The company said gross margin for Q1 2024 increased by about $0.2 billion, and gross margin percentage rose 70 basis points to 38.7% from 38.0% in the same period of 2023.

1. 01

   The company said gross margin for Q1 2024 increased by about $0.2 billion, and gross margin percentage rose 70 basis points to 38.7% from 38.0% in the same period of 2023.

2. 02

   Honeywell said Aerospace Technologies sales rose $558 million and segment margin was 28.1% (26.6% in the prior-year period), while Industrial Automation sales fell $325 million and its segment margin was 16.8% (18.8% in the prior-year period).

3. 03

   The company said operating cash flow for the 3 months was $448 million, investing activities used $273 million, and financing activities provided $3,696 million, driven by $5,710 million of long-term debt issuance, mainly to fund the Carrier acquisition.

4. 04

   The company said that as of March 31, 2024, it held cash and cash equivalents, including short-term investments, of $12.0 billion (as of December 31, 2023, $8.1 billion), and total borrowings of $25.3 billion (as of December 31, 2023, $20.4 billion).

Key figures

Quarter ended March 31, 2024

Revenue

$9.1B

Operating income

$2.0B

Net income

$1.5B

EPS

$2.23

Operating cash flow

$448M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.