Honeywell Stock Is on the Road to Recovery: Here's Why
In line with most other industrial companies, Honeywell International (NYSE: HON) is facing some very difficult end markets in 2020. The company is definitely on the road to recovery, but it faces a long and rocky path ahead, and investors will need to be patient before they see significant improvement. Let's take a look at what we can expect and whether the stock is a good value in light of the recent earnings report.
The impact of the COVID-19 economy on the industrial stock can best be seen in the company's growth by segment. The chart below highlights the deterioration in the aerospace segment last quarter. A slump in commercial air travel and commercial airplane production caused a year-over-year organic sales decline of 27% for the segment.
Moreover, management expects the segment's sales to be down more than 25% in the third quarter.
Source Fool.com
