Honeywell, Caterpillar, General Electric and others release their latest earnings;Toshiba plans to split into two separate companies

2022-05-01 0 By

Honeywell (NYSE: HON) announced its fourth quarter and full year 2021 results.Sales in the fourth quarter were $8.657 billion, down 3% year on year;Net income was $1.442 billion, compared with $1.379 billion a year earlier.By business segment, the aerospace segment had net sales of $2.896 billion, the building technology segment had net sales of $1.404 billion, the performance Materials and Technology segment had net sales of $2.605 billion, and the safety and Productivity Solutions segment had net sales of $1.752 billion.Sales of $34.392 billion in 2021, up 5% year on year;Net income was $5.61 billion, compared with $4.865 billion the year before.Caterpillar reports earnings.Total revenue for the fourth quarter of 2021 increased 23% year-over-year to $13.8 billion.Net income jumped 170 per cent to $2.12bn from $780m a year earlier.By business segment, construction rose 27% to $5.74 billion, energy and transportation rose 19% to $5.73 billion and resources rose 27% to $2.76 billion.General Electric (GE) reports fourth-quarter and full-year 2021 results.Total revenue for the fourth quarter was $20.303 billion, down 3 percent from a year earlier.Organic revenue in the industrial segment was $19.6 billion, down 3 percent from a year ago.Net loss attributable to the company’s common Stockholders was $3.00 billion, compared with net income of $2.442 billion a year earlier.By business segment, aviation segment revenue was $6.08 billion, an increase of 4%;Healthcare revenue was $4.625 billion, down 4%;Renewable energy revenue was $4.192 billion, down 6%;Power generation revenue was $4.661 billion, down 13 percent from a year earlier.Total revenue for the year was $74.196 billion, down 2% from the previous year.Trane Technologies reports fourth-quarter 2021 results.Quarterly net sales were $3.569 billion, up 12% from $3.179 billion a year earlier.Quarterly operating income was $436 million, up 12% from $388 million a year earlier.Full-year net sales for 2021 were $14.136 billion, up 13% from $12.455 billion in 2020.Operating income for the full year was $2.023 billion, up 32% from $1.533 billion in 2020.In its consolidated results for the first three quarters of fiscal 2021 (April to December), Panasonic said net profit rose 50.3 percent from a year earlier to 19.6 billion yen.Sales of lithium-ion batteries and electronic components for TESLA, the U.S. battery electric vehicle (EV) giant, are good.Sales rose 11.3 per cent to Y5,4233,000bn, ensuring both revenue and profit growth.Blue Yonder, a U.S. IT company acquired for 860 billion yen, also contributed to the consolidated financial results.Profits of its main home appliance business declined due to the base effect of household demand due to the spread of COVID-19 and high raw material costs.Toshiba announced its intention to split the company into two separate companies instead of the three previously announced.The two companies are Toshiba Infrastructure Services and Toshiba Equipment.Toshiba Infrastructure Services owns Toshiba’s energy Systems and Solutions, Infrastructure Systems and Solutions, digital Solutions and battery businesses.It would also include Toshiba’s ownership stake in Kioxia Holdings Corp., the world’s second-largest flash-memory maker.In addition, Toshiba Devices Will own Toshiba’s electronic devices and storage solutions business.The restructuring remains on schedule for completion in the second half of fy2023.Toshiba said the split into two companies would be more cost-effective and smoother than the original plan.Toshiba also said it had classified its publicly traded electronics business, Toshiba Tec Corp., as a non-core business.Carrier global said it had agreed to buy 55 per cent of Toshiba’s Toshiba Carrier air conditioning joint venture for about Y100bn ($869m) in a deal that would reduce its stake in the venture to 5 per cent.Carrier global said the deal will strengthen its position in HVAC and expand its variable refrigerant flow product platform.NOK, a Japanese manufacturer of sealing parts, has opened a new plant in Changchun to produce rubber parts for automobiles.Production will begin in April with an annual output of 200 million parts.NOK will invest Rmb520m in the new plant through NOK Singapore, a joint venture with German parts maker Freudenberg.NOR, which previously owned a rubber parts factory in Changchun, will move to the new facility to double its capacity.NOK’s rubber parts business focuses on products used in automobiles and machinery.Amp Energy announces new flagship storage facility in Europe.Amp Energy, a global platform for Energy Transformation and renewable Energy developer, today announced the construction of two of Europe’s largest 800 megawatt battery storage facilities (the “Scottish Green Battery Complex”) in central Scotland.The project will be operational in April 2024 and will consist of two 400 MEGAwatt battery packs, each providing a capacity of 800 megawatt hours.Over the next few years, the Amp Scottish battery facility will enable Scotland to deliver up to 1,750 gigawatts of new renewable energy externally to the rest of the UK each year, equivalent to about 500 megawatts of new offshore wind.Asia Clean Energy Capital (ACC) launched xianju 20MW industrial rooftop PV project after the New Year.Asia Clean Energy Capital will set up a wholly foreign-owned company in Xianju to develop and build rooftop pv power plants for fortune 500 foreign companies and well-known domestic enterprises in Xianju Economic Development Zone.The project will use the idle roofs and land of enterprises to install photovoltaic power generation system, and realize the combination of new energy and modern medical equipment manufacturing industry.The first phase of xianju rooftop distributed PV installation is about 10MW, which will be launched after the Spring Festival.