Honeywell International is in the process of restructuring and spinning off several businesses. - Agence France-Presse/Getty Image Honeywell International raised its full-year earnings outlook and recorded a jump in third-quarter sales for its aerospace segment as it moves ahead with plans to spin off the division. In the third-quarter, sales for the industrial conglomerate rose 7% to $10.41 billion. Aerospace sales registered 12% organic growth driven by strength in the commercial aftermarket and defens ...

By Utkarsh Shetti (Reuters) -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, sending its shares up more than 7%. The business, now named Solstice, is set to start trading independently on the Nasdaq from October 30 and is part of Honeywell's plan to split into three independent companies. Aerospace suppliers are enjoying robust demand for parts, benefiting ...

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It is time now for Kramer's Mad Dash as we countd down to the opening bell. What would you like to talk about. >> Well, let's talk about Honeywell.Now, this company is splitting up. We already have a terrific chemicals business uh which by the way, the numbers were uh much better, but people didn't. Some services did not take out the chemical business, so it looked like it might not be as good.That was wrong. You're going to get aerospace, you get this industrial automation business. Let's talk about aerosp ...

分组1 - Honeywell is undergoing a split, with a strong chemicals business that performed better than expected, despite some services not reflecting this strength [1] - Aerospace is highlighted as a significant area of growth, with strong performances reported by GE and RTX, indicating a positive trend in travel and aerospace sectors [2][3] - The recent quarter for Honeywell was strong, contradicting previous downgrades, suggesting that the market may have misjudged the company's performance [3][4] 分组2 - There are quality stocks available in the market that are currently undervalued, presenting potential buying opportunities [4] - The quantum business is noted as a strong segment for Honeywell, similar to IBM, although it has not positively impacted stock performance [5]

霍尼韦尔(HON.US)涨5.3%，报217.55美元。 消息面上，霍尼韦尔第三季度整体销售额为104.1亿美元，同比增长7%，高于分析师平均预期的101.4亿 美元；调整后每股收益为2.82美元，亦超过预期的2.57美元。此外，霍尼韦尔宣布，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。(格隆汇) ...

Group 1 - Honeywell International reported a 9% increase in earnings to $2.82 per share adjusted, exceeding expectations [1] - Revenue for Honeywell climbed 7% to $10.4 billion, surpassing FactSet's forecast of $2.57 per share [1] - Honeywell's stock surged early Thursday, indicating a rebound above key moving averages [1] Group 2 - Quantum computing stocks, including Honeywell's Quantinuum, are experiencing a rally, with D-Wave hitting a record high amid a Tokyo conference [4] - Honeywell's investment in Quantinuum has contributed to the positive momentum in quantum computing stocks [4] - The warehouse automation trend is viewed positively for Honeywell and other related stocks [4]

Financial Performance - Honeywell's net sales for Q3 2025 reached $10,408 million, a 7% increase from $9,728 million in Q3 2024[12] - The company's net income for the nine months ended September 30, 2025, was $4,895 million, compared to $4,450 million for the same period in 2024, reflecting a 10% year-over-year growth[12] - Earnings per share (EPS) for Q3 2025 was $2.87, up from $2.17 in Q3 2024, representing a 32% increase[12] - Honeywell reported a comprehensive income of $1,629 million for Q3 2025, compared to $1,107 million in Q3 2024, indicating a 47% increase[15] - Net income attributable to Honeywell for the nine months ended September 30, 2025, was $4,844 million, compared to $4,420 million for the same period in 2024, reflecting an increase of 9.6%[21] - For the nine months ended September 30, 2025, net income attributable to Honeywell was $4,844 million, with basic earnings per share of $7.57, compared to $4,420 million and $6.79 for the same period in 2024, indicating a 10% increase in net income and an 11% increase in earnings per share[123] Expenses and Costs - Research and development expenses increased to $497 million in Q3 2025, compared to $368 million in Q3 2024, marking a 35% rise[12] - Honeywell's total costs and expenses for Q3 2025 were $8,186 million, up from $7,904 million in Q3 2024, reflecting a 4% increase[12] - The cost of products sold for the nine months ended September 30, 2025, was $13,533 million, compared to $12,448 million for the same period in 2024, indicating an increase of about 8.7%[112] - The cost of products and services sold for the three months ended September 30, 2025, was $8,128 million, compared to $7,384 million in 2024, indicating an increase of about 10.1%[171] Assets and Liabilities - Total assets increased to $80,917 million as of September 30, 2025, up from $75,196 million at December 31, 2024, representing a growth of 9.1%[18] - Total current liabilities increased to $22,639 million as of September 30, 2025, compared to $21,256 million at December 31, 2024, an increase of 6.5%[18] - Long-term debt rose to $30,092 million as of September 30, 2025, up from $25,479 million at December 31, 2024, indicating an increase of 18.5%[18] - Honeywell's total liabilities related to foreign currency exchange contracts as of September 30, 2025, amounted to $898 million, up from $210 million as of December 31, 2024[115] Cash Flow and Dividends - Cash and cash equivalents at the end of the period rose to $12,930 million, up from $10,644 million a year earlier, marking a 21.5% increase[21] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $5,204 million, compared to $3,816 million for the same period in 2024, a growth of 36.3%[21] - Cash dividends paid totaled $2,214 million for the nine months ended September 30, 2025, slightly up from $2,161 million in the same period of 2024[21] - The company reported a cash dividend of $1.13 per share for the three months ended September 30, 2025, compared to $1.08 per share in 2024[24] Strategic Initiatives - The company plans to spin off its Advanced Materials business into a standalone entity, Solstice Advanced Materials, which is expected to enhance strategic focus[5] - The company is evaluating strategic alternatives for its Productivity Solutions and Services and Warehouse and Workflow Solutions businesses[5] - The company plans to separate its Automation and Aerospace Technologies businesses into independent publicly traded companies, expected to be completed in the second half of 2026[50] - Honeywell is focused on three megatrends: automation, future of aviation, and energy transition, leveraging its Honeywell Accelerator operating system[7] Acquisitions and Divestitures - On May 22, 2025, the company announced the acquisition of Johnson Matthey's Catalyst Technologies business for £1.8 billion, expected to close in the first half of 2026[38] - The acquisition of Sundyne on June 6, 2025, was completed for $2,158 million, with identifiable net assets acquired valued at $1,007 million and goodwill of $1,261 million[39] - The company finalized the acquisition of Carrier Global Corporation's Global Access Solutions business for $4,913 million, with net assets acquired valued at $2,074 million and goodwill of $2,924 million[47] - The company completed the sale of its personal protective equipment business for $1,157 million, recognizing a pre-tax loss of $30 million for the nine months ended September 30, 2025[49] Environmental and Legal Matters - As of September 30, 2025, total environmental liabilities amounted to $981 million, up from $678 million at the end of 2024, reflecting an increase of 45%[131] - The company agreed to pay a total of $203 million in penalties and disgorgement to resolve investigations by the DOJ, SEC, and Brazilian authorities[146] - The total number of unresolved asbestos-related claims decreased to 4,302 as of September 30, 2025, down from 4,950 at the end of 2024, indicating a resolution of 1,880 claims during the nine months[136] Shareholder Equity - The total shareowners' equity decreased to $17,747 million as of September 30, 2025, down from $19,154 million at December 31, 2024, a decline of 7.4%[18] - Honeywell's total shares outstanding as of September 30, 2025, were 634.9 million, down from 650.2 million as of September 30, 2024, representing a decrease of approximately 2%[124] - The company repurchased common stock worth $3,704 million during the nine months ended September 30, 2025, compared to $1,200 million in the same period of 2024[21]

Financial Data and Key Metrics Changes - Honeywell's organic sales grew 6% year-over-year in Q3 2025, with earnings per share reaching $2.86, up 32% from the prior year [17][18] - Adjusted earnings per share increased by 9% year-over-year to $2.82, driven by strong segment profit growth and a lower effective tax rate [18] - Free cash flow for Q3 was $1.5 billion, down 16% from the prior year due to capital expenditure timing and higher working capital [18] Business Line Data and Key Metrics Changes - Aerospace technologies saw a 12% organic growth, with a book-to-bill ratio of 1.2, although segment margin decreased to 26.1% due to cost inflation [19] - Industrial automation returned to growth with a 1% organic increase, but segment margin declined to 18.8% due to inflationary pressures [20] - Building automation achieved a 7% organic sales increase, with margin expanding by 80 basis points year-over-year [21] - Energy and sustainability solutions experienced a 2% organic decline, with segment margin flat at 24.5% [22] Market Data and Key Metrics Changes - Orders grew 22% organically to $11.9 billion, with strong performance across all segments [17] - North America and the Middle East led regional growth in building automation, while Europe saw its fourth consecutive quarter of organic growth [21] Company Strategy and Development Direction - Honeywell is planning to separate its Aerospace segment in 2026, aiming for a simpler organizational structure to enhance focus and agility [7][9] - The company is also realigning its automation business segments to better reflect operational strategies and drive long-term growth [11][12] - Honeywell is committed to leveraging data to address enterprise-level challenges and enhance value creation [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate economic uncertainties and achieve margin expansion in 2026 [35][36] - The company anticipates that pricing strategies will improve in 2026, contributing to margin growth [78] - Management highlighted strong order momentum and a positive outlook for the aerospace sector, expecting continued growth in defense and space [26][51] Other Important Information - Honeywell is set to spin off Solsys Advanced Materials, which is expected to reduce 2025 sales by $700 million and adjusted EPS by approximately $0.21 [22][23] - The company has completed significant transactions to simplify its balance sheet, including divesting liabilities and receiving $1.6 billion in cash [10] Q&A Session Summary Question: What is the expected margin decline for Energy and Sustainability Solutions (ESS) in Q4? - Management indicated that the decline is primarily due to mix issues and expects ESS margins to normalize in 2026 [40][44] Question: Can you provide insights on the Industrial Automation segment's performance? - Management noted that while Q3 saw growth, Q4 is expected to show a decline due to timing variability in large orders [48][50] Question: What is the status of the aerospace destocking? - Management believes that destocking is largely behind them, with expectations for improved growth rates in commercial OE [51] Question: How is the pricing strategy evolving across the organization? - Management emphasized a focus on preserving margins while maintaining volume, with expectations for improved pricing in 2026 [76][78] Question: What are the implications of the Solsys spin-off on the company's financials? - The spin-off is expected to impact sales and EPS, but management remains optimistic about overall growth and margin expansion [22][23]

Financial Data and Key Metrics Changes - Honeywell's organic sales grew 6% year-over-year in Q3 2025, exceeding expectations, with earnings per share (EPS) at $2.86, up 32% from the prior year [17][18] - Adjusted EPS was $2.82, reflecting a 9% year-over-year increase, driven by strong segment profit growth and a lower effective tax rate [18] - Free cash flow for Q3 was $1.5 billion, down 16% from the previous year due to capital expenditure timing and higher working capital [18] Business Line Data and Key Metrics Changes - Aerospace Technologies saw a 12% organic growth, with a book-to-bill ratio of 1.2, although segment margin decreased to 26.1% due to cost inflation [19] - Industrial Automation returned to growth with a 1% organic increase, but segment margin declined to 18.8% due to inflationary pressures [20] - Building Automation achieved a 7% organic sales increase, with margin expanding by 80 basis points year-over-year [21] - Energy and Sustainability Solutions (ESS) experienced a 2% organic decline, with segment margin flat at 24.5% [22] Market Data and Key Metrics Changes - Orders grew 22% organically to $11.9 billion, with strong performance across all segments, indicating a broad-based recovery [17] - North America and the Middle East led regional growth, while Europe saw its fourth consecutive quarter of organic growth [21] Company Strategy and Development Direction - Honeywell is planning to separate its Aerospace segment in 2026, aiming to simplify its structure and enhance operational agility [7][9] - The company is focusing on innovation and R&D investments to drive growth, with a commitment to developing new solutions for customer challenges [5][17] - A new segment structure will be implemented in 2026, reporting four business segments to align with operational strategies [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate economic uncertainties and maintain growth momentum into 2026 [35][36] - The anticipated spin-off of Solstice Advanced Materials is expected to impact 2025 sales by $700 million but is seen as a strategic move for long-term value creation [22][23] - Management highlighted the importance of leveraging data to address enterprise-level challenges and improve operational efficiencies [36] Other Important Information - Honeywell's recent divestitures, including the Bendix asbestos liability, are expected to simplify the balance sheet and enhance financial flexibility [10] - The company is actively reviewing strategic alternatives for parts of its portfolio that do not fit its business model [97] Q&A Session Summary Question: What is the outlook for ESS margins in Q4? - Management indicated that ESS margins may see a decline due to mix issues but expect normalization in 2026 as project activity improves [40][44] Question: What is the status of the Industrial Automation segment? - Management noted that while Q3 saw growth, Q4 may experience a decline due to timing variability in larger orders, but they are optimistic about margin expansion in 2026 [48][50] Question: How is the Aerospace division performing regarding destocking? - Management believes that destocking is largely behind them, with expectations for improved growth rates in the fourth quarter and beyond [51] Question: What are the expectations for Building Automation margins? - Management expressed confidence in continued margin expansion for Building Automation, attributing recent performance to a favorable mix of projects and products [57][59] Question: What is the company's pricing strategy moving forward? - Management emphasized a focus on preserving margins while maintaining volume, with expectations for improved pricing strategies in 2026 [75][78]