Honeywell Delivers Strong Earnings With 370 Basis Points Of Operating Margin Expansion And 180 Basis Points Of Segment Margin Expansion; Raises 2019 Full-Year Earnings And Margin Guidance(1)

- Reported Sales Down 16% Due to Impact of 2018 Spin-Offs; Organic Sales up 3% Driven by Aerospace, Process Solutions, and Building Technologies CHARLOTTE, N.C., Oct. 17, 2019 /PRNewswire/ — Honeywell (HON) today announced its financial results for the third quarter of 2019 and raised its full-year segment margin and adjusted earnings per share financial guidance1, narrowed its sales guidance and reaffirmed its cash flow guidance. “We continue to deliver strong results and returns for our shareowners, even with the ongoing uncertainty in the macroeconomic environment,” said Darius Adamczyk, chairman and chief executive officer of Honeywell. “We delivered adjusted earnings per share2 of $2.08, up 9%, excluding the impact of the spin-offs2, which was above the high end of our third-quarter guidance range. Organic sales growth of 3% was driven by strength across Aerospace, continued demand for commercial fire products in Building Technologies, and broad-based growth in Process Solutions. In addition, Honeywell Connected Enterprise drove double-digit connected software growth, continuing our transformation into a premier software industrial company. Our produ...

The gig might be up: Calif. moves to clarify who is an independent contractor and who is an employee

SACRAMENTO, Calif. (KTVU) – Kat Palma, 30, of Pittsburg was lured to deliver packages after reading Amazon’s offers to “be her own boss and set her own hours.” She definitely liked the extra cash. But pretty soon, Palma realized the contract courier job was not all it was cracked up to be. “I wasn’t given breaks,” she said. “They never accommodated my needs when I was pregnant. I had to carry huge packages and eat lunch. I just had to continue working or I’d get chewed out.” Assembly Bill 5, which passed 59 to 15 on Wednesday, seeks to help Palma and other gig economy contractors like her by clarifying and codifying a groundbreaking state Supreme Court decision from last April called Dynamex Operations West Inc. v. Superior Court of Los Angeles. That decision set a standard in California to determine whether someone is an independent contractor or an employee. The legislation comes at a time when it seems like almost everyone has a part-time gig driving for a rideshare or delivery company, trying to earn some extra cash to make ends meet. Gig economy supporters say they are providing a much-needed resource for extra income and that many regular people love the ...