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HONEYWELL INTERNATIONAL INC.

(HON)
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Honeywell International : raises outlook for business jet deliveries as demand rebounds

10/10/2021 | 08:14pm EDT
An aircraft engine being tested at Honeywell Aerospace in Phoenix

(Reuters) - Honeywell International Inc on Sunday raised its outlook for business jet deliveries, as the aviation sector shakes off the effects of the COVID-19 pandemic and travel picks up with easing restrictions.

The U.S. industrial conglomerate forecast up to 7,400 new business jet deliveries worth $238 billion from 2022 to 2031, up 1% from the same 10-year forecast a year ago.

Wealthy travelers wanting to fly with fewer people during the pandemic has put pressure on the availability of new corporate aircraft and led to a shortage of pre-owned business jets.

"The increased demand for used jets is estimated at more than 6,500 units over the next five years, putting pressure on an already record low inventory and driving additional demand for new jets," said Heath Patrick, president of Americas aftermarket for Honeywell Aerospace.

Business jet operators surveyed by Honeywell reported a sharp increase in their used jet purchase plans, 12% above last year's report, the North Carolina-based company said.

Last month, planemaker Boeing Co also revised up its long-term demand forecasts with a rebound in commercial air travel in markets like the United States.

(Reporting by Shreyasee Raj in Bengaluru and Allison Lampert in Montreal; Editing by Maju Samuel)


© Reuters 2021
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Financials (USD)
Sales 2021 35 046 M - -
Net income 2021 5 729 M - -
Net Debt 2021 8 474 M - -
P/E ratio 2021 27,5x
Yield 2021 1,66%
Capitalization 154 B 154 B -
EV / Sales 2021 4,65x
EV / Sales 2022 4,30x
Nbr of Employees 103 000
Free-Float 72,0%
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Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 223,64 $
Average target price 241,83 $
Spread / Average Target 8,13%
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Managers and Directors
Darius Adamczyk Chairman & Chief Executive Officer
Gregory P. Lewis Chief Financial Officer & Senior Vice President
Krishna Mikkilineni SVP-Engineering Operation & Information Technology
Suresh Venkatarayal Chief Technology Officer
Victor J. Miller Secretary, Chief Compliance Officer & VP
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