https://finance.yahoo.com/news/honeywell-nasdaq-hon-misses-q3-100624229.html
Revenue: $9.73 billion vs analyst estimates of $9.90 billion (1.8% miss)
Adjusted EPS: $2.58 vs analyst estimates of $2.50 (3.1% beat)
The company dropped its revenue guidance for the full year to $38.7 billion at the midpoint from $39.4 billion, a 1.8% decrease
Thus cost reduction is the only way! Move work to India
@ezat
Honeywell management is rewarded quarter by quarter. Whereas the lower level employees are rewarded by being able to keep their jobs. There is no reward to the employees for putting out extra effort. In most cases an employee's extra effort is claimed by a supervisor and upper management accepts that. If an employee were offered the ability to purchase stock at a discount, Honeywell may find that employee dedication and efforts would improve. Just my thoughts.
How is HW cant top the 40B per year revenue while buying company after company. Are they that bad at running companies?
Oh, that’s why they’re making me check attendance again. Thanks, HR
Here's an idea, let's start with a RIM this time. I can think of a couple "Senior-" at Engines who has just been going through the motions for some time. Probably can lose at least two directors and four VPs here too. Probably need less HRG and HRM afterwards since so much of their work is on-line or virtual. Maybe outsource them since they really have very little input except during hiring (dried up), mid-years (8 months away), year-end and of course RIFs. A contract HR generalist can push the quota as un-ethically as a HON badged employee.
If you don’t associate Honeywell with growth stocks, you must be lacking your identity and gender.
@7rmn+1v9wxthH Let me save you some money and tell you Honeywell is the polar opposite of a growth stock.
That is truth.
What is worse is that most of the processes I've seen are not actually for either the customers' or Honeywell's benefit. Just pointless processes while real work is starved for the resources to get anything done.
Honeywell is bloated with process creators and their processes. Processes can be good, but too many limits creativity and execution. Customers are fed up with the cost and delays in delivery of our products and from my perspective, much of that is due to our processes. Try getting a critical part shipped out to a customer overnight. It'll take at least two days with rhe approvals process.
Honeywell is a growth stock among growth stocks. Just wait. There is so much market potential for this company. Great time to lean in. Imagine what will happen when processes become world class.
Investors give CEO and board of directors a pip. Then they don't improve and a major shake-up of Honeywell portfolio takes place.
Expect a major merger with general electric, or some other major company. This increases shareholder value.
What about us. Who cares when it comes to making money.
Share price has responded poorly to results, with no growth over the last couple of years. VK and other execs will start feeling the heat if performance doesn’t improve soon. The Q&A session was illuminating. I get the distinct impression investors are losing patience with the lack of improvement, especially in IA. If guidance for 2025 leaves investors disappointed then I can’t see the current exec lasting too long.
Multiple people at engines were put on PIPs. The culling game has begun.
The real problem is that the execs with big egos and even bigger paychecks are not only worthless, but have a net negative effect on the bottom line for the company. The way to save real money is to to eliminate their pay, which is nothing more than an egregious waste of shareholders' equity.
Know what made me laugh. The HoneywellCEO said, “that the Boeing strike doesn’t affect aerospace and we keep sending the parts to them.”
Boeing CEO stated he was trying to save money for adopt me by not accepting parts from suppliers. They have done other cost cutting measures. Know what just tells me about Honeywell. If your aerospace building is really busy and it’s an old building, then company is stockpiling parts.
By Honeywell telling you, that’s wonderful news. You won’t be looking for a new job and you’ll be eager to work even more overtime. Then when they’re done stockpiling. You will be getting an all hands. Where they tell you. They are relocating your facility.
Thanks for super sizing it. Now you can take your super size drink. Fill it up with alcohol and be a future shaper somewhere else.
@3ziz+1v9wxthH You are a joke mate.
@3gyl+1v9wxthH
HR bot? Conspiracies make the world go round, but thinking I'm an HR bot takes the cake. You've got to do better.
Dude why are you associating poor market with poor leadership. The reality is that most of these people are so defeated and demoralized that they should be replaced with new, more optimistic mindsets. A defeated mentality turns you into a sitting duck. Apply some growth mindset and get yourself out of the trenches.
@2wzu+1v9wxthH HR Bot saying 'Dude' to make out she is just one of us is her funniest attempt to date rofl.
@2wzu+1v9wxthH What actual planet are you on. I have to deal on a daily basis with the most unprofessional and unqualified people in my career at EVERY level. It is no joke the current state, just a disaster. I am in IA, cannot speak for Aero but it seems from this board I am far from alone in my suffering.
Dude what are you talking about. There is talent at the company and the problem is not management. If you think that you’re wrong.
Targeted furloughs and PIPs for those they want to encourage to leave are most likely scenario. The company is just starting to recover from years of attrition with a younger generation who are becoming trained to be capable of doing the job. Layoffs are likely last resort scenario as they cost money, have legal consequences, and could be a death knell to certain businesses which are already struggling.
@2iyl+1v9wxthH Cutting benefits across the board would only encourage those who can easily leave to do so, and those are the people they want to keep,
@1xjr+1v9wxthH It's good that you didn't take the recent haircut, but need to pay closer attention to the financials. S&P is up 22% for the year while HON is down about 1%. Diversify.
@1tmo+1v9wxthH Dont be an @$$ - layoffs happen due to many things including business conditions and poor management decisions. My area is understaffed, but they have added multiple program managers to do recovery planning and provide status rather than workers who can actually fix the problem.
Other option to not layoff is to cut vacation days no paid holidays and 401k match. Who votes for that so Hr can see the tally
Revenue Recognition (RR) and Cost of Goods Sold (COGS)
The purpose of recognizing revenue is to calculate revenue and to register the revenue in the project financial data. For long term contracts extending over accounting periods, recognition of revenue is permitted before the contract is complete. This information is later sent to Financials.
Cost of Goods Sold (COGS) is the expense a company incurs in order to manufacture, create, or sell a product. It includes the purchase price of the raw material as well as the expenses of turning it into a product.
For a given contract, revenue recognition is the process that leads to the calculation (and subsequent posting to the General Ledger) of the total revenue that the contractor estimates he has ‘earned’, based on the progress of the contract. This amount is independent of the amounts that have been billed/invoiced to the customer and does not represent any kind of cash flow.
For a given contract, cost of goods sold is the amount of money spent in the process of building a deliverable (for which revenue can be recognized) or the money spent on non-recurring activities (such as engineering design) that have been completed. Cost of Goods Sold transactions are posted to the General Ledger.
The transaction currency of the generated RR and COGS lines matches the project currency. While generating the RR and COGS for a new period, you can settle the previous financial results. When closing the project, the final calculation and the postings are done and the financial results are reversed. Revenue Recognition and Cost of Goods Sold can be determined at the project, extension, element and activity level depending on the method you select. The usage of element and activity depends on whether the project is controlled by element or controlled by activity.
Is there any actual talk of layoff or are we disillusioned by previous years of layoffs?
I am so ready, bring it!
@1tmo+1v9wxthH And right on cue, the clueless HR bot has her melt down.
Definitely seeing the usual short sighted "only revcogs" spending and "utilization above 98%" for the rest of year push in my corner of Aerospace. Sometimes that means RIF ahead, sometimes not.
@1xjr
I've been converting my HON shares to S&P 500 for 5 years now. It's been a good move.
Do you guys not realize that layoffs happen because the employees are not adding real value to the company? Think about what YOU are doing and what YOU can deliver to the company. This is universal - whether at Honeywell or any company for that matter.
Otherwise your job / paycheck is just a type of "unemployment for slightly smarter people".
Just converted all my HON stocks three days ago to S&P500.
Our local HR bot is flipping her lid right now ahahaha.
Let's all hope for a VRIF, so that we can get a paid holiday! ROFL /;-)
Cost Control 2.0