HONEYWELL INTERNATIONAL (HON) Company Report

Honeywell Aerospace will separate as a pure-play supplier in second half of 2026, led by Jim Currier as President & CEO and Craig Marwell as Chairman, targeting laser focus and enhanced capital allocation.
The business offers a nose-to-tail portfolio across three SBUs—Electronic Solutions, Engines & Power Systems, and Control Systems—serving commercial air transport, business jet, and defense markets.
Aftermarket revenue growth decoupled from flight hours through Retrofit Mods & Updates represents ~10% of sales and has grown ~20% over the past three years, supporting margin expansion post-Q3 2025.
Defense accounts for 40% of revenue (75% domestic, 25% international), with over $1 billion invested in supply chain enhancements since 2021 to alleviate mechanical constraints and sustain a 13-quarter run of double-digit OE factory volume growth.
Recent M&A integrations (e.g., CAES, Civitanovi) have exceeded synergy expectations, while backlog has reached $39 billion with a book-to-bill of 1.2, underscoring robust demand visibility.

Nov 11, 2025, 1:55 PM

Transcript

Honeywell Aerospace outlines spin-off and strategic priorities

HON

M&A

Honeywell Aerospace spin-off on track for 2026, will be positioned as a pure play aerospace supplier with an investment-grade balance sheet and focused leadership.
Portfolio spans three SBUs — Electronic Solutions, Engines & Power Systems, Control Systems — covering commercial air transport, business aviation, and defense/space, with nose-to-tail product coverage.
Aftermarket decoupled growth strategy via retrofits and value-added services now represents ~10% of revenue, growing 10% year-on-year and outpacing flight-hour–tied maintenance.
Supply chain resilience bolstered by $1 billion+ invested since 2021 in key suppliers, embedding teams on-site, enabling 13 consecutive quarters of double-digit volume output.
Defense accounts for 40% of revenue (75% domestic, 25% direct international non-FMS), with non-ITAR solutions (e.g., Civitanavi acquisition) targeting NATO and Indo-Pacific demand; backlog at $39 billion with a 1.2 book-to-bill ratio.

Nov 11, 2025, 1:55 PM

Transcript

Honeywell Aerospace to spin off in H2 2026 with focused growth strategy

HON

New Projects/Investments

Spin-off planned for second half of 2026 will create a pure-play aerospace supplier with dedicated capital allocation and laser focus on aerospace activities.
Nose-to-tail portfolio organized into Electronic Solutions, Engines & Power Systems, and Control Systems serving commercial air transport, business aviation, and defense & space.
Operating system emphasizes productivity, efficiency, resilience, and margin expansion, with R&D spend at or above peers; margins bottomed in Q2 2025 and expanded in Q3 with further improvement expected into 2026.
Supply-chain investments of over $1 billion since 2021 have fully restored electronics capacity and are alleviating mechanical constraints, underpinning 13 consecutive quarters of double-digit factory volume growth.

Nov 11, 2025, 1:55 PM

Transcript

Honeywell Aerospace outlines spinoff and strategic priorities at Baird conference

HON

New Projects/Investments

M&A

Honeywell Aerospace is on track to spin off as an independent, pure-play publicly traded company in H2 2026, unlocking laser-focused strategy and full control over capital allocation with an investment-grade balance sheet.
The business spans a nose-to-tail portfolio across three SBUs—Electronic Solutions, Engines & Power Systems, and Control Systems—serving commercial air transport, business aviation, and defense & space markets.
Since 2021, Honeywell has invested over $1 billion in its mechanical and electronic supply base, embedding teams on-site to resolve capacity constraints and achieving 13 consecutive quarters of double-digit factory volume growth.
Defense sales account for 40% of revenue (75% domestic, 25% direct international), with a strategic shift to develop non-ITAR technologies—bolstered by the Civitanovi acquisition—to capitalize on NATO and Indo-Pacific budget uplifts.
Completed integrations of CAES and Civitanovi have exceeded synergy expectations, and Honeywell plans continued M&A as a key growth pillar alongside organic and JV strategies.

Nov 11, 2025, 1:55 PM

Transcript

Honeywell appoints CEO and Board Chair for aerospace spin-off

HON

CEO Change

Board Change

Honeywell named Jim Currier as President and CEO and Craig Arnold as Chairman of the Board for its planned Honeywell Aerospace spin-off, expected to complete in H2 2026.
As a standalone pure-play aerospace supplier, Honeywell Aerospace will have over $15 billion in 2024 sales and be headquartered in Phoenix, Arizona.
Currier, who has led Honeywell Aerospace Technologies since 2023, will transition from his current role to lead the independent company.
Arnold, former Chairman and CEO of Eaton and GE executive, will assume the non-executive Board Chair role post-spin-off and joins Honeywell’s board immediately.

Nov 3, 2025, 12:00 PM

Press Release

Honeywell completes spin-off of Solstice Advanced Materials

HON

M&A

Honeywell has completed the spin-off of its Advanced Materials business, now operating as Solstice Advanced Materials, with shares trading on Nasdaq under the ticker SOLS; Honeywell remains listed as HON.
The spin-off marks a key step in Honeywell's transformation into three independent companies, with the separation of its Automation and Aerospace businesses scheduled for completion in H2 2026.
At the distribution record date of October 17, 2025, shareholders received one share of Solstice common stock for every four shares of Honeywell common stock held, with cash in lieu of fractional shares.
Honeywell aims to deliver greater long-term value through a more focused portfolio and distinct growth strategies for each standalone company.

Oct 30, 2025, 11:00 AM

Press Release

Honeywell introduces biomass-based renewable fuel technology

HON

Product Launch

New Projects/Investments

Honeywell launched Biocrude Upgrading process technology to convert agricultural and forestry waste into ready-to-use renewable fuels (marine fuel, gasoline, SAF) for hard-to-abate sectors.
The drop-in fuels offer a lower-carbon, higher-energy density alternative to heavy fuel oil, enabling extended vessel range without engine upgrades.
The technology is available as a modular prefabricated plant, reducing construction risk and accelerating project timelines.
It complements Honeywell’s existing renewable fuels portfolio, including Ecofining™, Ethanol to Jet, FT Unicracking™, and UOP eFining™, amid rising maritime decarbonization pressures.

Oct 28, 2025, 11:30 AM

Press Release

Honeywell approves spin-off of Solstice Advanced Materials

HON

M&A

Honeywell’s Board has approved the spin-off of Solstice Advanced Materials, expected to complete at 12:01 a.m. ET on October 30, 2025.
Solstice shares will be distributed pro rata to Honeywell shareholders of record on October 17, 2025, at 1 share of Solstice for every 4 shares of Honeywell.
Solstice common stock will trade on Nasdaq under “SOLSV” on a when-issued basis from October 20, 2025, and under “SOLS” on a regular-way basis starting October 30, 2025.
From October 20–29, two markets will trade Honeywell shares on Nasdaq: “HON” (with distribution rights) and “HONIV” (ex-distribution).

Oct 16, 2025, 11:00 AM

Press Release

Honeywell forecasts record business jet deliveries over next decade

HON

Guidance Update

Honeywell projects 8,500 new business jet deliveries valued at $283 billion over the next decade, representing a 3 % average annual growth rate, the highest in the report’s 34-year history.
Deliveries in 2026 are expected to rise by 5 % compared to 2025, fueled by fractional operators and the return of 100 % bonus depreciation under recent U.S. tax law.
20 % of global operators now have aircraft on firm order (up from 17 % last year), and 91 % of respondents expect to fly the same or more in 2026 versus 2025.
Fractional ownership fleets have grown over 65 % since 2019, reaching about 1,300 aircraft and driving significant demand expansion.

Oct 14, 2025, 12:00 AM

Press Release

Helen of Troy reports Q2 FY2026 results

HON

Earnings

Guidance Update

Demand Weakening

Consolidated net sales declined 8.9% year-over-year to $431.8 million in Q2 FY2026.
GAAP diluted loss per share was $13.44, driven by $326.4 million of non-cash asset impairment charges, versus prior-year EPS of $0.74.
Non-GAAP adjusted EPS declined to $0.59 from $1.21, reflecting higher tariffs, increased promotional spend, and unfavorable operating leverage.
Fiscal 2026 guidance calls for net sales of $1.739–$1.780 billion and non-GAAP adjusted EPS of $3.75–$4.25, amid ongoing tariff pressures and cost-mitigation initiatives.

Oct 9, 2025, 10:45 AM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for HONEYWELL INTERNATIONAL.