Honeywell — Jul 24, 2025 release

As we prepare to separate into three industry-leading public companies, we are confident that our efforts to shape our portfolio have positioned Honeywell to deliver significant value for customers, employees, and shareholders." As a result of the company's second-quarter performance and management's outlook for the remainder of the year, Honeywell updated its full-year sales, segment margin 2 , and adjusted earnings per share 2,3 guidance. Full-year sales are now expected to be $40.8 billion to $41.3 billion with organic 1 sales growth in the range of 4% to 5%. Segment margin 2 is expected to be in the range of 23.0% to 23.2%, with segment margin 2 expansion of 40 to 60 basis points year over year. Adjusted earnings per share 2,3 is now expected to be in the range of $10.45 to $10.65, up 20 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, with free cash flow 1 in the range of $5.4 billion to $5.8 billion. Excluding the impact of the Bombardier agreement 4 signed in the fourth quarter of 2024, the company expects organic sales 1 growth of 3% to 4%, segment margin 2 down 30 to 10 basis points year over year, and adjusted earnings per share 2,3 up 1% to 3% year over year. Guidance now includes the impact of the Sundyne acquisition, which closed in June, and the sale of the company's Personal Protective Equipment business, which closed in May. A summary of the company's full-year guidance changes can be found in Table 1. Portfolio Transformation In 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 separatio