M&A, we are pleased to welcome Emily McNeal to Honeywell this quarter as our new senior vice president, corporate development, and global head of M&A, who will be responsible for maintaining and building our robust pipeline of acquisition opportunities that are strategically well positioned to accelerate Honeywell's growth. Thank you for listening, and please stay safe and healthy. Thank you, Mark, and good morning, everyone. See all features. We prudently deployed approximately $900 million of cash, primarily to dividends and capex investments. ET. Honeywell To Release Second Quarter Financial Results And Hold Its Investor Conference Call On Friday, July 24 PR Newswire CHARLOTTE, N.C., July 10, 2020 CHARLOTTE, N.C., July 10, 2020 … ... and Waldron outlined that Honeywell would end 2020 manufacturing 25 times the number of masks it started the year with. Finally, in Safety and Productivity Solutions, sales were up 1% organically driven by more than 20% growth in Intelligrated and over 100% growth in the respiratory and personal protective equipment space, particularly -- partially offset by weakness in sensing and IoT, portable gas sensing and productivity products. Q2 Fiscal 2020 Financial Results Second quarter fiscal 2020 sales were $1,681.3 million, up 1.5 percent from $1,657.2 million in the second quarter of fiscal 2019. That's sort of the rough guide, how to think about that. The pandemic-led issues will likely get reflected in its Q2 results. And I'm confident we will emerge from this crisis even stronger than ever. And that concludes today's question-and-answer session. That's kind of how we'd think about it. 9/8/2020. Our next question comes from Scott Davis with Melius Research. We are also continuing to see record-level demand for respiratory masks and other personal protective equipment. Our total Honeywell backlog actually is up 3%, and even the PMT backlog is up 2%. - Per. I think that we're going to be making further investments in people, further investments in capacity. So I'm not going to give you a conversion rate because, again, that also is dependent on where things come out on the bottom line, which, as we discussed, we're not going to guide here today. 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We had airlines adding more flights in July and August. And then maybe just my one follow-on question. What we don't know is the capacity additions because all the work -- some of the reductions are taking place in places like Aerospace, to a lesser extent, PMT and so on. What a terrible acquisition. Deutsche Bank Industrials Conference Presentation. And I think you would agree that the balance sheet is very strong and well-protected, well-funded. Sparta Systems is a leading provider of enterprise quality management software (QMS), including a next-generation SaaS platform, for the life sciences industry. In Performance Materials and Technologies, sales were down 17% on an organic basis. So maybe just help us understand where you're seeing free cash flow conversion perhaps for the year as a whole. I think they were 39%, 40% or thereabouts in 2Q. November 9, 2020 BSE Limited National Stock Exchange of India Limited ... Sub: Outcome of the Board Meeting held on November 9, 2020- Unaudited financial results and Limited Review Report for the quarter and half year ended September 30, 2020. CHARLOTTE, N.C., July 24, 2020 -- Honeywell (NYSE: HON) today announced results for the second quarter of 2020, which were significantly impacted by the COVID-19 pandemic and oil price volatility. So not expecting a material downshift from '20 to '21. Makes sense. We also invested over $225 million in capital expenditures in the quarter, up $56 million from the prior year. ET. Just as a follow-up, guys. But now we're adding hundreds, if not thousands of people in SPS, and we don't think we're done. And I'll follow-up with you on the sizing. Vertical Research Partners Global Industrials Conference. I mean, I think it's Aero, it's substantial. A higher adjusted effective tax rate resulted in a $0.06 EPS headwind compared to last year, partially offset by $0.04 of EPS benefit due to lower share count. Honeywell's (HON) strength in commercial aerospace, automation and process solutions businesses as well as buoyancy in demand for the commercial fire and security products will aid Q2 results. And Scott, I think this is an important data point I just want to give you, and I think it's one to remember. Unless otherwise noted, the cost action plans described herein are not final. [Operator instructions] And our first question is coming from Jeff Sprague with Vertical Research. So $250 million of incremental capex that we never had in our budgets. We have both opportunities and challenges in the portfolio, but on balance, we expect sales for the company to be down again more than 15% versus the prior year. First and foremost, the severity of increasing COVID infections and the potential for additional lockdowns is still very fluid and could have significant impacts on the macroeconomic environment. We expect that to grow again. In some of the other businesses, we're adding headcount. And we only spent about 370 million in the first half. Yes. Which, by the way, was substantially different than '08 and '09. Every few years Honeywell closes a plant when they have used up all the people in the community and nobody else will apply for work there. Fluorine products sales into the automotive end market improved sequentially by month throughout the quarter as automotive plants began to reopen. Maybe by a few hundred basis points, but not something that can really swing things around in a major way. We are anticipating that government defense budgets will remain intact, and we expect continued growth in Defense & Space. As we previewed in May, repositioning was significantly higher than the second quarter of last year, driving a $0.19 headwind below the line. And then into 2021, we're going to continue to see improvement. CORK, Ireland, May 1, 2020 /PRNewswire/ -- Johnson Controls International plc (NYSE: JCI) announced its fiscal second quarter results, including a set of immediate actions in response to the evolving conditions and unprecedented uncertainty related to … As we've previously discussed, we entered 2020 with a healthy backlog of global mega projects in HPS, which was still up over 80% year over year for the second quarter, and we expect these projects to continue to convert over the next few quarters. How does that look from your perspective, your perch in the post-COVID world? Honeywell Automation India Limited NSE Symbol:HONAUT, BSE Security Code:517174 has declared its 1st(first) quarter un-audited Standalone financial report from the month of April, 2020 to the month of June, 2020; for the fiscal year 2020-21. Now let me turn it over to Greg on Slide 4 to discuss our second-quarter results in more detail, as well as to provide our views on the third quarter. Our air transport aftermarket business was down 56% organically, and our business aviation aftermarket business was down 50% organically in the quarter. And I think it's very possible that we could be adding even more capacity here in the second half of the year. However, our diversified portfolio and significant balance sheet strength will continue to provide resilience in these uncertain times. Organic sales improved sequentially as the quarter progressed for the short-cycle products businesses. Honeywell Automation India Quarterly Results: Get the key information of Honeywell Automation India Q1, Q2, Q3 and Q4 results, previous Quarterly Results, Quarterly Earnings and comparison on … So for example, we're going to go to the market as a set of solutions for healthcare or hospitals, for stadiums, for airports, for office buildings, for data centers. I mean, some of the products businesses were a little bit more challenged than the systems businesses. And then again, just peeking into 2021 within Aerospace and think about business jets. We'll take our next question from Nigel Coe with Wolfe Research. 4/20/2007. So that's exactly why I chose the words I did because some of those temporary actions, furloughs, some of the other reductions in discretionary spend, that may start ticking up during the course of 3Q. We remain committed to continuing Honeywell's long legacy of innovation and we are continuing to invest in our future in good times and bad. I'm not going to quote you a specific number, Joe. Tax, Promoters and Promoter Group Shareholding, - per like a big! And quality needed an end, and Safety and productivity Solutions adapt and deliver in 2020 investments. Very possible that we provided in may a split that we 're happy with the strong operational and... Am ET J.P. Morgan... Q2 2020 earnings call Jul 24, 2020 AM. You 're taking out 5 % of the markets quarter was one of the most challenging Honeywell... 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