HONEYWELL REPORTS FIRST QUARTER RESULTS; UPDATES 2025 GUIDANCE

PR Newswire

04-29

Sales of $9.8 Billion, Reported Sales Up 8%, Organic1 Sales Up 4%, Exceeding High End of Previous Guidance Earnings Per Share of $2.22 and Adjusted Earnings Per Share1 of $2.51, Exceeding High End of ...

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UPDATES 2025 GUIDANCE","media":"PR Newswire","content":"<div>\n<p>Sales of $9.8 Billion, Reported Sales Up 8%, Organic1 Sales Up 4%, Exceeding High End of Previous Guidance\nEarnings Per Share of $2.22 and Adjusted Earnings Per Share1 of $2.51, Exceeding High End of ...</p>\n\n<a href=\"https://finance.yahoo.com/news/honeywell-reports-first-quarter-results-100000258.html\">网页链接</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HONEYWELL REPORTS FIRST QUARTER RESULTS; UPDATES 2025 GUIDANCE</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHONEYWELL REPORTS FIRST QUARTER RESULTS; UPDATES 2025 GUIDANCE\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-04-29 18:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/honeywell-reports-first-quarter-results-100000258.html><strong>PR Newswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sales of $9.8 Billion, Reported Sales Up 8%, Organic1 Sales Up 4%, Exceeding High End of Previous Guidance\nEarnings Per Share of $2.22 and Adjusted Earnings Per Share1 of $2.51, Exceeding High End of ...</p>\n\n<a href=\"https://finance.yahoo.com/news/honeywell-reports-first-quarter-results-100000258.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4206","symbol_name":"工业集团企业","start_time":0,"source_url":"https://finance.yahoo.com/news/honeywell-reports-first-quarter-results-100000258.html","article_id":"2531520296","we_media_id":null,"thumbnails":[],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/honeywell-reports-first-quarter-results-100000258.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2531520296","pubTimestamp":1745920800,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Sales of $9.8 Billion, Reported Sales Up 8%, Organic1 Sales Up 4%, Exceeding High End of Previous Guidance. Earnings Per Share of $2.22 and Adjusted Earnings Per Share1 of $2.51, Exceeding High End of Previous Guidance by 26 Cents. Backlog Up 8% Excluding Acquisitions, Led by Strength in Building Automation and Energy and Sustainability Solutions Businesses. Deployed $2.9 Billion of Capital to Share Repurchases, Dividends, and Capital Expenditures; Announced the $2.2 Billion Acquisition of Sundyne. Company Maintains Full-Year Organic Growth Guidance and Raises Adjusted Earnings Per Share Guidance, Including Net Expected Impact of Tariffs, Mitigation Actions, and Global Demand Uncertainty. Separations Proceeding as Planned; Committed to Delivering for All Stakeholders. Kapur added, \"As we look ahead to our planned spin of Advanced Materials and separation of our Automation and Aerospace businesses, we are even more confident about the significant opportunities for value creation and sus","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4206":"工业集团企业","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","HON":"霍尼韦尔","BK4201":"综合性石油与天然气企业","BK4588":"碎股","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","BK4602":"量子计算概念","BK4550":"红杉资本持仓","E":"埃尼石油"},"translate_title":"霍尼韦尔公布第一季度业绩；更新2025年指南","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"E":1,"HON":1},"content_text":"Sales of $9.8 Billion, Reported Sales Up 8%, Organic1 Sales Up 4%, Exceeding High End of Previous Guidance\nEarnings Per Share of $2.22 and Adjusted Earnings Per Share1 of $2.51, Exceeding High End of Previous Guidance by 26 Cents\nBacklog Up 8% Excluding Acquisitions, Led by Strength in Building Automation and Energy and Sustainability Solutions Businesses\nDeployed $2.9 Billion of Capital to Share Repurchases, Dividends, and Capital Expenditures; Announced the $2.2 Billion Acquisition of Sundyne\nCompany Maintains Full-Year Organic Growth Guidance and Raises Adjusted Earnings Per Share Guidance, Including Net Expected Impact of Tariffs, Mitigation Actions, and Global Demand Uncertainty\nSeparations Proceeding as Planned; Committed to Delivering for All Stakeholders\n\nCHARLOTTE, N.C., April 29, 2025 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced results for the first quarter that exceeded the company's guidance on all metrics. The company also maintained its full-year organic growth guidance, raised its adjusted earnings per share guidance range, and reiterated its free cash flow guidance range.\n\n  \n\nThe company reported first-quarter year-over-year sales growth of 8% and organic1 sales growth of 4%, led by a second consecutive quarter of double-digit organic sales growth in both defense and space and building solutions. Operating margin contracted 30 basis points to 20.1% and segment margin1 was flat at 23.0%, exceeding previous guidance. Operating income increased 6% and segment profit1 increased 8% to $2.3 billion, driven by contribution from acquisitions and a continued focus on commercial excellence. Earnings per share for the first quarter was $2.22, flat year over year, and adjusted earnings per share1 was $2.51, up 7% year over year. Operating cash flow was $0.6 billion and free cash flow1 was $0.3 billion, up 61% year over year.\n\"Honeywell started the year off exceptionally well, exceeding guidance across all metrics, led by solid organic growth,\" said Vimal Kapur, chairman and chief executive officer of Honeywell. \"For the third straight quarter, we delivered both sequential and year-over-year backlog growth, driven by healthy order rates and continuing customer demand for our differentiated offerings. Despite the volatile macroeconomic backdrop, we maintained segment margin consistent with last year, which is a testament to the value delivered by our Accelerator operating system. Though we have not yet seen it in our results, we recognize we face an uncertain global demand environment for the remainder of 2025, and our company will work tirelessly, leveraging all tools available to us, to deliver for customers and shareholders.\"\nKapur added, \"As we look ahead to our planned spin of Advanced Materials and separation of our Automation and Aerospace businesses, we are even more confident about the significant opportunities for value creation and sustained growth as we transform into three industry-leading public companies.\"\nAs a result of the company's first-quarter performance and management's outlook for the remainder of the year, Honeywell updated its full-year sales, segment margin2, and adjusted earnings per share2,3 guidance. Full-year sales are now expected to be $39.6 billion to $40.5 billion with organic1 sales growth in the range of 2% to 5%. Segment margin2 is expected to be in the range of 23.2% to 23.5%, with segment margin2 expansion of 60 to 90 basis points year over year. Adjusted earnings per share2,3 is now expected to be in the range of $10.20 to $10.50, up 5 cents at the midpoint from the prior guidance range. Operating cash flow is still expected to be in the range of $6.7 billion to $7.1 billion. Free cash flow1 is still expected to be in the range of $5.4 billion to $5.8 billion. Excluding the impact of the Bombardier agreement signed in the fourth quarter of 2024, the company expects organic sales growth of 1% to 4%, segment margin down 10 to up 20 basis points year over year, and adjusted earnings per share down 1% to up 2% year over year. Guidance incorporates the net expected impact of current tariffs, mitigation actions, and global demand uncertainty. Guidance also assumes an early May close of the sale of the company's Personal Protective Equipment business but does not yet include the impact of the pending Sundyne acquisition. A summary of the company's full-year guidance changes can be found in Table 1.\nPortfolio TransformationIn February, Honeywell announced that its Board of Directors concluded its comprehensive portfolio review and decided to pursue a separation of its Automation and Aerospace businesses. The planned separation, coupled with the previously announced plan to spin Advanced Materials, will result in three publicly-listed industry leaders and is intended to be completed in the second half of 2026. To oversee the transformation processes, this quarter Honeywell formed dedicated separation management offices to ensure that its business leaders can remain focused on managing day-to-day operations over the coming months.\nDuring the quarter, Honeywell continued its judicious deployment of shareholder capital, highlighted by the announcement of its acquisition of Sundyne in March for $2.2 billion. Honeywell also repurchased $1.9 billion of its shares in the quarter, furthering its commitment to deploy at least $25 billion toward high-return capital expenditures, dividends, opportunistic share purchases, and accretive acquisitions through 2025.\nFirst-Quarter PerformanceHoneywell sales for the first quarter were up 8% year over year on a reported basis and 4% on an organic1 basis year over year. The first-quarter financial results can be found in Tables 2 and 3.\nAerospace Technologies sales for the first quarter increased 9% organically1 year over year, driven by continued strong performance in commercial aftermarket and defense and space. Commercial aftermarket sales grew 15%, led by increased demand in air transport and better output from supply chain improvements. Defense and space sales increased 10% on an organic basis, aided by ongoing geopolitical uncertainty. Backlog grew 9% as orders were up high-single digits in the quarter. Segment margin contracted 190 basis points to 26.3% on account of expected mix pressure and the impact of acquisitions, partially offset by productivity actions.\nIndustrial Automation sales declined 2% on an organic1 basis year over year in the first quarter. Warehouse and workflow solutions returned to growth in the quarter, increasing 5%. Process solutions was flat year over year, as high single-digit growth in lifecycle solutions was offset by modest declines in smart energy and thermal solutions. Productivity solutions and services declined 1% when excluding the impact of prior-year license and settlement payments, driven by demand headwinds in Europe. Sensing and safety technologies decreased 5% year over year, as weaker volumes in our personal protective equipment business more than offset continued recovery in sensing, which delivered a second consecutive quarter of sales growth and high-single-digit orders growth. Segment margin contracted 130 basis points to 17.8%, driven by receivables write-downs and volume deleverage, partially offset by productivity actions.\nBuilding Automation sales for the first quarter increased 8% on an organic1 basis year over year. Building solutions grew 11% organically for a second consecutive quarter, led by strength in the Middle East and North America. Building products grew 6% organically, highlighted by double-digit growth in fire products and the fourth consecutive quarter of organic growth in security offerings. Orders grew both year over year and sequentially, led by double-digit growth in projects. Segment margin expanded 150 basis points to 26.0%, driven by volume leverage and productivity actions, partially offset by mix.\nEnergy and Sustainability Solutions sales for the first quarter declined 2% on an organic1 basis. UOP grew 2% in the quarter led by strength in both refining and petrochemicals projects and sustainability projects. Advanced materials sales declined 4% as strength in specialty chemicals and materials was offset by challenging prior year comparisons in fluorine products. However, double-digit order growth in fluorine products led to a 7% increase in advanced materials orders year over year. Segment margin expanded 230 basis points to 22.2% as a result of commercial excellence, productivity actions, and the year-over-year benefit of the margin-accretive LNG acquisition.\nConference Call DetailsHoneywell will discuss its first-quarter results and full-year 2025 guidance during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today. A live webcast of the investor call as well as related presentation materials will be available through the Investor Relations section of the company's website (www.honeywell.com/investor). A replay of the webcast will be available for 30 days following the presentation.\n\n\n\n\nTABLE 1: FULL-YEAR 2025 GUIDANCE2 \n\n\n\n\nPrevious Guidance \n\nCurrent Guidance \n\n\nSales \n\n$39.6B - $40.6B \n\n$39.6B - $40.5B \n\n\nOrganic1 Growth \n\n2% - 5% \n\n2% - 5% \n\n\nSegment Margin \n\n23.2% - 23.6% \n\n23.2% - 23.5% \n\n\nExpansion \n\nUp 60 - 100 bps \n\nUp 60 - 90 bps \n\n\nAdjusted Earnings Per Share3 \n\n$10.10 - $10.50 \n\n$10.20 - $10.50 \n\n\nAdjusted Earnings Growth3 \n\n2% - 6% \n\n3% - 6% \n\n\nOperating Cash Flow \n\n$6.7B - $7.1B \n\n$6.7B - $7.1B \n\n\nFree Cash Flow1 \n\n$5.4B - $5.8B \n\n$5.4B - $5.8B \n\n\n\n\n\n\n\n\nTABLE 2: SUMMARY OF HONEYWELL FINANCIAL RESULTS (Dollars in millions, except per share amounts) \n\n\n\n\n1Q 2025 \n\n1Q 2024 \n\nChange \n\n\nSales \n\n$9,822 \n\n$9,105 \n\n8 % \n\n\nOrganic1 Growth \n\n\n\n\n\n4 % \n\n\nOperating Income \n\n$1,970 \n\n$1,860 \n\n6 % \n\n\nOperating Income Margin \n\n20.1 % \n\n20.4 % \n\n-30 bps \n\n\nSegment Profit1 \n\n$2,258 \n\n$2,094 \n\n8 % \n\n\nSegment Margin1 \n\n23.0 % \n\n23.0 % \n\n0 bps \n\n\nEarnings Per Share \n\n$2.22 \n\n$2.23 \n\n— % \n\n\nAdjusted Earnings Per Share1 \n\n$2.51 \n\n$2.34 \n\n7 % \n\n\nOperating Cash Flow \n\n$597 \n\n$448 \n\n33 % \n\n\nFree Cash Flow1 \n\n$346 \n\n$215 \n\n61 % \n\n\n\n\n\n\n\n\nTABLE 3: SUMMARY OF SEGMENT FINANCIAL RESULTS (Dollars in millions) \n\n\nAEROSPACE TECHNOLOGIES \n\n1Q 2025 \n\n1Q 2024 \n\nChange \n\n\nSales \n\n$4,172 \n\n$3,669 \n\n14 % \n\n\nOrganic1 Growth \n\n\n\n\n\n9 % \n\n\nSegment Profit \n\n$1,099 \n\n$1,035 \n\n6 % \n\n\nSegment Margin \n\n26.3 % \n\n28.2 % \n\n-190 bps \n\n\nINDUSTRIAL AUTOMATION \n\n\n\n\n\n\n\n\nSales \n\n$2,378 \n\n$2,478 \n\n(4 %) \n\n\nOrganic1 Growth \n\n\n\n\n\n(2 %) \n\n\nSegment Profit \n\n$424 \n\n$474 \n\n(11 %) \n\n\nSegment Margin \n\n17.8 % \n\n19.1 % \n\n-130 bps \n\n\nBUILDING AUTOMATION \n\n\n\n\n\n\n\n\nSales \n\n$1,692 \n\n$1,426 \n\n19 % \n\n\nOrganic1 Growth \n\n\n\n\n\n8 % \n\n\nSegment Profit \n\n$440 \n\n$350 \n\n26 % \n\n\nSegment Margin \n\n26.0 % \n\n24.5 % \n\n150 bps \n\n\nENERGY AND SUSTAINABILITY SOLUTIONS \n\n\n\n\n\n\n\n\nSales \n\n$1,561 \n\n$1,525 \n\n2 % \n\n\nOrganic1 Growth \n\n\n\n\n\n(2 %) \n\n\nSegment Profit \n\n$346 \n\n$303 \n\n14 % \n\n\nSegment Margin \n\n22.2 % \n\n19.9 % \n\n230 bps \n\n\n\n\n\n\n\n\n\n\n\n\n\n1 \n\nSee additional information at the end of this release regarding non-GAAP financial measures. \n\n\n2 \n\nSegment margin and adjusted EPS are non-GAAP financial measures. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment margin or adjusted EPS. We therefore, do not present a guidance range, or a reconciliation to, the nearest GAAP financial measures of operating margin or EPS. \n\n\n3 \n\nAdjusted EPS and adjusted EPS V% guidance excludes items identified in the non-GAAP reconciliation of adjusted EPS at the end of this release, and any potential future one-time items that we cannot reliably predict or estimate such as pension mark-to-market. \n\n\n\n\nDuring the third quarter of 2024, Honeywell concluded the assets and liabilities of the personal protective equipment business (part of the Sensing and Safety Technologies business unit within the Industrial Automation segment) met the held for sale criteria; therefore, Honeywell presented the associated assets and liabilities of the business as held for sale in the Consolidated Balance Sheet beginning September 30, 2024. In the first quarter of 2025, the Company recognized a $15 million increase in the valuation allowance to write down the disposal group to fair value, less costs to sell.\nAbout HoneywellHoneywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends - automation, the future of aviation, and energy transition - underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations that help make the world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. \nHoneywell uses our Investor Relations website, www.honeywell.com/investor, as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media.\nWe describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including statements related to the proposed spin-off of the Company's Advanced Materials business into Solstice Advanced Materials, a standalone, publicly traded company, the proposed separation of Automation and Aerospace Technologies, the sale of the personal protective equipment business, and the acquisition of Sundyne. Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control, including Honeywell's current expectations, estimates, and projections regarding, among other things, the proposed spin-off of the Company's Advanced Materials business into Solstice Advanced Materials, a standalone, publicly traded company, the proposed separation of Automation and Aerospace Technologies, the sale of the personal protective equipment business, and the acquisition of Sundyne. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements, including the consummation of the spin-off of the Advanced Materials business into Solstice Advanced Materials, the proposed separation of Automation and Aerospace Technologies, the sale of our personal protective equipment business, and the acquisition of Sundyne, and the anticipated benefits of each. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, which can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.\nThis release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows:\n\nSegment profit, on an overall Honeywell basis;\nSegment profit margin, on an overall Honeywell basis;\nOrganic sales growth;\nFree cash flow; and\nAdjusted earnings per share.\n\nManagement believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures.\n\n\n\n\nHoneywell International Inc. Consolidated Statement of Operations (Unaudited) (Dollars in millions, except per share amounts) \n\n\n\nThree Months Ended March 31, \n\n\n\n2025 \n\n2024 \n\n\nProduct sales \n$    6,645 \n\n$    6,263 \n\n\nService sales \n3,177 \n\n2,842 \n\n\nNet sales \n9,822 \n\n9,105 \n\n\nCosts, expenses and other \n\n\n\n\n\nCost of products sold1 \n4,251 \n\n4,035 \n\n\nCost of services sold1 \n1,786 \n\n1,548 \n\n\nTotal Cost of products and services sold \n6,037 \n\n5,583 \n\n\nResearch and development expenses \n439 \n\n360 \n\n\nSelling, general and administrative expenses1 \n1,361 \n\n1,302 \n\n\nImpairment of assets held for sale \n15 \n\n— \n\n\nOther (income) expense \n(200) \n\n(231) \n\n\nInterest and other financial charges \n286 \n\n220 \n\n\nTotal costs, expenses and other \n7,938 \n\n7,234 \n\n\nIncome before taxes \n1,884 \n\n1,871 \n\n\nTax expense \n417 \n\n396 \n\n\nNet income \n1,467 \n\n1,475 \n\n\nLess: Net income attributable to noncontrolling interest \n18 \n\n12 \n\n\nNet income attributable to Honeywell \n$    1,449 \n\n$    1,463 \n\n\nEarnings per share of common stock - basic \n$      2.24 \n\n$      2.24 \n\n\nEarnings per share of common stock - assuming dilution \n$      2.22 \n\n$      2.23 \n\n\nWeighted average number of shares outstanding - basic \n648.2 \n\n652.3 \n\n\nWeighted average number of shares outstanding - assuming dilution \n651.7 \n\n656.6 \n\n\n\n\n\n\n\n\n\n\n\n\n\n1 \n\nCost of products and services sold and Selling, general and administrative expenses include amounts for repositioning and other charges, the service cost component of pension and other postretirement (income) expense, and stock compensation expense. \n\n\n\n\n\n\n\n\nHoneywell International Inc. Segment Data (Unaudited) (Dollars in millions) \n\n\n\nThree Months Ended March 31, \n\n\nNet sales \n2025 \n\n2024 \n\n\nAerospace Technologies \n$           4,172 \n\n$           3,669 \n\n\nIndustrial Automation \n2,378 \n\n2,478 \n\n\nBuilding Automation \n1,692 \n\n1,426 \n\n\nEnergy and Sustainability Solutions \n1,561 \n\n1,525 \n\n\nCorporate and All Other \n19 \n\n7 \n\n\nTotal Net sales \n$           9,822 \n\n$           9,105 \n\n\n\n\n\nReconciliation of Segment Profit to Income Before Taxes \n\n\n\nThree Months Ended March 31, \n\n\nSegment profit \n2025 \n\n2024 \n\n\nAerospace Technologies \n$           1,099 \n\n$           1,035 \n\n\nIndustrial Automation \n424 \n\n474 \n\n\nBuilding Automation \n440 \n\n350 \n\n\nEnergy and Sustainability Solutions \n346 \n\n303 \n\n\nCorporate and All Other \n(51) \n\n(68) \n\n\nTotal Segment profit \n2,258 \n\n2,094 \n\n\nInterest and other financial charges \n(286) \n\n(220) \n\n\nInterest income1 \n90 \n\n105 \n\n\nAmortization of acquisition-related intangibles2 \n(136) \n\n(70) \n\n\nImpairment of assets held for sale \n(15) \n\n— \n\n\nStock compensation expense3 \n(61) \n\n(53) \n\n\nPension ongoing income4 \n155 \n\n145 \n\n\nPension mark-to-market expense \n(14) \n\n— \n\n\nOther postretirement income4 \n4 \n\n6 \n\n\nRepositioning and other charges5,6 \n(45) \n\n(93) \n\n\nOther expense7 \n(66) \n\n(43) \n\n\nIncome before taxes \n$           1,884 \n\n$           1,871 \n\n\n\n\n\n\n\n\n\n\n\n\n\n1 \n\nAmounts included in Selling, general and administrative expenses. \n\n\n2 \n\nAmounts included in Cost of products and services sold. \n\n\n3 \n\nAmounts included in Selling, general and administrative expenses. \n\n\n4 \n\nAmounts included in Cost of products and services sold (service cost component), Selling, general and administrative expenses (service cost component), Research and development expenses (service cost component), and Other (income) expense (non-service cost component). \n\n\n5 \n\nAmounts included in Cost of products and services sold, Selling, general and administrative expenses, and Other (income) expense. \n\n\n6 \n\nIncludes repositioning, asbestos, and environmental expenses. \n\n\n7 \n\nAmounts include the other components of Other (income) expense not included within other categories in this reconciliation. Equity income of affiliated companies is included in segment profit.  \n\n\n\n\n\n\n\n\nHoneywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) \n\n\n\nMarch 31, 2025 \n\nDecember 31, 2024 \n\n\nASSETS \n\n\n\n\n\nCurrent assets \n\n\n\n\n\nCash and cash equivalents \n$                      9,657 \n\n$                    10,567 \n\n\nShort-term investments \n402 \n\n386 \n\n\nAccounts receivable, less allowances of $353 and $314, respectively \n8,251 \n\n7,819 \n\n\nInventories \n6,611 \n\n6,442 \n\n\nAssets held for sale \n1,393 \n\n1,365 \n\n\nOther current assets \n1,331 \n\n1,329 \n\n\nTotal current assets \n27,645 \n\n27,908 \n\n\nInvestments and long-term receivables \n1,418 \n\n1,394 \n\n\nProperty, plant and equipment—net \n6,213 \n\n6,194 \n\n\nGoodwill \n22,021 \n\n21,825 \n\n\nOther intangible assets—net \n6,537 \n\n6,656 \n\n\nInsurance recoveries for asbestos-related liabilities \n167 \n\n171 \n\n\nDeferred income taxes \n229 \n\n238 \n\n\nOther assets \n10,988 \n\n10,810 \n\n\nTotal assets \n$                    75,218 \n\n$                    75,196 \n\n\nLIABILITIES \n\n\n\n\n\nCurrent liabilities \n\n\n\n\n\nAccounts payable \n$                      6,734 \n\n$                      6,880 \n\n\nCommercial paper and other short-term borrowings \n5,756 \n\n4,273 \n\n\nCurrent maturities of long-term debt \n1,332 \n\n1,347 \n\n\nAccrued liabilities \n7,849 \n\n8,348 \n\n\nLiabilities held for sale \n400 \n\n408 \n\n\nTotal current liabilities \n22,071 \n\n21,256 \n\n\nLong-term debt \n25,744 \n\n25,479 \n\n\nDeferred income taxes \n1,750 \n\n1,787 \n\n\nPostretirement benefit obligations other than pensions \n110 \n\n112 \n\n\nAsbestos-related liabilities \n1,283 \n\n1,325 \n\n\nOther liabilities \n6,229 \n\n6,076 \n\n\nRedeemable noncontrolling interest \n7 \n\n7 \n\n\nShareowners' equity \n18,024 \n\n19,154 \n\n\nTotal liabilities, redeemable noncontrolling interest and shareowners' equity \n$                    75,218 \n\n$                    75,196 \n\n\n\n\n\n\n\n\nHoneywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) \n\n\n\nThree Months Ended March 31, \n\n\n\n2025 \n\n2024 \n\n\nCash flows from operating activities \n\n\n\n\n\nNet income \n$    1,467 \n\n$    1,475 \n\n\nLess: Net income attributable to noncontrolling interest \n18 \n\n12 \n\n\nNet income attributable to Honeywell \n1,449 \n\n1,463 \n\n\nAdjustments to reconcile net income attributable to Honeywell to net cash provided by operating activities \n\n\n\n\n\nDepreciation \n174 \n\n166 \n\n\nAmortization \n200 \n\n125 \n\n\nGain on sale of non-strategic businesses and assets \n(16) \n\n— \n\n\nImpairment of assets held for sale \n15 \n\n— \n\n\nRepositioning and other charges \n45 \n\n93 \n\n\nNet payments for repositioning and other charges \n(104) \n\n(124) \n\n\nPension and other postretirement income \n(145) \n\n(151) \n\n\nPension and other postretirement benefit payments \n(5) \n\n(8) \n\n\nStock compensation expense \n61 \n\n53 \n\n\nDeferred income taxes \n(19) \n\n3 \n\n\nOther \n(196) \n\n(158) \n\n\nChanges in assets and liabilities, net of the effects of acquisitions and divestitures \n\n\n\n\n\nAccounts receivable \n(424) \n\n53 \n\n\nInventories \n(181) \n\n(140) \n\n\nOther current assets \n35 \n\n63 \n\n\nAccounts payable \n(149) \n\n(381) \n\n\nAccrued liabilities \n(123) \n\n(565) \n\n\nIncome taxes \n(20) \n\n(44) \n\n\nNet cash provided by operating activities \n597 \n\n448 \n\n\nCash flows from investing activities \n\n\n\n\n\nCapital expenditures \n(251) \n\n(233) \n\n\nProceeds from disposals of property, plant and equipment \n23 \n\n— \n\n\nIncrease in investments \n(351) \n\n(238) \n\n\nDecrease in investments \n338 \n\n155 \n\n\n(Payments) receipts from settlements of derivative contracts \n(125) \n\n43 \n\n\nCash paid for acquisitions, net of cash acquired \n(5) \n\n— \n\n\nNet cash used for investing activities \n(371) \n\n(273) \n\n\nCash flows from financing activities \n\n\n\n\n\nProceeds from issuance of commercial paper and other short-term borrowings \n4,855 \n\n2,223 \n\n\nPayments of commercial paper and other short-term borrowings \n(3,413) \n\n(2,470) \n\n\nProceeds from issuance of common stock \n42 \n\n144 \n\n\nProceeds from issuance of long-term debt \n46 \n\n5,710 \n\n\nPayments of long-term debt \n(44) \n\n(573) \n\n\nRepurchases of common stock \n(1,902) \n\n(671) \n\n\nCash dividends paid \n(732) \n\n(703) \n\n\nOther \n(32) \n\n36 \n\n\nNet cash (used for) provided by financing activities \n(1,180) \n\n3,696 \n\n\nEffect of foreign exchange rate changes on cash and cash equivalents \n44 \n\n(40) \n\n\nNet (decrease) increase in cash and cash equivalents \n(910) \n\n3,831 \n\n\nCash and cash equivalents at beginning of period \n10,567 \n\n7,925 \n\n\nCash and cash equivalents at end of period \n$    9,657 \n\n$  11,756 \n\n\n\n\nAppendix\nNon-GAAP Financial Measures\nThe following information provides definitions and reconciliations of certain non-GAAP financial measures presented in this press release to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP).\nManagement believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. Management believes the change to adjust for amortization of acquisition-related intangibles and certain acquisition- and divestiture-related costs provides investors with a more meaningful measure of its performance period to period, aligns the measure to how management will evaluate performance internally, and makes it easier for investors to compare our performance to peers. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Other companies may calculate these non-GAAP measures differently, limiting the usefulness of these measures for comparative purposes.\nManagement does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of these non-GAAP financial measures are that they exclude significant expenses and income that are required by GAAP to be recognized in the consolidated financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Investors are urged to review the reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures and not to rely on any single financial measure to evaluate Honeywell's business.\n\n\n\n\nHoneywell International Inc. Reconciliation of Organic Sales Percent Change (Unaudited) \n\n\n\nThree Months Ended March 31, 2025 \n\n\nHoneywell \n\n\n\nReported sales percent change \n8 % \n\n\nLess: Foreign currency translation \n(1) % \n\n\nLess: Acquisitions, divestitures and other, net \n5 % \n\n\nOrganic sales percent change \n4 % \n\n\n\n\n\n\nAerospace Technologies \n\n\n\nReported sales percent change \n14 % \n\n\nLess: Foreign currency translation \n— % \n\n\nLess: Acquisitions, divestitures and other, net \n5 % \n\n\nOrganic sales percent change \n9 % \n\n\n\n\n\n\nIndustrial Automation \n\n\n\nReported sales percent change \n(4) % \n\n\nLess: Foreign currency translation \n(2) % \n\n\nLess: Acquisitions, divestitures and other, net \n— % \n\n\nOrganic sales percent change \n(2) % \n\n\n\n\n\n\nBuilding Automation \n\n\n\nReported sales percent change \n19 % \n\n\nLess: Foreign currency translation \n(2) % \n\n\nLess: Acquisitions, divestitures and other, net \n13 % \n\n\nOrganic sales percent change \n8 % \n\n\n\n\n\n\nEnergy and Sustainability Solutions \n\n\n\nReported sales percent change \n2 % \n\n\nLess: Foreign currency translation \n(1) % \n\n\nLess: Acquisitions, divestitures and other, net \n5 % \n\n\nOrganic sales percent change \n(2) % \n\n\n\n\nWe define organic sales percentage as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures, for the first 12 months following the transaction date. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.\nA quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for the forward-looking measure of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change.\n\n\n\n\nHoneywell International Inc. Reconciliation of Operating Income to Segment Profit, Calculation of Operating Income and Segment Profit Margins  (Unaudited) (Dollars in millions) \n\n\n\nThree Months EndedMarch 31, \n\nTwelve Months Ended  December 31, \n\n\n\n2025 \n\n2024 \n\n2024 \n\n\nOperating income \n$             1,970 \n\n$             1,860 \n\n$             7,441 \n\n\nStock compensation expense1 \n61 \n\n53 \n\n194 \n\n\nRepositioning, Other2,3 \n62 \n\n92 \n\n292 \n\n\nPension and other postretirement service costs4 \n14 \n\n16 \n\n65 \n\n\nAmortization of acquisition-related intangibles5 \n136 \n\n70 \n\n415 \n\n\nAcquisition-related costs6 \n— \n\n3 \n\n25 \n\n\nIndefinite-lived intangible asset impairment1 \n— \n\n— \n\n48 \n\n\nImpairment of assets held for sale \n15 \n\n— \n\n219 \n\n\nSegment profit \n$             2,258 \n\n$             2,094 \n\n$             8,699 \n\n\n\n\n\n\n\n\n\n\nOperating income \n$             1,970 \n\n$             1,860 \n\n$             7,441 \n\n\n÷ Net sales \n$             9,822 \n\n$             9,105 \n\n$           38,498 \n\n\nOperating income margin % \n20.1 % \n\n20.4 % \n\n19.3 % \n\n\nSegment profit \n$             2,258 \n\n$             2,094 \n\n$             8,699 \n\n\n÷ Net sales \n$             9,822 \n\n$             9,105 \n\n$           38,498 \n\n\nSegment profit margin % \n23.0 % \n\n23.0 % \n\n22.6 % \n\n\n\n\n\n\n\n\n\n\n\n\n\n1 \n\nIncluded in Selling, general and administrative expenses. \n\n\n2 \n\nIncludes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. \n\n\n3 \n\nIncluded in Cost of products and services sold and Selling, general and administrative expenses. \n\n\n4 \n\nIncluded in Cost of products and services sold, Research and development expenses, and Selling, general and administrative expenses. \n\n\n5 \n\nIncluded in Cost of products and services sold. \n\n\n6 \n\nIncluded in Other (income) expense. Includes acquisition-related fair value adjustments to inventory and third-party transaction and integration costs. \n\n\n\n\nWe define operating income as net sales less total cost of products and services sold, research and development expenses, impairment of assets held for sale, and selling, general and administrative expenses. We define segment profit, on an overall Honeywell basis, as operating income, excluding stock compensation expense, pension and other postretirement service costs, amortization of acquisition-related intangibles, certain acquisition- and divestiture-related costs and impairments, and repositioning and other charges. We define segment profit margin, on an overall Honeywell basis, as segment profit divided by net sales. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.\nA quantitative reconciliation of operating income to segment profit, on an overall Honeywell basis, has not been provided for all forward-looking measures of segment profit and segment profit margin included herein. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of operating income to segment profit will be included within future filings.\nAcquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies.\n\n\n\n\nHoneywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) \n\n\n\nThree Months Ended March 31, \n\nTwelve Months Ended December 31, \n\n\n\n2025 \n\n2024 \n\n2024 \n\n2025(E) \n\n\nEarnings per share of common stock - diluted1 \n$                  2.22 \n\n$                  2.23 \n\n$                   8.71 \n\n$9.48 - $9.78 \n\n\nPension mark-to-market expense2 \n0.02 \n\n— \n\n0.14 \n\nNo Forecast \n\n\nAmortization of acquisition-related intangibles3 \n0.16 \n\n0.08 \n\n0.49 \n\n0.68 \n\n\nAcquisition-related costs4 \n0.01 \n\n0.01 \n\n0.09 \n\n0.02 \n\n\nDivestiture-related costs5 \n0.08 \n\n— \n\n0.04 \n\nNo Forecast \n\n\nRussian-related charges6 \n— \n\n0.02 \n\n0.03 \n\n— \n\n\nIndefinite-lived intangible asset impairment7 \n— \n\n— \n\n0.06 \n\n— \n\n\nImpairment of assets held for sale8 \n0.02 \n\n— \n\n0.33 \n\n0.02 \n\n\nAdjusted earnings per share of common stock - diluted \n$                  2.51 \n\n$                  2.34 \n\n$                   9.89 \n\n$10.20 - $10.50 \n\n\n\n\n\n\n\n\n\n\n\n\n\n1 \n\nFor the three months ended March 31, 2025, and 2024, adjusted earnings per share utilizes weighted average shares of approximately 651.7 million and 656.6 million, respectively. For the twelve months ended December 31, 2024, adjusted earnings per share utilizes weighted average shares of approximately 655.3 million. For the twelve months ended December 31, 2025, expected earnings per share utilizes weighted average shares of approximately 643 million. \n\n\n2 \n\nFor the three months ended March 31, 2025, pension mark-to-market expense is approximately $10 million, net of tax benefit of $4 million, related to the termination of a foreign pension plan. For the twelve months ended December 31, 2024, pension mark-to-market expense was $95 million, net of tax benefit of $31 million. \n\n\n3 \n\nFor the three months ended March 31, 2025, and 2024, acquisition-related intangibles amortization includes approximately $103 million and $55 million, net of tax benefit of approximately $33 million and $15 million, respectively. For the twelve months ended December 31, 2024, acquisition-related intangibles amortization includes $324 million, net of tax benefit of approximately $91 million. For the twelve months ended December 31, 2025, expected acquisition-related intangibles amortization includes approximately $440 million, net of tax benefit of approximately $110 million. \n\n\n4 \n\nFor the three months ended March 31, 2025, and 2024, the adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs, is approximately $6 million and $4 million, net of tax benefit of approximately $2 million and $1 million, respectively. For the twelve months ended December 31, 2024, the adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $59 million, net of tax benefit of approximately $16 million. For the twelve months ended December 31, 2025, the expected adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs, is approximately $10 million, net of tax benefit of approximately $5 million. \n\n\n5 \n\nFor the three months ended March 31, 2025, the adjustment for divestiture-related costs, which is principally comprised of third-party transaction and separation costs, is approximately $51 million, net of tax expense of approximately $3 million. For the twelve months ended December 31, 2024, the adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, is approximately $23 million, net of tax benefit of approximately $6 million. \n\n\n6 \n\nFor the three months ended March 31, 2024, and twelve months ended December 31, 2024, the adjustment is a $17 million expense, without tax benefit, due to the settlement of a contractual dispute with a Russian entity associated with the Company's suspension and wind down activities in Russia. \n\n\n7 \n\nFor the twelve months ended December 31, 2024, the impairment charge of indefinite-lived intangible assets associated with the personal protective equipment business is $37 million, net of tax benefit of $11 million. \n\n\n8 \n\nFor the three months ended March 31, 2025, the impairment charge of assets held for sale is $15 million, without tax benefit. For the twelve months ended December 31, 2024, the impairment charge of assets held for sale is $219 million, without tax benefit. For the twelve months ended December 31, 2025, the expected impairment charge of assets held for sale is $15 million, without tax benefit. \n\n\n\n\nWe define adjusted earnings per share as diluted earnings per share adjusted to exclude various charges as listed above. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward-looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense or the divestiture-related costs. The pension mark-to-market expense is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The divestiture-related costs are subject to detailed development and execution of separation restructuring plans for the announced separation of Automation and Aerospace Technologies. We therefore do not include an estimate for the pension mark-to-market expense or divestiture-related costs. Based on economic and industry conditions, future developments, and other relevant factors, these assumptions are subject to change.\nAcquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies.\n\n\n\n\nHoneywell International Inc. Reconciliation of Cash Provided by Operating Activities to Free Cash Flow (Unaudited) (Dollars in millions) \n\n\n\nThree Months Ended March 31, 2025 \n\nThree Months Ended March 31, 2024 \n\n\nCash provided by operating activities \n$                        597 \n\n$                        448 \n\n\nCapital expenditures \n(251) \n\n(233) \n\n\nFree cash flow \n$                        346 \n\n$                        215 \n\n\n\n\nWe define free cash flow as cash provided by operating activities less cash for capital expenditures.\nWe believe that free cash flow is a non-GAAP measure that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock, or repay debt obligations prior to their maturities. This measure can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity.\n\n\n\n\nHoneywell International Inc. Reconciliation of Expected Cash Provided by Operating Activities to Expected Free Cash Flow (Unaudited) (Dollars in billions) \n\n\n\nTwelve Months Ended December 31, 2025(E) \n\n\nCash provided by operating activities \n~$6.7 - $7.1 \n\n\nCapital expenditures \n~(1.3) \n\n\nFree cash flow \n~$5.4 - $5.8 \n\n\n\n\nWe define free cash flow as cash provided by operating activities less cash for capital expenditures.\nWe believe that free cash flow is a non-GAAP measure that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock, or repay debt obligations prior to their maturities. This measure can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity.\n\n\n\n\n Contacts: \n\n\n\n\n\n\n\nMedia \nInvestor Relations \n\n\nStacey Jones \nSean Meakim \n\n\n(980) 378-6258 \n(704) 627-6200 \n\n\nstacey.jones@honeywell.com \nsean.meakim@honeywell.com \n\n\n\n\n View original content to download multimedia:https://www.prnewswire.com/news-releases/honeywell-reports-first-quarter-results-updates-2025-guidance-302440380.html\nSOURCE Honeywell","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}