每经AI快讯，10月23日，霍尼韦尔盘前上涨3.7%。 ...

Financial Performance - Third-quarter sales reached $10.4 billion, reflecting a 7% year-over-year increase and 6% organic sales growth, exceeding the high end of previous guidance [4] - Earnings per share for the third quarter was $2.86, a 32% increase year-over-year, while adjusted earnings per share was $2.82, up 9% year-over-year [4] - Honeywell reported net sales of $10,408 million for the three months ended September 30, 2025, an increase of 7% compared to $9,728 million in the same period of 2024 [24] - The company's net income attributable to Honeywell for the three months ended September 30, 2025, was $1,825 million, up from $1,413 million in the same period of 2024, representing a 29% increase [24] - Honeywell's adjusted earnings per share for the nine months ended September 30, 2025, was $7.57, compared to $6.79 for the same period in 2024, marking an increase of 11.5% [24] - Segment profit for Honeywell in Q3 2025 was $2,407 million, compared to $2,296 million in Q3 2024, indicating a 4.8% increase [46] - For the three months ended September 30, 2025, diluted earnings per share increased to $2.86 from $2.16 in 2024, representing a growth of 32.3% [54] Sales and Growth - Total backlog reached a record high, with orders increasing by 22%, driven by strong performance in Aerospace Technologies and Energy and Sustainability Solutions [4] - Aerospace Technologies sales grew 12% organically year-over-year, with commercial aftermarket sales increasing by 19% [8] - Building Automation sales increased 7% organically, supported by growth in North America and the Middle East [9] - Energy and Sustainability Solutions sales decreased 2% year-over-year on an organic basis, with advanced materials growing 5% [9] - Aerospace Technologies segment net sales increased to $4,511 million in Q3 2025, compared to $3,912 million in Q3 2024, reflecting a growth of 15% [26] - Reported sales percent change for Honeywell in Q3 2025 was 7%, with organic sales percent change at 6% after adjusting for foreign currency translation [41] - Aerospace Technologies reported a sales percent change of 15% in Q3 2025, with an organic sales percent change of 12% [41] - Industrial Automation experienced a reported sales percent change of (9)% in Q3 2025, with an organic sales percent change of 1% [41] Financial Guidance and Projections - Full-year sales guidance has been raised to $40.7 billion to $40.9 billion, with organic sales growth expected to be approximately 6% [5] - Segment margin is projected to be in the range of 22.9% to 23.0%, with an expected year-over-year expansion of 30 to 40 basis points [5] - Operating cash flow for the year is now expected to be between $6.4 billion and $6.8 billion, while free cash flow is projected to be between $5.2 billion and $5.6 billion [5] - The expected cash provided by operating activities for the twelve months ended December 31, 2025, is projected to be between $6.4 billion and $6.8 billion, excluding the impact of the Solstice spin-off [65] - The anticipated capital expenditures for the twelve months ended December 31, 2025, are approximately $1.3 billion [65] - Adjusted earnings per share for the twelve months ended December 31, 2025, is expected to be in the range of $10.60 to $10.91, compared to $9.89 for the twelve months ended December 31, 2024, indicating a projected increase of 7.2% to 10.2% [54] Cash Flow and Investments - Operating cash flow for the nine months ended September 30, 2025, was $5,204 million, compared to $3,816 million for the same period in 2024, reflecting a 36% increase [34] - Cash provided by operating activities for the three months ended September 30, 2025, was $3.288 billion, up from $1.997 billion in 2024, reflecting a growth of 64.5% [61] - Free cash flow for the three months ended September 30, 2025, was $1.450 billion, compared to $1.718 billion in 2024, showing a decrease of 15.6% [61] - Net cash used for investing activities in Q3 2025 was $(488) million, a significant decrease from $(2,797) million in Q3 2024 [34] - Honeywell's capital expenditures for the nine months ended September 30, 2025, totaled $(928) million, compared to $(771) million for the same period in 2024, reflecting a 20% increase [34] Strategic Initiatives - The company is progressing with its separation into three publicly-listed entities, with the spin-off of Solstice Advanced Materials set for October 30, 2025 [6] - The company plans to spin off its Advanced Materials business into a standalone entity, Solstice Advanced Materials, which is expected to be publicly traded [20] - Honeywell is evaluating strategic alternatives for its Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, indicating potential market expansion strategies [20] Research and Development - Research and development expenses for the three months ended September 30, 2025, were $497 million, up from $368 million in the same period of 2024, representing a 35% increase [24] Assets and Liabilities - Honeywell's total assets increased to $80,917 million as of September 30, 2025, compared to $75,196 million at the end of 2024, reflecting a growth of 7.2% [32] Adjustments and Other Financial Metrics - The adjustment for divestiture-related costs for the three months ended September 30, 2025, was $382 million, net of tax expense of $115 million [56] - The expected adjustment for acquisition-related intangibles amortization for the twelve months ended December 31, 2025, is approximately $460 million, net of tax benefit of approximately $110 million [56] - The gain related to the Resideo indemnification and reimbursement agreement termination for the three months ended September 30, 2025, was $802 million [56] - The adjustment for loss on expected settlement of divestiture of asbestos liabilities for the three months ended September 30, 2025, was $112 million, net of tax benefit of $36 million [56]

Honeywell on Thursday raised its 2025 profit forecast despite the impact of a planned separation of its advanced materials unit, signaling robust growth prospects fueled by strong aerospace demand. ...

Core Insights - Honeywell reported third-quarter results that met or exceeded guidance, with a year-over-year sales growth of 7% and organic sales growth of 6% [2][10] - The company raised its full-year organic growth and adjusted earnings per share guidance, while also updating its free cash flow guidance [1][4] Financial Performance - Third-quarter operating income decreased by 6%, while segment profit increased by 5% to $2.4 billion, driven by growth in Energy and Sustainability Solutions and Building Automation [2][18] - Earnings per share for the third quarter was $2.86, reflecting a 32% increase year over year, and adjusted earnings per share was $2.82, up 9% year over year [2][18] - Operating cash flow was reported at $3.3 billion, a 65% increase year over year, while free cash flow decreased by 16% to $1.5 billion [2][18] Segment Performance - Aerospace Technologies saw a 12% organic sales growth, with commercial aftermarket sales increasing by 19% [11][19] - Industrial Automation experienced a 1% organic sales growth, while Building Automation reported a 7% organic growth [12][13] - Energy and Sustainability Solutions sales decreased by 2% year over year on an organic basis, with advanced materials growing by 5% [14][19] Guidance Updates - Full-year sales are now expected to be between $40.7 billion and $40.9 billion, with organic sales growth projected at approximately 6% [4][16] - Adjusted earnings per share guidance has been raised to a range of $10.60 to $10.70, reflecting a 10-cent increase at the midpoint from prior guidance [4][16] - The impact of the upcoming spin-off of Solstice Advanced Materials is expected to reduce full-year sales by $0.7 billion and adjusted earnings per share by $0.21 [3][4] Strategic Initiatives - Honeywell is progressing towards separating into three publicly-listed companies, with the spin-off of Solstice Advanced Materials set for October 30, 2025 [3][6] - The company announced a reorganization into a simplified structure for its automation businesses, expected to begin in the first quarter of 2026 [7][8]

Core Viewpoint - Honeywell (HON.US) is actively pursuing a plan to spin off its aerospace technology business, aiming to establish an independent publicly traded aerospace company by the second half of 2026. This move is seen as a significant step towards simplifying operations and focusing on industrial automation and digital transformation [1]. Company Summary - Honeywell's stock price increased by 1.36% to $209.43 in pre-market trading [1]. - The aerospace technology business spinoff will provide propulsion systems, cockpit systems, navigation systems, and auxiliary power systems for both commercial and military aircraft [1]. - The company reported a closing price of $206.61, down 1.18%, with a market capitalization of $131.18 billion [1]. Financial Metrics - The stock's highest price was $210.185, with a trading volume of 4.27 million shares [1]. - The price-to-earnings (P/E) ratio is reported at 23.50, while the price-to-book (P/B) ratio stands at 8.149 [1]. - The stock has a 52-week high of $240.468 and a low of $177.524, indicating a significant range in its trading performance [1].

霍尼韦尔表示，此次航空航天技术业务分拆是简化运营、聚焦工业自动化与数字化转型的重要一步。分 拆后的航空航天公司将为商用及军用飞机提供推进系统、驾驶舱系统、导航系统及辅助动力系统。 分拆完成后，霍尼韦尔剩余业务将重点发力工业、楼宇及过程领域的自动化技术。具体管理分工如下： Billal Hammoud将负责楼宇自动化业务，Peter Lau将主管工业自动化业务，Jim Masso将负责过程自动化 业务，Ken West将领导过程技术业务。四位高管均向继续担任霍尼韦尔董事长兼首席执行官的Vimal Kapur汇报。 据了解，霍尼韦尔最初于2月6日宣布分拆航空航天技术业务的意向。该公司表示，预计此项交易对股东 而言，在美國联邦所得税层面将属于免税范畴。 此次航空航天业务分拆将在Solstice部门剥离之后进行，标志着霍尼韦尔自2024年启动的两阶段业务组 合重塑计划将全面完成。 智通财经APP获悉，霍尼韦尔(HON.US)周三宣布，正积极推进在2026年下半年剥离其航空航天技术业 务的计划，届时将成立一家独立上市的航空航天公司。此前，霍尼韦尔已启动更广泛的业务组合重组， 重组后公司将聚焦三大核心业务板块：楼宇自动化 ...

来源：市场资讯 （来源：欧洲并购与投资） PART 01 霍尼韦尔宣布重组业务板块 PART 02 霍尼韦尔公布更新后的业务部门架构 在航空航天技术业务分拆后，霍尼韦尔将成为工业界从自动化向自主化转型的全球领导者，凭借全面的 基于成果的技术、解决方案和软件组合，推动客户的生产力。霍尼韦尔将连接资产、人员和流程，推动 数字化转型，依托其数十年的技术领先地位、深厚的专业经验和庞大的安装基础。在航空航天技术业务 分拆后，霍尼韦尔将有三个业务部门： • 建筑自动化Building Automation（BA）：霍尼韦尔凭借世界一流、跨领域的专业知识以及在全球数百 万座建筑中用于防火、控制、出入和安防的解决方案和服务组合，正在改变建筑和基础设施的运营方 式。通过提供涵盖硬件、软件、传感器和分析的统一建筑自动化解决方案，帮助客户将建筑转变为安 全、可持续和集成的资产。 霍尼韦尔10月22日宣布其业务部门架构更新，以迎接计划于2026年下半年进行的航空航天技术业务分 拆，以及预计将于2025年10月30日完成的Solstice先进材料公司(Solstice Advanced Materials) 业务分拆。 2025年2月 ...

Group 1 - American Airlines Group Inc. is expected to report a quarterly loss of 28 cents per share on revenue of $13.63 billion [2] - Tesla Inc. reported third-quarter revenue of $28.095 billion, a 12% increase year-over-year, but earnings per share missed estimates at 50 cents [2] - Honeywell International Inc. is anticipated to post quarterly earnings of $2.57 per share on revenue of $10.14 billion [2] - International Business Machines Corp reported better-than-expected financial results and now expects constant currency revenue growth of more than 5% for full-year 2025 [2] - Ford Motor Co. is expected to report quarterly earnings of 36 cents per share on revenue of $43.08 billion [2]

We came across a bullish thesis on Honeywell International Inc. on The Value Road’s Substack. In this article, we will summarize the bulls’ thesis on HON. Honeywell International Inc.'s share was trading at $208.61 as of October 14th. HON’s trailing and forward P/E were 24.01 and 18.35 respectively according to Yahoo Finance. Costco Wholesale Corporation (COST)'s A Short Term Disappointment With Long Term Potential, Says Jim Cramer Copyright: kzenon / 123RF Stock Photo Honeywell has announced a strategi ...

Core Insights - Honeywell is restructuring its business segments ahead of the planned spin-off of its Aerospace Technologies and Solstice Advanced Materials businesses, aiming to unlock value and drive long-term growth [1][2][10]. Business Segment Structure - Starting Q1 2026, Honeywell will report under four segments: Aerospace Technologies, Building Automation, Industrial Automation, and Process Automation and Technology, effective January 1, 2026 [2][6]. - After the Aerospace Technologies spin-off, Honeywell will focus on three reportable segments: Building Automation, Industrial Automation, and Process Automation and Technology [5][6]. Aerospace Technologies Spin-off - The Aerospace Technologies business is on track for separation in the second half of 2026, positioning itself as a leading independent aerospace supplier with a focus on electrification and autonomy in aviation [3][4]. - Honeywell Aerospace's technology is utilized across nearly all commercial and defense aircraft platforms globally, including propulsion and navigation systems [3][4]. Building Automation - Honeywell's Building Automation segment aims to enhance building operations through integrated solutions for fire prevention, security, and energy efficiency, impacting millions of buildings worldwide [7]. Industrial Automation - The Industrial Automation segment provides essential technologies and smart devices that ensure reliability and connectivity across various industrial applications [7]. Process Automation and Technology - Honeywell offers a comprehensive suite of Process Automation solutions that support digital transformation and enhance efficiency, reliability, and sustainability in industrial operations [7]. Leadership Structure Post Spin-off - Following the spin-off, Honeywell's segments will be led by dedicated CEOs for each area, reporting to Vimal Kapur, who will remain as Chairman and CEO [9].