Welcome to our dedicated page for Honeywell International news (Ticker: HON), a resource for investors and traders seeking the latest updates and insights on Honeywell International stock.
Honeywell International Inc. (NASDAQ: HON) is a leading American multinational conglomerate headquartered in Charlotte, North Carolina. The company operates across four main sectors: Aerospace, Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. Established in 1885, Honeywell has evolved into a global giant known for its innovative and diverse range of products and services.
Aerospace: Honeywell's aerospace segment provides advanced avionics, aircraft engines, and related systems. A recent highlight includes the acquisition of Civitanavi Systems S.p.A., enhancing Honeywell's capabilities in autonomous operations for aircraft and other vehicles.
Building Technologies: This division focuses on integrated automation solutions for buildings, including fire, security, and energy-efficient systems. The recent purchase of Carrier Global Corporation's security business, Global Access Solutions, further strengthens its portfolio in this sector.
Performance Materials and Technologies: This segment offers high-performance materials, process technologies, and automation solutions. Honeywell's innovative hydrocracking technology is now being used to produce sustainable aviation fuel (SAF), significantly reducing carbon emissions.
Safety and Productivity Solutions: Honeywell provides productivity-enhancing software, including its newly updated Guided Work Solutions, which now integrates AI and machine learning to improve retail operations. The company’s Battery Manufacturing Excellence Platform (Battery MXP) is another AI-powered solution aimed at optimizing gigafactory operations.
Honeywell's financial performance remains robust, with steady sales growth and a strong balance sheet. Recent quarterly results show a year-over-year sales increase of 3%, driven by growth in its Aerospace and Energy and Sustainability Solutions segments. The company is actively embracing three major trends: automation, the future of aviation, and energy transition, supported by its Honeywell Accelerator operating system and Honeywell Connected Enterprise software platform.
Honeywell reported fourth-quarter sales of $9.2 billion, a 6% increase year-over-year, with organic sales up 10%. Fourth-quarter earnings per share were $1.51, down 26% YoY, but adjusted EPS rose 21% to $2.52. Full-year operating cash flow reached $5.3 billion, with free cash flow at $4.9 billion. Honeywell deployed $7.9 billion in capital, exceeding its $4.0 billion share repurchase commitment. The company anticipates 2023 adjusted EPS between $8.80 and $9.20, reflecting 0%-5% growth despite pension headwinds. It ended 2022 with a strong backlog of $29.6 billion.
Honeywell (NASDAQ: HON) has begun using sustainable aviation fuel (SAF) at its Phoenix Engines campus, marking a significant milestone in its sustainability efforts. The SAF, developed by World Energy LLC using Honeywell's UOP Ecofining™ technology, supports the testing of auxiliary power units (APUs) and propulsion engines. It can be blended with conventional jet fuel in ratios of up to 50%, requiring no alterations to existing engines or fuel systems. Honeywell aims for carbon neutrality by 2035 and invests 60% of its R&D in projects that promote environmental benefits.
Janus International Group (NYSE: JBI) announced the appointment of Alessandro Araldi as President of Nokē and Corporate Strategy. With over 20 years of global experience, Araldi has a strong background in building technologies, previously holding leadership roles at Honeywell (NASDAQ: HON) and Texas Instruments (NASDAQ: TXN).
Araldi will oversee strategic growth for Nokē™ Smart Entry, aimed at enhancing security and automation for self-storage facilities. CEO Ramey Jackson highlighted Araldi’s innovative expertise as pivotal for future growth and expansion within the self-storage industry.
Honeywell (NASDAQ: HON) will host its 2023 investor conference at the Nasdaq MarketSite in New York City on May 11, 2023. Presentations and Q&A panels featuring the Honeywell leadership team will be included. Investors can access a real-time audio webcast of the presentation and related materials at http://www.honeywell.com/investor, with a replay available for 30 days post-event.
Honeywell (NASDAQ: HON) anticipates significant shifts in building operations driven by sustainability and cybersecurity trends. Key predictions for 2023 include the 'Electrify Everything' movement, pushing for the transition from fossil-fuels to electric systems amid regulatory pressures. The integration of advanced cybersecurity into digital building technologies is critical due to rising cyber threats. Additionally, building management will increasingly utilize AI to enhance energy efficiency and adaptability for hybrid workforces. Emphasis on energy resilience in cities will grow, bolstered by $1.2 trillion in federal funding.
Honeywell (NASDAQ: HON) will announce its fourth quarter financial results and provide a 2023 outlook on February 2, 2023, before the Nasdaq opens. The company will follow up with a conference call at 8:30 a.m. EST to discuss these results. Investors can access a real-time audio webcast of the presentation at Honeywell's Investor Relations website. Further details, including presentation materials, will be made available ahead of the presentation.
Honeywell (NASDAQ: HON) has resolved anti-corruption investigations with the U.S. DOJ, SEC, and Brazilian authorities, involving its historical operations related to Petrobras and Unaoil. The company will pay $202.7 million in penalties and has entered into a three-year Deferred Prosecution Agreement concerning Foreign Corrupt Practices Act violations. Although faced with past issues, Honeywell has been recognized for enhancing its ethics and compliance programs, receiving credit for its cooperation. The company is committed to ongoing improvements in compliance and transparency.
Verra Mobility Corporation (NASDAQ: VRRM) has appointed Jon Keyser as Executive Vice President and Chief Legal Officer, effective December 19, 2022. Keyser joins from Honeywell (NASDAQ: HON), where he was Vice President and General Counsel in a $10 billion revenue division. His experience includes managing legal operations and corporate governance, crucial for Verra Mobility's growth. CEO David Roberts expressed confidence that Keyser's skills align with the company’s mission of enhancing transportation safety and efficiency.
Honeywell (NASDAQ: HON) received court approval for its buyout agreement with the North American Refractories Asbestos Personal Injury Settlement Trust, freeing it from future funding obligations. The one-time payment of $1.325 billion was approved by the U.S. Bankruptcy Court on December 8, 2022. This move allows Honeywell to reduce its NARCO reserve from $695 million and offset liabilities with proceeds expected from HarbisonWalker International Holdings' sale to Platinum Equity, estimated at $300 million. Honeywell continues to retain rights to collect insurance proceeds related to asbestos claims.
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