This HONIV security is an "ex-distribution / when-issued" instrument, created in anticipation of Honeywell's separation of its Advanced Materials division. This divestiture ...
Honeywell International Inc., founded in 1906 by Mark C. Honeywell, is a multinational technology and manufacturing conglomerate headquartered in Charlotte, North Carolina. As a titan in the industrial sector, Honeywell provides industry-specific solutions spanning aerospace, automotive products, building automation, and high-performance materials. The ticker symbol HONIV is specifically utilized to ...Honeywell International Inc., founded in 1906 by Mark C. Honeywell, is a multinational technology and manufacturing conglomerate headquartered in Charlotte, North Carolina. As a titan in the industrial sector, Honeywell provides industry-specific solutions spanning aerospace, automotive products, building automation, and high-performance materials. The ticker symbol HONIV is specifically utilized to designate 'When Issued' trading for Honeywell common stock during the corporate action involving the spin-off of Solstice Advanced Materials Inc., which was announced in late 2025.
Business and Products: The company’s diverse portfolio is organized into segments such as Aerospace, Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. Honeywell’s business model relies on heavy R&D investment to drive innovation in sustainability and digitalization. By leveraging its software-industrial expertise, the company offers a suite of integrated systems that optimize performance, energy efficiency, and safety for global clients.
Financials and Cost Structure: Honeywell operates with a robust balance sheet, historically managing a massive workforce that peaked at over 100,000 employees. The cost structure involves substantial capital expenditure to maintain global manufacturing plants and supply chains. The spin-off of Solstice is designed to unlock shareholder value by allowing Solstice to focus exclusively on advanced materials, while Honeywell focuses on its core software-industrial growth engines.
Strategic Vision: Under CEO Vimal Kapur, the company has emphasized a strategy of portfolio optimization and operational excellence. The board and leadership team continuously evaluate the divestiture of non-core assets to sharpen their competitive edge in high-growth areas like the energy transition and industrial automation.
Key People: Vimal Kapur, serving as Chairman and CEO, leads the strategic direction of the enterprise, supported by a veteran executive leadership team focused on navigating the complexities of global supply chains and economic cycles.
Looking ahead, Honeywell aims to remain a leader in the industrial sector by blending traditional mechanical engineering with cutting-edge software, ensuring that it remains vital to the infrastructure and technology needs of a modern, interconnected world.
Founded
1906
Employees
101000
CEO
Vimal M. Kapur
Full Name
Honeywell International Inc. Common Stock Ex Distribution When Issued
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$37.4B
-2.7%
-6.3%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$4.7B
-17.1%
+178.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+38.3%
-0.0%
+9.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+19.2%
-5.8%
+19.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+12.6%
-14.8%
+197.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$5.4B
+9.9%
-176.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+14.5%
+13.0%
-181.3%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
255.8%
+47.8%
+8.6%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.30x
-1.2%
+6.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Thank you for standing by, and welcome to the Honeywell First Quarter 2026 Earnings Conference Call. [Operator Instructions]. Please be advised that today's call is being recorded. I would now like to hand the call over to Mark Macaluso Senior Vice President of Investor Relations. Please go ahead, sir.
Mark Macaluso: Thank you. Good morning, and welcome to Honeywell's First Quarter 2026 Earnings and Outlook Conference Call. On the call with me today are Honeywell Chairman and Chief Executive Officer, Vimal Kapur; Honeywell Aerospace Technologies President and Chief Executive Officer, Jim Currier, and Senior Vice President and Chief Financial Officer, Mike Stepniak. This webcast and the presentation materials, including non-GAAP reconciliations, are available on our Investor Relations website. From time to time, we post new information on this website that may be of interest or material to our investors. Our discussion today includes forward-looking statements that are based on our best view of the world, and of our businesses as we see them today and are subject to certain risks and uncertainties, including those described in our recent SEC filings. This morning, we will review our financial results for the first quarter of 2026, provide guidance for the second quarter and discuss our full year outlook. As always, we'll leave time for your questions at the end with Vimal, Mike and Jim. With that, it's my pleasure to turn the call over to Vimal, who will begin on Slide 3.
Vimal Kapur: Thank you, Mark, and good morning, everyone. Honeywell delivered strong results in the first quarter, building on the momentum from 2025, despite a complex geopolitical backdrop and temporary mechanical supply chain constraints in Aerospace. Orders grew 7% organically on the strength of our Building and Industrial Automation segment as well as in petrochemical and refining verticals in Process segment. Including the orders growth in Aerospace, we drove backlog to over $38 billion with book-to-bill above 1.1. Sales growth was robust across Electronic Solutions and Aerospace, [indiscernible] aftermarket services in Building Automation and gas and LNG in Process Automation and Technology bolstered by our innovation and new product engine. We expanded margin 90 basis points to over 23%, driven by pricing discipline, productivity and accelerated stranded cost removal ahead of the Aerospace spin. All of this drove 11% adjusted earnings growth in the quarter, demonstrating the strength and agility of the Honeywell operating system. We also made tremendous progress on the portfolio transformation that began in 2023. We announced the sale of our Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, respectively, which we expect to close in the second half of 2026. We are also excited to announce that now we expect to complete the Honeywell Aerospace spinoff in the third quarter on June 29, marking the final step in our transformation. …
