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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 and AstraZeneca announced a partnership to develop next-generation respiratory inhalers utilizing near-zero global warming potential (GWP) propellants. This collaboration addresses the needs of 384 million COPD and 339 million asthma sufferers, aiming to reduce greenhouse gas emissions by up to 99.9% compared to traditional inhalers. Honeywell's Solstice Air, a non-flammable propellant, has shown promising results in clinical trials. AstraZeneca plans to transition its Breztri Aerosphere medicine to this innovative platform pending regulatory approval. Both companies aim for sustainable healthcare solutions.
Honeywell (NASDAQ: HON) and TotalEnergies have entered a strategic agreement to advance plastic recycling. This partnership will see Honeywell supply recycled polymer feedstock (RPF) produced via its UpCycle Process Technology at a new facility in Andalucía, Spain, projected to process 30,000 tons of plastic waste annually. TotalEnergies will then convert this RPF into virgin-quality polymers for various applications, including food-grade packaging. The plant is expected to start operations in 2023, marking the beginning of their collaboration to promote sustainability and address plastic waste.
ZoneFlow Reactor Technologies has been granted a U.S. patent for its innovative ZoneFlow Bayonet Reactor, which significantly reduces the cost of hydrogen production. The reactor efficiently utilizes excess heat from syngas to create more hydrogen, decreasing reliance on traditional furnace fuel by 15% - 20%. Bruce Boisture, President of ZoneFlow, highlights this patent as a major step towards commercializing cleaner hydrogen technology. A commercial version of the reactor is expected to be tested in 2022 through a collaboration with Honeywell UOP.
Honeywell (NASDAQ: HON) will hold its 2022 Annual Shareowners Meeting on April 25, 2022, at 10:30 a.m. EDT, conducted virtually. Shareowners recorded as of February 25, 2022, can vote. This meeting allows shareholders to engage directly in company matters and governance.
Honeywell, a Fortune 100 technology firm, specializes in industry-specific solutions, including aerospace products, building controls, and performance materials, all aimed at enhancing safety and sustainability.
Honeywell (NASDAQ: HON) has declared a quarterly dividend of $0.98 per share, payable on March 11, 2022, to shareholders of record by February 25, 2022. This announcement reflects the company's commitment to returning value to its shareholders. Honeywell continues to deliver innovative solutions across various sectors including aerospace and industrial technologies, enhancing its position in the market.
Honeywell (NASDAQ: HON) has been chosen to supply its advanced HTS7500 turboshaft engine for the Lockheed Martin Sikorsky-Boeing DEFIANT X® helicopter, a candidate for the U.S. Army's Future Long-Range Assault Aircraft (FLRAA) program. This state-of-the-art engine, surpassing the T55, offers a 42% power increase and reduced weight. The DEFIANT X® is designed for speed and maneuverability, set to replace the UH-60 Black Hawk by 2030. Honeywell's commitment to modernization is evident as the HTS7500 enhances mission readiness and operational efficiency.
Honeywell (NASDAQ: HON) will participate in two investor conferences in February 2022. Greg Lewis, CFO, will present at the Barclays Industrial Select Conference in Miami on February 23 from 9:10 a.m. to 9:40 a.m. EST. A webcast will be available at honeywell.com/investor. Additionally, Anne Madden and Ben Owens will join a panel at the RBC Global ESG Conference on February 24 from 9:00 a.m. to 9:30 a.m. EST. Webcast access will also be provided via the same link, with a replay available for 14 days.
Honeywell has launched a new solution to produce renewable naphtha using its UOP Ecofining™ technology. This pathway allows for high-yield production of naphtha from sustainable feedstocks like used cooking oil, offering a 50%-80% lower greenhouse gas footprint compared to traditional petroleum feeds. The Ecofining technology, jointly developed with Eni SpA, also facilitates the creation of renewable fuels such as Honeywell Green Diesel. This advancement aims to meet increasing consumer demand for bio-based products and supports petrochemical producers in reducing their environmental impact.
Honeywell (NASDAQ: HON) reported its fourth-quarter and full-year 2021 results, with a 3% decline in quarterly sales and 5% annual growth. Adjusted EPS for Q4 was $2.09, above expectations, and for the year, it reached $8.06, exceeding the guidance range. Demand remained strong with a backlog of $28 billion. The company projects 2022 sales between $35.4 billion and $36.4 billion. Despite supply chain challenges and declining COVID-related mask sales, Honeywell's focus on operational excellence, acquisitions, and capital deployment strategies position it for growth.
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