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Key Industrial Earnings for April 22: GE, HON, CAT

Madeleine Johnson
Updated

As Q1 earnings season continues, more and more companies are starting to post their earnings results. Friday morning saw three industrial giants report their fiscal 2016 first quarter earnings: General Electric Company GE, Honeywell International HON, and Caterpillar, Inc. CAT.

Infrastructure and technology giant General Electric reported relatively modest Q1 results. The company reported operating earnings, including industrials and verticals, of $0.21 per share, which fell in line with the Zacks Consensus Estimate and improved 5% year-over-year.

Total consolidated revenue increased 6% year-over-year to $27.85 billion, missing our consensus estimate of $28.976 billion. As GE aims to build upon the momentum for a rise in operating profit, the company has reiterated its previous 2016 guidance.

Honeywell, a leading diversified technology and manufacturing company, saw strong Q1 results. Earnings per share came in at $1.53, beating the Zacks Consensus Estimate of $1.50 per share and reflecting a year-over-year increase of 9%.

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Revenues of $9.52 billion topped our consensus estimate of $9.376 billion thanks to strong ACS commercial, residential, and Chinese business, sound aerospace trade, and increased sales of Fluorine Products and Process Solutions in PMT.

The largest construction company in the world, Caterpillar, reported Q1 adjusted earnings of $0.67 per share, missing our consensus estimate of $0.68 per share. Revenues came in at $9.46 billion, beating the Zacks Consensus Estimate but falling 25% from the year-ago period.

As a result of these weaker than expected results, Caterpillar has narrowed both its 2016 adjusted earnings and revenue outlooks to $3.70-$4.00 per share and $40 billion-$42 billion, respectively.

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HONEYWELL INTL (HON): Free Stock Analysis Report
 
GENL ELECTRIC (GE): Free Stock Analysis Report
 
CATERPILLAR INC (CAT): Free Stock Analysis Report
 
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