Overview
- Honeywell now expects full-year adjusted earnings of $10.60 to $10.70 per share, a range that factors in a 21-cent impact from separating its advanced materials unit.
- The Solstice business will begin independent trading on Nasdaq on October 30, with the separation expected to reduce annual sales by roughly $700 million.
- Third-quarter sales rose 7% to $10.41 billion, while aerospace revenue climbed 15% to $4.51 billion on robust aftermarket and defense activity.
- Adjusted earnings per share for the quarter increased to $2.82 from $2.58 a year earlier as supply chain pressures in aerospace eased.
- Honeywell reiterated plans to spin off its aerospace business next year, with leadership and headquarters to be named later this year and separation targeted for the second half.