Honeywell Intl Inc - HON STOCK NEWS

Honeywell (Nasdaq: HON) is set to acquire Air Products' (NYSE: APD) LNG process technology and equipment business for $1.81 billion in cash. This acquisition aims to bolster Honeywell's energy transition offerings by integrating Air Products' coil-wound heat exchangers (CWHE) and related technologies.

The acquisition is expected to be immediately accretive to Honeywell's sales growth, segment margin, and adjusted EPS in the first year of ownership. Over 475 employees from Air Products' LNG business will join Honeywell, enhancing its capabilities in natural gas pre-treatment and liquefaction.

Air Products will continue to focus on its core industrial gas business and clean hydrogen technology. The deal is anticipated to close by the end of the calendar year, pending regulatory approvals.

Honeywell (NASDAQ: HON) will release its second quarter financial results before the Nasdaq opens on July 25, 2024. The company will also hold a conference call at 8:30 a.m. EDT the same day. The webcast and related materials will be available at Honeywell's Investor Relations website, which also offers a replay for 30 days post-presentation. Honeywell, a global integrated company, operates across diverse industries and focuses on automation, aviation, and energy transition. Investors should monitor Honeywell's Investor Relations website for updates.

Honeywell (NASDAQ: HON) has launched Connected Power, a solution designed to monitor and manage power usage at the plug level in commercial buildings. This system helps reduce energy waste by allowing building managers to control power outlets based on occupancy data and schedules. With more than 80% of employees leaving devices plugged in when not in use, this solution could significantly lower energy consumption and CO2 emissions. It integrates with existing wiring and building management systems, offering centralized control over up to 2,500 outlets. Early results from Accu-Temp, a contractor in Ontario, indicate immediate energy savings. Optional cloud-based integration with Honeywell Forge Suite enables remote monitoring and management, enhancing overall efficiency and safety.

Honeywell (Nasdaq: HON) announced its plan to acquire CAES Systems Holdings from Advent International for $1.9 billion in cash.

The acquisition will bolster Honeywell's defense technologies across multiple domains, including land, sea, air, and space.

CAES' high-reliability radio frequency (RF) technologies are expected to drive long-term growth and diversify revenue streams for Honeywell.

The deal values CAES at approximately 14x its estimated 2024 EBITDA, adjusted for tax.

This acquisition will add about 2,200 employees and advanced engineering talent to Honeywell.

Combined capabilities will enhance Honeywell's position in defense technologies such as electromagnetic defense, radar, and sensing.

The deal is anticipated to close in the second half of 2024, subject to customary closing conditions and regulatory approvals.

Honeywell has launched the Battery Manufacturing Excellence Platform (Battery MXP), an AI-powered solution aimed at optimizing gigafactory operations. The software aims to cut material waste by 60%, reduce production ramp-up times, and improve battery cell yields, addressing key challenges in lithium battery manufacturing. Battery MXP leverages AI and machine learning to detect quality issues early, thus enhancing efficiency and productivity. The platform also offers bidirectional traceability, process controls, and safety features. Honeywell's initiative supports the global energy transition and aims to meet the growing demand for lithium-ion batteries.

Honeywell (NASDAQ: HON) announced the integration of artificial intelligence (AI) and machine learning into its Guided Work Solutions to enhance operational efficiency and customer experiences in retail. The updated solution utilizes AI-driven speech technology to assist retail associates in tasks like order fulfillment, restocking, and returns. It supports Honeywell's focus on automation, aviation's future, and energy transition. The system, which understands speech in over 48 languages, aims to boost productivity, reduce errors, and improve in-store sales. Since 2018, it has increased productivity by over 30% and achieved 99% accuracy in product picking.

Carrier Global (NYSE: CARR) announced the completion of the sale of its security business, Global Access Solutions, to Honeywell for $4.95 billion. This transaction is part of Carrier's strategic transformation into a focused global leader in intelligent climate and energy solutions. The net proceeds of $4 billion will be utilized to pay down debt, targeting a net leverage of approximately 2x EBITDA by the end of 2024. Additionally, Carrier plans to resume share repurchases in 2024. This sale follows the acquisition of Viessmann Climate Solutions, which is expected to significantly impact Carrier's growth and the industry. Carrier is also selling its global Commercial Refrigeration and Industrial Fire businesses and has started the process to sell its Commercial and Residential Fire businesses. This restructuring aims to position Carrier as a more focused, higher-growth company ready to tackle climate challenges.

Honeywell has finalized its $4.95 billion acquisition of Carrier's Global Access Solutions business, enhancing its position in the security solutions sector. This acquisition aligns Honeywell with automation and digitalization megatrends, adding brands like LenelS2, Onity, and Supra to its portfolio.

The deal brings 1,200 employees to Honeywell and is expected to be accretive to adjusted earnings per share in the first year. Honeywell forecasts annual sales over $1 billion from this acquisition, boosting its Building Automation segment.

The company updated its 2024 outlook, projecting full-year sales of $38.5 billion to $39.3 billion, with organic growth of 4% to 6%. Segment margin is expected to be 23.8% to 24.1%, and adjusted earnings per share between $10.15 and $10.45. Operating cash flow is projected at $6.7 billion to $7.1 billion, with free cash flow between $5.6 billion and $6 billion.

Honeywell (Nasdaq: HON) announced a partnership with Enel North America to enhance building automation and demand response solutions for commercial and industrial organizations. This collaboration aims to stabilize power grids by automating energy load management to prevent blackouts during peak usage. The partnership leverages Enel's energy portfolio and Honeywell's automation systems, offering benefits such as increased operational efficiency, cost savings, and grid reliability. The initiative aligns with Honeywell's focus on automation, aviation's future, and energy transition, enabling businesses to maximize energy flexibility and revenue potential without out-of-pocket costs.