Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various financial markets [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content includes insights into sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

```markdown PART I Financial Information [Financial Statements and Supplementary Data (unaudited)](index=5&type=section&id=ITEM%201%20Financial%20Statements%20and%20Supplementary%20Data%20(unaudited)%3A) This section provides Honeywell's unaudited consolidated financial statements for Q2 and YTD 2025, including key statements and detailed notes on accounting policies, acquisitions, revenue, and segment data [Consolidated Statement of Operations](index=5&type=section&id=Consolidated%20Statement%20of%20Operations) Honeywell reported an 8.1% increase in Q2 2025 net sales to $10.35 billion, with diluted EPS rising to $2.45, reflecting growth in both product and service sales Consolidated Statement of Operations Highlights (Q2 & YTD 2025 vs. 2024) | Metric | Q2 2025 | Q2 2024 | % Change | YTD 2025 | YTD 2024 | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $10,352M | $9,577M | +8.1% | $20,174M | $18,682M | +7.9% | | Product Sales | $7,119M | $6,477M | +10.0% | $13,764M | $12,740M | +8.0% | | Service Sales | $3,233M | $3,100M | +4.3% | $6,410M | $5,942M | +7.9% | | **Income Before Taxes** | $1,871M | $1,974M | -5.2% | $3,755M | $3,845M | -2.3% | | **Net Income Attributable to Honeywell** | $1,570M | $1,544M | +1.7% | $3,019M | $3,007M | +0.4% | | **EPS (Diluted)** | $2.45 | $2.36 | +3.8% | $4.67 | $4.59 | +1.7% | [Consolidated Balance Sheet](index=7&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2025, total assets increased to $78.4 billion, driven by goodwill from acquisitions, while liabilities and long-term debt also grew, leading to a decrease in shareowners' equity Consolidated Balance Sheet Highlights (June 30, 2025 vs. Dec 31, 2024) | Account | June 30, 2025 | Dec 31, 2024 | Change | | :--- | :--- | :--- | :--- | | **Total Current Assets** | $27,967M | $27,908M | +$59M | | Cash and cash equivalents | $10,349M | $10,567M | -$218M | | **Goodwill** | $23,804M | $21,825M | +$1,979M | | **Total Assets** | $78,419M | $75,196M | +$3,223M | | **Total Current Liabilities** | $21,619M | $21,256M | +$363M | | **Long-term Debt** | $30,167M | $25,479M | +$4,688M | | **Total Honeywell Shareowners' Equity** | $16,095M | $18,619M | -$2,524M | [Consolidated Statement of Cash Flows](index=8&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) Net cash from operating activities slightly increased in H1 2025, while investing cash outflows significantly decreased due to lower acquisitions and a business sale, and financing activities shifted to a net cash outflow Cash Flow Summary (Six Months Ended June 30) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | **Net Cash Provided by Operating Activities** | $1,916M | $1,819M | | **Net Cash Used for Investing Activities** | ($1,880M) | ($5,405M) | | Cash paid for acquisitions, net | ($2,163M) | ($4,913M) | | Proceeds from sale of business, net | $1,157M | $0M | | **Net Cash (Used for) Provided by Financing Activities** | ($421M) | $5,298M | | Repurchases of common stock | ($3,604M) | ($1,200M) | | Proceeds from issuance of long-term debt | $4,035M | $5,710M) | | **Net (Decrease) Increase in Cash** | ($218M) | $1,651M | [Note 3 – Acquisitions and Divestitures](index=11&type=section&id=Note%203%20%E2%80%93%20Acquisitions%20and%20Divestitures) Honeywell actively transformed its portfolio in 2025 through acquisitions like Sundyne and planned divestitures, alongside announced spin-offs of Advanced Materials, Automation, and Aerospace Technologies businesses - Completed the acquisition of Sundyne for $**2.15 billion** and Carrier's Global Access Solutions business for $**4.91 billion**[38](index=38&type=chunk)[44](index=44&type=chunk) - Announced an agreement to acquire Johnson Matthey's Catalyst Technologies business for £**1.8 billion**, expected to close in H1 2026[37](index=37&type=chunk) - Completed the sale of its personal protective equipment (PPE) business for $**1.157 billion**[47](index=47&type=chunk) - Announced intentions to spin off its Advanced Materials business (expected Q4 2025) and separate its Automation and Aerospace Technologies businesses (intended for H2 2026)[48](index=48&type=chunk)[49](index=49&type=chunk) [Note 4 – Revenue Recognition and Contracts with Customers](index=14&type=section&id=Note%204%20%E2%80%93%20Revenue%20Recognition%20and%20Contracts%20with%20Customers) Honeywell's revenue is disaggregated by segment, with total remaining performance obligations of $36.6 billion as of June 30, 2025, of which 56% is expected to be recognized within one year - Total remaining performance obligations (backlog) as of June 30, 2025, were $**36.6 billion**[67](index=67&type=chunk) - Of the total backlog, **56%** is expected to be satisfied within one year, and **44%** after one year[68](index=68&type=chunk) Disaggregated Revenue by Segment (Six Months Ended June 30, 2025) | Segment | Net Sales (in millions) | | :--- | :--- | | Aerospace Technologies | $8,479 | | Industrial Automation | $4,758 | | Building Automation | $3,518 | | Energy and Sustainability Solutions | $3,398 | | **Total Net Sales** | **$20,174** | [Note 15 – Commitments and Contingencies](index=27&type=section&id=Note%2015%20%E2%80%93%20Commitments%20and%20Contingencies) Honeywell faces various commitments and contingencies, including $755 million in environmental liabilities, $1.406 billion in asbestos-related liabilities, and ongoing litigation and an SEC investigation - Total recorded liabilities for environmental matters were $**755 million** as of June 30, 2025[122](index=122&type=chunk)[124](index=124&type=chunk) - Asbestos-related liabilities for Bendix claims stood at $**1.406 billion**, with related insurance recoveries recorded at $**105 million**[128](index=128&type=chunk)[131](index=131&type=chunk) - The company is in a legal dispute with Flexjet, LLC regarding an aircraft engine maintenance service agreement, with a trial anticipated in 2026[139](index=139&type=chunk)[140](index=140&type=chunk) - Honeywell is cooperating with a formal SEC investigation focused on certain financial reporting matters, including its former Performance Materials and Technologies segment[136](index=136&type=chunk) [Note 18 – Segment Financial Data](index=32&type=section&id=Note%2018%20%E2%80%93%20Segment%20Financial%20Data) Total segment profit reached $4.62 billion for the six-month period ended June 30, 2025, with Aerospace Technologies being the largest contributor to both sales and profit Segment Performance (Six Months Ended June 30, 2025) | Segment | Net Sales | Segment Profit | | :--- | :--- | :--- | | Aerospace Technologies | $8,479M | $2,197M | | Industrial Automation | $4,758M | $880M | | Building Automation | $3,518M | $919M | | Energy and Sustainability Solutions | $3,398M | $789M | | **Total Segment** | **$20,153M** | **$4,785M** | - A reconciliation from total segment profit of $**4.62 billion** to consolidated income before taxes of $**3.76 billion** is provided, with major reconciling items including interest charges, amortization of intangibles, and pension income[158](index=158&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=ITEM%202%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Honeywell's sales increased 8% in Q2 and YTD 2025, driven by acquisitions and pricing, while the company actively manages its portfolio through strategic acquisitions, divestitures, and planned business separations, maintaining strong liquidity - The company is undergoing a significant portfolio transformation, including the completed divestiture of its PPE business, the acquisition of Sundyne, and announced plans to separate its Advanced Materials, Automation, and Aerospace Technologies businesses into independent public companies[166](index=166&type=chunk)[167](index=167&type=chunk)[168](index=168&type=chunk) - Backlog of orders increased **14%** year-over-year to $**36.6 billion** as of June 30, 2025, indicating strong future demand[190](index=190&type=chunk) Net Sales Change Drivers (YTD 2025 vs. 2024) | Driver | % Change in Net Sales | | :--- | :--- | | Volume | 2% | | Price | 2% | | Foreign currency translation | 0% | | Acquisitions, divestitures, and other, net | 4% | | **Total % change** | **8%** | [Review of Business Segments](index=46&type=section&id=Review%20of%20Business%20Segments) In Q2 2025, Aerospace Technologies, Building Automation, and Energy and Sustainability Solutions segments reported strong sales growth, while Industrial Automation sales declined due to a divestiture - **Aerospace Technologies:** Q2 sales up **11%** (**6%** organic), driven by Defense and Space and Commercial Aviation Aftermarket. Acquisitions of CAES and Civitanavi contributed **5%** to sales growth[226](index=226&type=chunk)[227](index=227&type=chunk) - **Industrial Automation:** Q2 sales down **5%**, primarily due to the divestiture of the PPE business. Organic sales were flat[233](index=233&type=chunk)[235](index=235&type=chunk) - **Building Automation:** Q2 sales up **16%** (**8%** organic), boosted by strong product demand and an **8%** contribution from the Access Solutions acquisition. Segment profit grew **21%** with margin expansion[241](index=241&type=chunk)[242](index=242&type=chunk)[243](index=243&type=chunk) - **Energy and Sustainability Solutions:** Q2 sales up **15%** (**6%** organic), led by higher licensing volumes in UOP. Acquisitions of LNG and Sundyne contributed **7%** to sales growth[248](index=248&type=chunk)[250](index=250&type=chunk)[251](index=251&type=chunk) [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) Honeywell maintained strong liquidity with $10.7 billion in cash, funding significant share repurchases and acquisitions in H1 2025, supported by increased borrowings - Held $**10.7 billion** of cash, cash equivalents, and short-term investments as of June 30, 2025[258](index=258&type=chunk) - Key cash uses in the first six months of 2025 were common stock repurchases ($**3.6 billion**), dividends ($**1.5 billion**), and acquisitions ($**2.2 billion**)[262](index=262&type=chunk)[263](index=263&type=chunk)[270](index=270&type=chunk) - Total borrowings increased from $**31.1 billion** at year-end 2024 to $**36.5 billion** at June 30, 2025, partly due to drawing $**4.0 billion** from a new term loan facility[274](index=274&type=chunk)[279](index=279&type=chunk) [Quantitative and Qualitative Disclosures about Market Risks](index=54&type=section&id=ITEM%203%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risks) No material changes to the company's quantitative and qualitative disclosures about market risks were reported as of June 30, 2025, compared to the 2024 Annual Report on Form 10-K - As of June 30, 2025, there has been no material change in the company's market risk information from the 2024 Annual Report on Form 10-K[284](index=284&type=chunk) [Controls and Procedures](index=55&type=section&id=ITEM%204%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - Management concluded that disclosure controls and procedures were effective as of the end of the quarter[286](index=286&type=chunk) - No changes occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[286](index=286&type=chunk) PART II Other Information [Legal Proceedings](index=56&type=section&id=ITEM%201%20Legal%20Proceedings) The company is subject to various lawsuits, investigations, and claims, with details provided in Note 15 of the financial statements - The company is subject to a number of lawsuits, investigations, and claims. For details, refer to Note 15 Commitments and Contingencies[288](index=288&type=chunk) [Risk Factors](index=56&type=section&id=ITEM%201A%20Risk%20Factors) No material changes to the company's risk factors were noted from those presented in its 2024 Annual Report on Form 10-K and Q1 2025 Form 10-Q - No material changes to the Risk Factors presented in the 2024 Annual Report on Form 10-K were noted[290](index=290&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=56&type=section&id=ITEM%202%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Honeywell repurchased 8.2 million shares for $1.72 billion in Q2 2025, with $1.9 billion remaining available under the current share repurchase authorization Share Repurchases (Q2 2025) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | March 30 - April 26, 2025 | 5,047,330 | $199.49 | | April 27 - May 24, 2025 | 1,798,837 | $212.34 | | May 25 - June 28, 2025 | 1,368,449 | $225.78 | | **Total Q2 2025** | **8,214,616** | **N/A** | - As of June 30, 2025, $**1.9 billion** remained available under the company's share repurchase authorization[293](index=293&type=chunk) [Mine Safety Disclosures](index=57&type=section&id=ITEM%204%20Mine%20Safety%20Disclosures) Information concerning mine safety for a subsidiary's surface mine in Arizona is included in Exhibit 95, as required by the Dodd-Frank Act - Information concerning mine safety for a subsidiary's surface mine in Arizona is included in Exhibit 95[295](index=295&type=chunk) [Other Information](index=57&type=section&id=ITEM%205%20Other%20Information) No executive officers or directors adopted, terminated, or modified any Rule 10b5-1 or non-Rule 10b5-1 equity trading arrangements during Q2 2025 - No executive officers or directors adopted, terminated, or modified a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the quarter[297](index=297&type=chunk) [Exhibits](index=58&type=section&id=ITEM%206%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate documents, credit agreements, and officer certifications - Lists filed exhibits, including a Delayed Draw Term Loan Agreement, a Cooperation Agreement with Elliott Investment Management, and officer certifications[299](index=299&type=chunk) ```

Financial Data and Key Metrics Changes - Honeywell's second quarter sales grew 5% organically, with earnings per share at $2.45, up 4% year-over-year, and adjusted earnings per share at $2.75, up 10% year-over-year [19][24][35] - Orders reached $10.5 billion, a 6% increase year-over-year, with a backlog growing 10% organically to a record $36.6 billion [19][24] - Free cash flow for the second quarter was $1 billion, down approximately $100 million from the previous year due to tariff-related cost inflation [19][20] Business Line Data and Key Metrics Changes - Aerospace Technologies saw a 6% organic growth, with segment margin contracting 170 basis points to 25.5% due to cost inflation and the impact of an acquisition [21] - Industrial Automation's sales were flat on an organic basis, with segment margin expanding 20 basis points to 19.2% driven by productivity actions [21] - Building Automation delivered an 8% organic sales increase, with segment margin expanding 90 basis points year-over-year [22] - Energy and Sustainability Solutions sales grew 6% organically, but segment margin contracted 110 basis points to 24.1% due to cost inflation [22] Market Data and Key Metrics Changes - The U.S. remains the leading growth market, with normalized growth across Europe and China [61] - Aerospace orders are strong across defense and space, with commercial aftermarket growth expected to stabilize [41][61] Company Strategy and Development Direction - Honeywell is pursuing strategic alternatives for its Productivity Solutions and Services and Warehouse and Workflow Solutions businesses to clarify future strategies [8][14] - The company is on track to separate into three independent companies, aiming to maximize long-term value for stakeholders [9][10] - Increased R&D spending across all segments is aimed at accelerating organic growth and improving fundamentals [95][96] Management's Comments on Operating Environment and Future Outlook - Management raised sales and earnings guidance for the full year, citing strong first-half performance despite potential tariff impacts [6][23] - The company remains cautious about macroeconomic uncertainties affecting business demand, particularly in energy projects [24][36] - Management expressed confidence in the resilience of business demand across most sectors and regions [35][36] Other Important Information - Honeywell completed the acquisition of Sanddine for $2.2 billion and returned over $2.4 billion to shareholders through share repurchases and dividends [20] - The company plans to host an Investor Day for Solstice Advanced Materials prior to its spin-off [10] Q&A Session Summary Question: Insights on Aerospace and Commercial OE Sales - Aerospace orders remain strong, with expectations for normalization in commercial OE sales in the second half due to destocking issues [41][42] Question: UOP Growth and Future Outlook - Strong growth in Q2 was driven by a licensing agreement and catalyst sales, but energy project spending is expected to slow [55][56] Question: Industrial Automation Margin Outlook - Margin pressures are primarily due to energy project delays, but services remain strong [58][61] Question: R&D Spending Increase - Increased R&D spending is aimed at preparing Honeywell for future organic growth, not linked to the upcoming spin-offs [95][96] Question: Building Automation Growth Drivers - Growth is driven by focusing on high-growth verticals, mining the installed base, and new product introductions [115][116]

Financial Data and Key Metrics Changes - Honeywell's second quarter sales grew 5% organically, with earnings per share at $2.45, up 4% year over year, and adjusted earnings per share at $2.75, up 10% year over year [17][24] - Orders reached $10.5 billion, a 6% increase year over year, with a backlog growing 10% organically to a record $36.6 billion [17][18] - Free cash flow for the second quarter was $1 billion, down approximately $100 million from the previous year due to tariff-related cost inflation [17][18] Business Line Data and Key Metrics Changes - Aerospace Technologies grew 6% organically, with segment margin contracting 170 basis points to 25.5% due to higher cost inflation [19] - Industrial Automation sales were flat on an organic basis, with segment margin expanding 20 basis points to 19.2% [19] - Building Automation saw an 8% organic sales increase, with segment margin expanding 90 basis points year over year [20] - Energy and Sustainability Solutions sales grew 6% organically, but segment margin contracted 110 basis points to 24.1% due to cost inflation [20] Market Data and Key Metrics Changes - The U.S. remains the leading growth market, with normalized growth across Europe and China [58] - Defense and Space orders are strong, with double-digit growth driven by geopolitical circumstances and supply chain healing [114] Company Strategy and Development Direction - Honeywell is pursuing strategic alternatives for its Productivity Solutions and Services and Warehouse and Workflow Solutions businesses to clarify the standalone automation company's strategy [6][13] - The company is on track to separate into three independent companies, expected to maximize long-term value for stakeholders [7][8] - Honeywell is increasing its R&D spending across all segments to drive organic growth and innovation [90] Management's Comments on Operating Environment and Future Outlook - Management raised sales and earnings guidance for the full year, citing strong first-half performance despite potential impacts from tariffs [5][21] - The company remains cautious about business demand due to recent tariff announcements but is committed to offsetting these effects through productivity and pricing initiatives [21][22] - Management expressed confidence in the resilience of business demand across most sectors and regions [34] Other Important Information - Honeywell completed a bolt-on acquisition of Johnson's Methys Catalyst Technology business for GBP 1.8 billion, expected to close in 2026 [12] - The company is also evaluating strategic alternatives for its PSS and warehouse automation businesses [13] Q&A Session Summary Question: Insights on Aerospace and Supply Chain Issues - Aerospace orders remain strong, with expectations for improved commercial OE sales in the second half due to destocking issues being transitory [40][42] Question: UOP Growth and Future Outlook - Strong growth in Q2 was driven by a significant licensing agreement and catalyst sales, but energy project spending is expected to be delayed [52][54] Question: Industrial Automation and Margin Outlook - Demand and pricing pressures are primarily related to energy projects, impacting margins [56] Question: Defense and Space Growth - Growth is driven by strong demand and supply chain recovery, with double-digit growth expected in both domestic and international markets [114] Question: R&D Spending and Future Growth - Increased R&D spending is aimed at preparing Honeywell for future organic growth, with a focus on high-growth verticals [90][91]

Financial Performance - Adjusted EPS reached $2.75, exceeding the high end of the guidance range[12] - Organic sales grew by 5%, surpassing the guidance range, with Building Automation leading at 8% growth[12] - Free cash flow was $1.0 billion[12] - The company returned over $2.4 billion to shareholders, including $1.7 billion in share repurchases[12] - Backlog reached a record $36.6 billion, up 10% year-over-year excluding acquisitions[12] Portfolio Transformation and Separations - The company is continuing its portfolio transformation to position three future independent companies for success[4] - The spin-off of Solstice Advanced Materials is expected to be completed in the fourth quarter[9] - The company completed the PPE sale for $1.3 billion[12] - Sundyne acquisition closed for $2.2 billion and Catalyst Technologies acquisition announced for £1.8 billion[12] Guidance - The company is raising its 2025 organic growth and earnings guidance[4] - Full year sales are projected to be $40.8 billion - $41.3 billion, with organic growth of 4% - 5%[17] - Adjusted EPS for the full year is expected to be $10.45 - $10.65[17]

Core Insights - Honeywell International Inc. reported quarterly earnings of $2.75 per share, exceeding the Zacks Consensus Estimate of $2.64 per share, and showing an increase from $2.49 per share a year ago, resulting in an earnings surprise of +4.17% [1] - The company achieved revenues of $10.35 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 3.33%, compared to $9.58 billion in the same quarter last year [2] - Honeywell's stock has increased approximately 5.9% since the beginning of the year, while the S&P 500 has gained 8.1% [3] Earnings Outlook - The future performance of Honeywell's stock will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] - The current consensus EPS estimate for the upcoming quarter is $2.50 on revenues of $9.93 billion, and for the current fiscal year, it is $10.40 on revenues of $40.21 billion [7] Industry Context - The Diversified Operations industry, to which Honeywell belongs, is currently ranked in the top 35% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

霍尼韦尔预计第三季度销售额将在100亿美元至103亿美元之间，市场预估为100.5亿美元；预计第三季 度调整后 每股收益将达到2.50美元至2.60美元，市场预估为2.54美元。 ...

Exhibit 99 Contacts: Media Investor Relations Stacey Jones Sean Meakim (980) 378-6258 (704) 627-6200 stacey.jones@honeywell.com sean.meakim@honeywell.com HONEYWELL REPORTS SECOND QUARTER RESULTS; UPDATES 2025 GUIDANCE CHARLOTTE, N.C., July 24, 2025 -- Honeywell (NASDAQ: HON) today announced results for the second quarter that met or exceeded the company's guidance. The company also raised its full-year organic growth and adjusted earnings per share guidance ranges and reiterated its free cash flow guidance ...

Core Insights - Honeywell reported strong second-quarter results, with sales growth of 8% year-over-year and organic sales growth of 5%, exceeding guidance [2][3] - The company raised its full-year organic growth and adjusted earnings per share guidance, reflecting confidence in its performance and strategic initiatives [1][3] Financial Performance - Second-quarter sales reached $10.4 billion, with operating income increasing by 7% to $2.1 billion and segment profit rising 8% to $2.4 billion [2][9] - Earnings per share for the quarter was $2.45, a 4% increase year-over-year, while adjusted earnings per share rose 10% to $2.75 [2][9] - Operating cash flow was $1.3 billion, down 4% year-over-year, and free cash flow was $1.0 billion, down 9% year-over-year [2][9] Segment Performance - Aerospace Technologies sales increased 6% organically, driven by a 13% growth in defense and space [7] - Building Automation saw an 8% organic sales increase, with segment margin expanding 90 basis points to 26.2% [10] - Energy and Sustainability Solutions reported a 6% organic sales growth, with UOP growing 16% [11] Strategic Initiatives - Honeywell is pursuing a separation of its Automation and Aerospace businesses, aiming to create three publicly-listed industry leaders by the second half of 2026 [4][5] - The company has been actively optimizing its portfolio, including the acquisition of Johnson Matthey's Catalyst Technologies for £1.8 billion and the acquisition of Sundyne for $2.2 billion [5][9] - A comprehensive portfolio review has concluded, leading to a strategic evaluation of alternatives for its Productivity Solutions and Services and Warehouse and Workflow Solutions businesses [5][9] Updated Guidance - Full-year sales are now expected to be between $40.8 billion and $41.3 billion, with organic sales growth projected at 4% to 5% [3][13] - Adjusted earnings per share guidance has been raised to a range of $10.45 to $10.65, reflecting a 20-cent increase at the midpoint from prior guidance [3][13]

Group 1 - Honeywell is focusing on building a more resilient local supply chain in China, with over 95% of its exhibited products at the Chain Expo developed and manufactured by local teams [2] - The company recently held a supplier conference in China, which included a unique business matching platform and rapid meet-and-greet sessions for suppliers to connect with representatives from Honeywell's four major business groups [2] - Honeywell's R&D teams are strategically located in cities like Tianjin, Nanjing, Suzhou, and Xi'an, which enhances service to the local market and has resulted in over 4,500 effective patents and patent applications in China [2] Group 2 - A special channel management training program has been initiated by Honeywell, led by the company's president, with over 100 channel partners completing the training so far [3] - The training involves practical projects and covers lean management and Six Sigma methodologies, which are typically kept confidential [3] Group 3 - Honeywell emphasizes the importance of profitability across the supply chain, stating that without it, issues will arise, and aims to help partners achieve sustainable profitability [4]