Technology
HONEYWELL REAFFIRMS 2026 OUTLOOK AHEAD OF HONEYWELL AEROSPACE SPIN-OFF; INITIATES 2026 OUTLOOK FOR HONEYWELL TECHNOLOGIES
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CHARLOTTE, N.C., June 8, 2026 /PRNewswire/ — Honeywell (NASDAQ: HON) today announced it was reaffirming its full-year 2026 guidance ahead of the planned Honeywell Aerospace spin-off on June 29, 2026. The company also provided a preliminary 2026 outlook for the remaining company post spin, which will conduct business under the name Honeywell Technologies. The company will discuss its latest outlook for 2026 during an investor conference call starting at 8:30 a.m. Eastern Daylight Time today, which precedes its 2026 Investor Day on June 11, 2026.
2026 Outlook
Honeywell continues to expect sales of $38.8 billion to $39.8 billion with organic1 sales growth in the range of 3% to 6%. Segment margin2 is expected to be 22.7% to 23.1%, with segment margin2,5 expansion of 20 to 60 basis points. Adjusted earnings per share3 is expected to be $10.35 to $10.65, up 6% to 9%. The company expects operating cash flow of $4.7 billion to $5.0 billion, while free cash flow1,4 is expected to be $5.3 billion to $5.6 billion, representing growth of 4% to 10% for the full year. A summary of the company’s 2026 guidance can be found below in Table 1.
Honeywell Technologies Guidance Framework
The company also provided a preliminary guidance framework for the company that will remain after the Honeywell Aerospace spin-off, which is expected to be completed on June 29, 2026. This framework excludes full-year expected results for the aerospace segment. The outlook incorporates the impact of the planned divestitures of Productivity Solutions and Services (PSS) and Warehouse and Workflow Solutions, which the company announced it had reached agreements to sell in the second quarter and expects to close by the fourth quarter. The outlook includes estimated results for the Johnson Matthey Catalyst Technologies acquisition, which it announced in May 2025 and expects to close in the third quarter. Finally, the company announced that it intends to make certain changes to the presentation of its adjusted results, including removing the income stemming from an overfunded pension liability and removing the consolidated results of Quantinuum following the June 4 initial public offering. The company believes these changes provide investors with a better basis for evaluating performance going forward.
Considering these updates, Honeywell Technologies expects 2026 sales of $19.9 billion to $20.2 billion with organic1 sales growth in the range of 2% to 3%. Segment margin2 is expected to be 19.8% to 20.3%, with segment margin2 expansion of 220 to 270 basis points. Adjusted earnings per share3 is expected to be $3.95 to $4.15, up 22% to 28%. Finally, the company expects free cash flow1,4 of approximately $2.0 billion. A summary of Honeywell Technologies’ 2026 guidance can also be found below in Table 1.
Table 1: Full-Year 2026 and 2H 2026 Guidance1
Prior Guidance
(Honeywell International)
2026 Guidance
(Honeywell Technologies)
2H 2026 Guidance
(Honeywell Technologies)
Sales
$38.8B – $39.8B
$19.9B – $20.2B
$10.1B – $10.3B
Organic1 Growth
3% – 6%
2% – 3%
3% – 5%
Segment Margin
22.7% – 23.1%
19.8% – 20.3%
20.9% – 21.6%
Expansion
20 – 60 bps5
220 – 270 bps
310 – 380 bps
Adjusted Earnings Per Share3
$10.35 – $10.65
$3.95 – $4.15
$2.20 – $2.35
Adjusted Earnings Growth3
6% – 9%
22% – 28%
22% – 31%
Operating Cash Flow
$4.7B – $5.0B
~$2.1B
~$2.3B
Free Cash Flow1,4
$5.3B – $5.6B
~$2.0B
~$1.5B
1
See additional information at the end of this release regarding non-GAAP financial measures.
2
Segment 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.
3
Adjusted 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.
4
With respect to historical periods, free cash flow adjusts for capital expenditures, spin-off and separation-related cost payments, Resideo indemnification and reimbursement agreement termination payment, cash payment for settlement of the divestiture of asbestos liabilities, and cash payment for settlement of Flexjet-related litigation matters. With respect to the company’s outlook for 2026, free cash flow adjusts for capital expenditures, spin-off and separation-related cost payments, and cash payment for settlement of Flexjet-related litigation matters.
5
Segment margin expansion as compared to Adjusted segment margin in 2025.
Conference Call and 2026 Investor Day Details
Honeywell will discuss its 2026 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. The company will also host a live video webcast of its investor conference which will take place in New York City on Thursday, June 11, 2026. The event will feature presentations and Q&A panels with the management team. A real-time webcast of this presentation and related presentation materials can also be accessed at the company’s website, and a replay of this webcast will be available for 30 days following the presentation.
About Honeywell
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world, with a portfolio that is underpinned by our Honeywell Accelerator operating system and Honeywell Forge platform. As a trusted partner, we help organizations solve the world’s toughest, most complex challenges, providing actionable solutions and innovations for aerospace, building automation, industrial automation, process automation, and process technology that help make the world smarter and safer as well as more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
Honeywell 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.
We 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 separation of Honeywell and Honeywell Aerospace and the planned sales of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses. Forward-looking statements are those that address activities, events, or developments that we or our management intend, expect, project, believe, or anticipate 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 the proposed separation of Honeywell and Honeywell Aerospace and the planned sales of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses. 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 proposed separation of Honeywell and Honeywell Aerospace and the planned sales of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, 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 changes in or application of trade and tax laws and policies, including 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, including ongoing conflicts in the Middle East, that 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.
This release contains financial measures presented on a non-GAAP basis. Honeywell’s non-GAAP financial measures used in this release are as follows:
Adjusted net sales; Adjusted net sales excluding spin-off and divestiture impact;Segment profit, on an overall Honeywell basis; Segment profit excluding spin-off and divestiture impact;Adjusted segment profit, on an overall Honeywell basis; Adjusted segment profit excluding spin-off and divestiture impact;Segment profit margin, on an overall Honeywell basis; Segment profit margin excluding spin-off and divestiture impact;Organic sales growth;Free cash flow; Free cash flow excluding spin-off and divestiture impact; andAdjusted earnings per share; Adjusted earnings per share excluding spin-off and Quantinuum divestiture impact; Adjusted earnings per share excluding spin-off and divestiture impact.
Management 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.
Appendix
Non-GAAP Financial Measures
The 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).
Management 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. Other companies may calculate these non-GAAP measures differently, limiting the usefulness of these measures for comparative purposes.
Management 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.
As indicated herein, certain forward-looking non-GAAP financial measures are not reconciled because management cannot reliably predict or estimate certain items for the reasons specified herein with respect to each non-GAAP financial measure.
Honeywell International Inc.
Reconciliation of Operating Income to Segment Profit and Adjusted Segment Profit, Net Sales to Adjusted Net Sales, Calculation of
Segment Profit Margin and Adjusted Segment Profit Margin, on an Overall Honeywell Basis and Excluding Spin-off and Divestiture Impact
(Unaudited)
(Dollars in millions)
Twelve Months Ended December 31, 2025
As Reported
Less: Spin-off and
Divestiture Impact(1)
Excluding Spin-off and
Divestiture Impact
Operating income
$ 5,573
$ 4,268
$ 1,305
Stock compensation expense(4)
196
43
153
Repositioning, Other(2),(3)
675
231
444
Amortization of acquisition-related intangibles(6)
570
62
508
Pension and other postretirement service costs(3)
73
16
57
Acquisition-related costs(5)
2
—
2
Indefinite-lived intangible asset impairment(6)
44
—
44
Impairment of goodwill
724
—
724
Impairment of assets held for sale
270
—
270
Segment profit
$ 8,127
$ 4,620
$ 3,507
Flexjet-related litigation matters
373
373
—
Adjusted segment profit
$ 8,500
$ 4,993
$ 3,507
Net sales
$ 37,442
$ 17,527
$ 19,915
Flexjet-related litigation matters
312
312
—
Adjusted net sales
$ 37,754
$ 17,839
$ 19,915
Adjusted segment profit
$ 8,500
$ 3,507
÷ Adjusted net sales
$ 37,754
$ 19,915
Adjusted segment profit margin
22.5 %
17.6 %
1
Excludes the impacts attributable to the Aerospace Technologies business, which is expected to spin-off on June 29, 2026, and attributable to Quantinuum, due to its initial public offering on June 4, 2026
2
Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges
3
Included in Cost of products and services sold and Selling, general and administrative expenses
4
Included in Selling, general and administrative expenses
5
Included in Other (income) expense. Includes acquisition-related fair value adjustments to inventory and third-party transaction and integration costs.
6
Included in Cost of products and services sold.
Six Months Ended December 31, 2025
As Reported
Less: Spin-off and
Divestiture Impact(1)
Excluding Spin-off
and Divestiture Impact
Operating income
$ 2,009
$ 1,955
$ 54
Stock compensation expense(4)
82
21
61
Repositioning, Other(2),(3)
574
228
346
Amortization of acquisition-related intangibles(6)
303
23
280
Pension and other postretirement service costs(3)
46
8
38
Acquisition-related costs(5)
9
—
9
Indefinite-lived intangible asset impairment(6)
44
—
44
Impairment of goodwill
724
—
724
Impairment of assets held for sale
255
—
255
Segment profit
$ 4,046
$ 2,235
$ 1,811
Flexjet-related litigation matters
373
373
—
Adjusted segment profit
$ 4,419
$ 2,608
$ 1,811
Net sales
$ 19,196
$ 9,034
$ 10,162
Flexjet-related litigation matters
312
312
—
Adjusted net sales
$ 19,508
$ 9,346
$ 10,162
Adjusted segment profit
$ 4,419
$ 1,811
÷ Adjusted net sales
$ 19,508
$ 10,162
Adjusted segment profit margin
22.7 %
17.8 %
1
Excludes the impacts attributable to the Aerospace Technologies business, which is expected to spin-off on June 29, 2026, and attributable to Quantinuum, due to its initial public offering on June 4, 2026
2
Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges
3
Included in Cost of products and services sold and Selling, general and administrative expense
4
Included in Selling, general and administrative expenses
5
Included in Other (income) expense. Includes acquisition-related fair value adjustments to inventory and third-party transaction and integration costs.
6
Included in Cost of products and services sold.
We define operating income as net sales less total cost of products and services sold, research and development expenses, selling, general and administrative expenses, impairment of goodwill, and impairment of assets held for sale. 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 adjusted segment profit, on an overall Honeywell basis, as segment profit excluding the segment profit impact of the Flexjet-related litigation matters. We define segment profit margin, on an overall Honeywell basis, as segment profit divided by net sales. We define adjusted net sales as net sales less the sales impact of the Flexjet-related litigation matters. Management considers the nature and significance of these litigation matters to be unusual and not indicative of the Company’s ongoing performance. We define adjusted segment profit margin, on an overall Honeywell basis, as adjusted segment profit divided by adjusted net sales. These measures are each shown on an overall Honeywell basis and excluding spin-off and divestiture impacts, which we define as less the respective impacts attributable to the Aerospace Technologies business, which is expected to spin-off on June 29, 2026, and attributable to Quantinuum, due to its initial public offering on June 4, 2026. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.
A 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. 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.
Acquisition 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.
Honeywell International Inc.
Reconciliation of Earnings per Share to Adjusted Earnings per Share Excluding Spin-off and Quantinuum Divestiture Impact
(Unaudited)
Twelve Months Ended December 31, 2025
As Reported
Less: Spin-off
and
Quantinuum
Divestiture
Impact(1)
Excluding
Spin-off and
Quantinuum
Divestiture
Impact
Earnings per share of common stock from continuing operation – diluted(2)
$ 6.94
$ 5.19
$ 1.75
Pension income(3)
(0.46)
(0.39)
(0.07)
Amortization of acquisition-related intangibles(4)
0.67
0.08
0.59
Acquisition-related costs(5)
0.05
—
0.05
Divestiture-related costs(6)
0.72
0.31
0.41
Indefinite-lived intangible asset impairment(7)
0.07
—
0.07
Impairment of goodwill(8)
1.13
—
1.13
Impairment of assets held for sale(9)
0.32
—
0.32
Loss (gain) on sale of business(10)
0.04
—
0.04
Gain related to Resideo indemnification and reimbursement agreement termination(11)
(1.25)
—
(1.25)
Adjustment to estimated future environmental liabilities(12)
0.25
0.22
0.03
Loss on expected settlement of divestiture of asbestos liabilities(13)
0.17
—
0.17
Flexjet-related litigation matters(14)
0.48
0.48
—
Adjusted earnings per share of common stock from continuing operations – diluted
$ 9.13
5.89
$ 3.24
1
Excludes the impacts attributable to the Aerospace Technologies business, which is expected to spin-off on June 29, 2026, and attributable to Quantinuum, due to its initial public offering on June 4, 2026.
2
For the twelve months ended December 31, 2025, adjusted earnings per share utilizes weighted average shares of approximately $642.8 million.
3
For the twelve ended December 31, 2025, pension income as reported was $293 million, net of tax expense of $88 million. For the twelve months ended December 31, 2025, pension income excluding spin-off and Quantinuum divestiture impact was $44 million, net of tax expense of $24 million.
4
For the twelve months ended December 31, 2025, acquisition-related intangibles amortization as reported was $432 million, net of tax benefit of $138 million. For the twelve months ended December 31, 2025, acquisition-related intangibles amortization excluding spin-off and Quantinuum divestiture impact was $382 million, net of tax benefit of $121 million.
5
For the twelve months ended December 31, 2025, 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 $35 million, net of tax benefit of $10 million.
6
For the twelve months ended December 31, 2025, the adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, was $460 million as reported, net of tax benefit of approximately $61 million. For the twelve months ended December 31, 2025, divestiture-related costs excluding spin-off and Quantinuum divestiture impact was $261 million, net of tax expense of approximately $31 million.
7
For the twelve months ended December 31, 2025, the impairment charge of indefinite-lived intangible assets associated with the Industrial Automation reportable segment was $44 million, without tax benefit.
8
For the twelve months ended December 31, 2025, the impairment charge of goodwill associated with the Industrial Automation reportable segment was $724 million, without tax benefit.
9
For the twelve months ended December 31, 2025, the impairment charge of assets held for sale was $209 million, net of tax benefit of $61 million.
10
For the twelve months ended December 31, 2025, the adjustment for loss on sale of the personal protective equipment business was $28 million, net of tax benefit of $2 million.
11
For the twelve months ended December 31, 2025, the gain related to the Resideo indemnification and reimbursement agreement termination was $802 million, without tax expense.
12
In the twelve months ended December 31, 2025, the Company enhanced its process for estimating environmental liabilities at sites undergoing active remediation, which led to earlier recognition of the estimated probable liabilities and an increase to estimated environmental liabilities. For the twelve months ended December 31, 2025, the adjustment to increase environmental liabilities as reported was $161 million, net of tax benefit of $50 million. For the twelve months ended December 31, 2025, the adjustment to increase environmental liabilities excluding spin-off and Quantinuum divestiture impact was $22 million, net of tax benefit $7 million.
13
For the twelve months ended December 31, 2025, the adjustment for loss on settlement of divestiture of asbestos liabilities was $112 million, net of tax benefit of $36 million.
14
For the twelve months ended December 31, 2025, the adjustment for the Flexjet-related litigation matters was $302 million, net of tax benefit of $71 million. Management considers the nature and significance of these litigation matters to be unusual and not indicative of the Company’s ongoing performance.
Six Months Ended December 31, 2025
As Reported
Less: Spin-off
and
Quantinuum
Divestiture
Impact(1)
Excluding
Spin-off and
Quantinuum
Divestiture
Impact
Earnings per share of common stock from continuing operation – diluted(2)
$ 2.80
$ 2.11
$ 0.69
Pension income(3)
(0.19)
(0.21)
0.02
Amortization of acquisition-related intangibles(4)
0.36
0.03
0.33
Acquisition-related costs(5)
0.05
—
0.05
Divestiture-related costs(6)
0.61
0.37
0.24
Indefinite-lived intangible asset impairment(7)
0.07
—
0.07
Impairment of goodwill(8)
1.13
—
1.13
Impairment of assets held for sale(9)
0.32
—
0.32
Loss (gain) on sale of business
—
—
—
Gain related to Resideo indemnification and reimbursement agreement termination(10)
(1.25)
—
(1.25)
Adjustment to estimated future environmental liabilities(11)
0.25
0.22
0.03
Loss on expected settlement of divestiture of asbestos liabilities(12)
0.17
—
0.17
Flexjet-related litigation matters(13)
0.48
0.48
0.00
Adjusted earnings per share of common stock from continuing operations – diluted
$ 4.80
$ 3.00
$ 1.80
1
Excludes the impacts attributable to the Aerospace Technologies business, which is expected to spin-off on June 29, 2026, and attributable to Quantinuum, due to its initial public offering on June 4, 2026
2
For the six months ended December 31, 2025, adjusted earnings per share utilizes weighted average shares of approximately $640.8 million.
3
For the six months ended December 31, 2025, pension income as reported was $120 million, net of tax expense of $36 million. For the six months ended December 31, 2025, pension expense excluding spin-off and Quantinuum divestiture impact was $16 million, net of tax expense of $6 million.
4
For the six months ended December 31, 2025, acquisition-related intangibles amortization as reported was $230 million, net of tax benefit $73 million. For the six months ended December 31, 2025, acquisition-related intangibles amortization excluding spin-off and Quantinuum divestiture impact was $210 million, net of tax benefit $67 million.
5
For the six months ended December 31, 2025, 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 $30 million, net of tax benefit of $9 million.
6
For the six months ended December 31, 2025, divestiture-related costs as reported was $393 million, net of tax benefit of approximately $59 million. For the six months ended December 31, 2025, divestiture-related costs excluding spin-off and Quantinuum divestiture impact was $154 million, net of tax benefit of approximately $28 million.
7
For the six months ended December 31, 2025, the impairment charge of indefinite-lived intangible assets associated with the Industrial Automation reportable segment was $44 million, without tax benefit.
8
For the six months ended December 31, 2025, the impairment charge of goodwill associated with the Industrial Automation reportable segment was $724 million, without tax benefit.
9
For the six months ended December 31, 2025, the impairment charge of assets held for sale was $209 million, net of tax benefit of $61 million.
10
For the six months ended December 31, 2025, the gain related to the Resideo indemnification and reimbursement agreement termination was $802 million, without tax expense.
11
In the six months ended December 31, 2025, the Company enhanced its process for estimating environmental liabilities at sites undergoing active remediation, which led to earlier recognition of the estimated probable liabilities and an increase to estimated environmental liabilities. For the six months ended December 31, 2025, the adjustment to increase environmental liabilities as reported was $161 million, net of tax benefit of $50 million. For the six months ended December 31, 2025, the adjustment to increase environmental liabilities excluding spin-off and Quantinuum divestiture impact was $22 million, net of tax benefit $7 million.
12
For the six months ended December 31, 2025, the adjustment for loss on settlement of divestiture of asbestos liabilities was $112 million, net of tax benefit of $36 million.
13
For the six months ended December 31, 2025, the adjustment for the Flexjet-related litigation matters was $302 million, net of tax benefit of $71 million. Management considers the nature and significance of these litigation matters to be unusual and not indicative of the Company’s ongoing performance.
We define adjusted earnings per share as diluted earnings per share from continuing operations adjusted to exclude various charges as listed above. We define adjusted earnings per share excluding spin-off and Quantinuum divestiture impact as adjusted earnings per share less impact of adjusted earnings per share attributable to the Aerospace Technologies business, which is expected to spin-off on June 29, 2026, and attributable to Quantinuum, due to its initial public offering on June 4, 2026. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.
Honeywell International Inc.
Reconciliation of Earnings per Share to Adjusted Earnings per Share Excluding Spin-off and Divestiture Impact
(Unaudited)
Twelve Months Ended December 31, 2026(E)
Six Months
Ended
December 31,
2026(E)
Previous
Guidance
Less: Spin-off
and Divestiture
Impact(1)
Guidance
Excluding Spin-
off and
Divestiture
Impact
Guidance
Earnings per share of common stock from continuing operation – diluted(2)
$8.87 – $9.17
$5.98-$6.08
$2.89 – $3.09
$1.84 – $1.99
Pension income(3)
No Forecast
No Forecast
No Forecast
No Forecast
Amortization of acquisition-related intangibles(4)
0.75
0.11
0.64
0.32
Acquisition-related costs(5)
0.05
—
0.05
0.02
Divestiture-related costs
No Forecast
No Forecast
No Forecast
No Forecast
Debt restructuring costs(6)
0.36
—
0.36
—
ERP implementation costs(7)
0.02
—
0.02
0.02
Impairment of assets held for sale(8)
0.31
0.31
—
—
Loss (gain) on sale of business(9)
(0.01)
—
(0.01)
—
Adjusted earnings per share of common stock from continuing operations – diluted
$10.35 – $10.65
$6.40 – $6.50
$3.95 – $4.15
$2.20 – $2.35
1
Excludes the forecasted earnings attributable to the Aerospace Technologies business, due to the expected spin-off on June 29, 2026, attributable to Quantinuum, due to its initial public offering on June 4, 2026, and attributable to Productivity Solutions and Services and Warehouse and Workflow Solutions 2H26, which is expected to be sold during the second half of 2026.
2
For the twelve and six months ended December 31, 2026, expected earnings per share utilizes weighted average shares of approximately 639 million.
3
Beginning second quarter 2026, we will exclude the full amount of pension income, including the related tax effects, from adjusted earnings per share. Prior to the second quarter 2026, we excluded only pension mark-to-market expense, including the related tax effects, from adjusted earnings per share.
4
For the twelve months ended December 31, 2026, expected acquisition-related intangibles amortization excluding spin and divestiture impact includes approximately $480 million, net of tax benefit of approximately $115 million. For the twelve months ended December 31, 2026, expected adjusted acquisition-related intangibles amortization includes $405 million, net of tax benefit of approximately $95 million. For the six months ended December 31, 2026, expected acquisition-related intangibles amortization includes approximately $205 million, net of tax benefit of approximately $45 million.
5
For the twelve months ended December 31, 2026, the expected 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 $35 million, net of tax benefit of approximately $10 million. For the six months ended December 31, 2026, the expected adjustment for acquisition-related costs, which is comprised of third-party transaction and integration costs, is approximately $10 million, without tax benefit.
6
For the twelve months ended December 31, 2026, the expected adjustment for debt restructuring costs is $230 million, net of tax benefit of $70 million.
7
For the twelve months ended December 31, 2026, the expected adjustment for ERP implementation costs is approximately $15 million, net of tax benefit of approximately $5 million. For the six months ended December 31, 2026, the expected adjustment for ERP implementation costs is approximately $10 million, without tax benefit.
8
For the twelve months ended December 31, 2026, the expected impairment charge of assets held for sale is $200 million, net of tax benefit of $63 million.
9
For the twelve months ended December 31, 2026, the expected gain on sale of personal protection equipment business is $5 million, net of tax expense of $1 million.
We define adjusted earnings per share as diluted earnings per share from continuing operations adjusted to exclude various charges as listed above. We define adjusted earnings per share excluding spin-off and divestiture impact as adjusted earnings per share less impact of adjusted earnings per share attributable to the Aerospace Technologies business, attributable to Quantinuum, and attributable to the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, which are held for sale. We believe these measures are 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, pension income or the divestiture-related costs. Pension income 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 Honeywell from Honeywell Aerospace and sales of Productivity Solutions and Services and Warehouse and Workflow Solutions. We therefore do not include an estimate for pension income or divestiture-related costs. Based on economic and industry conditions, future developments, and other relevant factors, these assumptions are subject to change.
Acquisition 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.
We define adjusted income before taxes as income before taxes from continuing operations adjusted for items presented above. We define adjusted income tax expense as income tax expense adjusted for tax impact of items presented above. We define adjusted effective tax rate as adjusted income tax expense divided by adjusted income before taxes.
We believe that adjusted effective tax rate is a non-GAAP measure that is useful to investors and management as an ongoing representation of our tax rate excluding one-off and unusual transactions. This measure can be used to evaluate our tax rate on our recurring operations. For forward looking information, we do not provide effective tax rate guidance on a GAAP basis as management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expenses and other one-off and unusual transactions.
Honeywell International Inc.
Reconciliation of Cash Provided by Operating Activities to Free Cash Flow Excluding Spin-off and Divestiture Impact
(Unaudited)
(Dollars in millions)
Twelve Months Ended December 31, 2026 (E)
Six Months
Ended
December 31,
2026(E)
Previous
Guidance
Less: Spin-
off and
Divestiture
Impact(1)
Guidance
Excluding
Spin-off and
Divestiture
Impact
Guidance
Cash provided by operating activities from continuing operations
~$4.4 – $4.7
~(2.4)
~$2.0 – $2.3
$2.2 – $2.4
Capital expenditures
~(1.3)
~0.7
~(0.6)
~(1.0)
Spin-off and separation-related cost payments
~1.8
~(1.4)
~0.4
~0.2
Settlement of Flexjet-related litigation matters
~0.4
~(0.4)
—
—
Free cash flow
~$5.3 – $5.6
~$3.5
~$1.8 – $2.1
~$1.4 – $1.6
1
The forecasted cash flows attributable to the Aerospace Technologies business are excluded due to the expected spin-off on June 29, 2026. The forecasted cash flows attributable to Productivity Solutions and Services and Warehouse and Workflow Solutions are excluded due to divestitures expected to close during the second half of 2026. The forecasted cash flows attributable to Quantinuum are excluded due to its initial public offering on June 4,2026.
We define free cash flow as cash provided by operating activities from continuing operations less cash for capital expenditures and excluding spin-off and separation-related cost payments and the cash payment for settlement of Flexjet-related litigation matters. We define free cash flow excluding spin-off and divestiture impact as free cash flow less free cash flow attributable to the Aerospace Technologies business, which is expected to spin-off on June 29, 2026, attributable to the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, which are held for sale, and attributable to Quantinuum, due to its initial public offering on June 4, 2026.
We believe that free cash flow and free cash flow excluding spin-off and divestiture impact are non-GAAP measures that are 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. These measures 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.
Contacts:
Media
Investor Relations
Stacey Jones
Mark Macaluso
(980) 378-6258
(704) 627-6118
View original content:https://www.prnewswire.com/news-releases/honeywell-reaffirms-2026-outlook-ahead-of-honeywell-aerospace-spin-off-initiates-2026-outlook-for-honeywell-technologies-302793436.html
SOURCE Honeywell
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Technology
Embolization, Inc., Presents Novel Polymer-Based Coil at VAM26, Booth No. 915
Published
55 minutes agoon
June 8, 2026By
— FDA-cleared device minimizes CT/MRI artifacts, remains radiopaque under fluoroscopy —
BOULDER, Colo., June 8, 2026 /PRNewswire/ — Embolization, Inc., will present its novel embolization device, using proprietary shape-memory biocompatible polymers to treat peripheral vasculature, June 11-12 at VAM26, Booth No. 915.
The Vascular Annual Meeting, taking place in Boston, describes itself as the premier source of education for vascular health professionals. More than 1,300 professionals from the entire vascular team have registered, with the Society for Vascular Surgery, Society for Vascular Nursing, Vascular Quality Initiative and Complex Wound Care Masterclass Workshop co-locating at the conference.
Embolization will be on hand to discuss its NED coil. Intended for arterial and venous embolization in peripheral vasculature, the novel, polymer-based coil minimizes artifacts in CT and MRI imaging that occur with traditional metal devices, according to Jim Kasic, who serves as CEO of Embolization.
FDA clearance
The NED, which has obtained FDA 501(k) clearance, is the only polymer-based coil on the market; all other available coils are metal-based. The coils, Kasic says, remain radiopaque under fluoroscopy even though the CT/MRI imaging artifact is minimal.
Kasic says that initial results show shorter occlusion times and tighter coil packs, which can result in fewer devices per procedure, lower recanalization rates and lower manufacturing costs. “The NED coil does everything a traditional metal coil does, but with a novel, radiopaque polymer.”
Limited-market release
The novel embolic coil is demonstrating success in its limited-market release, with use cases topping 70 coils in 11 cases. In all cases, across four institutions and physicians, the NED has shown consistent performance in venous and arterial applications.
“The opportunity to talk with experts at VAM, the premier source of education for vascular health professionals, is an opportunity to share what I believe represents the next generation in embolic coils,” says Kasic.
Meeting at VAM26
To schedule a meeting with Embolization’s representative at the conference, Melissa Brookshier, email melissa.brookshier@BoulderIQ.com or call 303-531-1238.
Embolization, Inc. (www.embolizationinc.com)
Embolization, Inc., is a medical device company based in Boulder, Colorado. With expertise in radiopaque shape-memory biocompatible polymers, the business specializes in the development of minimally invasive medical devices for peripheral vascular and neurovascular uses.
Media contact: Aimee Bennett, aimee@faganbusinesscommunications.com, 303-843-9840
View original content:https://www.prnewswire.com/news-releases/embolization-inc-presents-novel-polymer-based-coil-at-vam26-booth-no-915-302793012.html
SOURCE Embolization, Inc.
Technology
GlobalMed Logistix to Open Western U.S. Hub in Salt Lake City, Establishing Bi-Coastal Logistics Network Purpose-Built for Medtech
Published
55 minutes agoon
June 8, 2026By
New 75,000-square-foot facility to open in October 2026 near Salt Lake City International Airport, extending company’s national reach for medical device manufacturers
ATLANTA, June 8, 2026 /PRNewswire/ — GlobalMed Logistix (GMLx), a specialized logistics partner to the medical device industry, today announced it will open a new facility in Salt Lake City, Utah, establishing a bi-coastal distribution and logistics network purpose-built for the medtech industry. The move marks GMLx’s first major expansion since becoming a standalone company earlier this year with the backing of strategic healthcare investor Water Street Healthcare Partners.
A burgeoning medtech hub anchored by a strong life sciences ecosystem, Salt Lake City adds a strategic location to GMLx’s network of facilities. Scheduled to open in October 2026, the 75,000-square-foot facility is located in Raceway Commerce Center near Salt Lake City International Airport. It will support medtech manufacturers with a full suite of specialized services, including inventory management, order fulfillment, surgical tray and kit assembly, warehousing, reverse logistics, quality control, and tissue storage and distribution.
“Our customers do some of the most demanding work in healthcare, and they count on us to deliver every product to the right place at the right time, every time,” said Scott Vane, president and COO of GMLx, who led the expansion initiative. “A bi-coastal network sharpens our speed, reliability and precision, which brings us closer to the healthcare customers and patients our partners ultimately serve.”
The Salt Lake City facility extends a national network that today supports leading global orthopedic, spine, cardiovascular and dental manufacturers across the United States. GMLx has signed a long-term lease on the new facility and is customizing the build-out to its operational specifications.
“As medtech innovation accelerates and surgical care becomes more complex, manufacturers want a logistics partner that can scale with them,” said Patrick Daly, CEO of GMLx. “Opening our new facility in Salt Lake City extends our national reach, deepens our support for existing customers and opens the door for the next generation of medtech manufacturers looking for a partner built specifically for surgical logistics.”
GMLx will be actively recruiting for roles at the Salt Lake City facility in the coming months.
About GlobalMed Logistix
GlobalMed Logistix (GMLx) is the logistics backbone for the medical technology industry. The company specializes in managing mission-critical operations for medical device manufacturers whose high-value products require specialized handling, regulatory rigor and precise delivery timing. GMLx serves global medtech leaders and emerging innovators with real-time inventory and surgical case management, kit and tray assembly, reverse logistics, quality and compliance services, tissue storage and distribution and proprietary technology solutions — all engineered to ensure critical medical devices reach the patient safely and on time. For more information, visit gmlx.us.com.
Media Contact
Taylor Janney
Head of Marketing, GlobalMed Logistix
Taylor.Janney@gmlx.us.com
470-430-9021
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SOURCE GlobalMed Logistix (GMLx)
Technology
ENHANCED GAMES SUCCESS DRIVING SIGNIFICANT GROWTH FOR “LIVE ENHANCED” CONSUMER PLATFORM
Published
55 minutes agoon
June 8, 2026By
Athlete-Led Creative & Personal Best Messaging Validating Company’s Flywheel Strategy
NEW YORK, June 8, 2026 /PRNewswire/ — Enhanced (NYSE: ENHA), the elite sports competition and personalized performance products company drew significant global attention and marked an important step in building the company’s sports, health and performance platform. Between January and May 2026, Enhanced was featured nearly 4,000 times by independent media outlets worldwide. These publications reached a combined 16.7 billion total unique monthly visitors (UVM). In addition, global broadcast coverage delivered an estimated reach of approximately 932 million people. Combined with extensive social media engagement, the Enhanced Games reached and engaged more than one billion people worldwide and increased Enhanced’s owned-media audience by 884% compared to the prior four-month period.
Importantly, the unprecedented awareness generated by the Games is translating into measurable business results for Live Enhanced, the company’s consumer health platform. The Company is seeing materially improved marketing efficiency, providing direct evidence of the flywheel between the sports and consumer businesses.
“On May 24th, the world tuned in to watch the Enhanced Games. Now we are beginning to see that attention convert into new customers, generating revenue growth across our consumer platform,” said Maximilian Martin, CEO of Enhanced.
“As a performance marketing agency, we run campaigns for many consumer brands. Enhanced’s athlete-led campaigns are among the most efficient we have seen, consistently outperforming traditional advertising while driving exceptional engagement,” said Dean Rojas, Co-Founder of Gassed, Enhanced’s marketing partner.
Athlete-Led Content Significantly Outperforming Traditional Advertising
The defining stories of the inaugural Enhanced Games were the extraordinary personal-best performances delivered by athletes. At an average age of 30, competing athletes achieved 21 personal bests, with many surpassing marks they had set a decade or more earlier.
For example, Megan Romano set her previous personal best in the 50m freestyle (24.98) on July 16, 2013. Nearly 13 years later, at the inaugural Enhanced Games, she broke it with a 24.55. She is now performing better than she did in her early twenties after only a few months of enhanced training. Her result shows what is possible with medical enhancement and has made her the blueprint for aging on her own terms.
“Not only am I in the best shape of my life, but I also feel better and happier than ever before,” said Romano. “I am incredibly grateful for the support I have received from Enhanced and my message to everyone is simple: strive every day to become the best version of yourself. Don’t let your twenties be the best years of your life. Make sure your thirties, forties, and beyond are even better. The products and services available through the Live Enhanced telehealth platform can be powerful tools to help you get there. I encourage everyone to try it for themselves.”
These stories of recovery, longevity, resilience, and renewed performance are resonating strongly with consumers and are emerging as a powerful driver of engagement for Live Enhanced. The company has found that athlete-led creative is materially outperforming traditional non-athlete advertising across key marketing metrics, including engagement and conversion.
Creating a New Category at the Intersection of Sports, Health, and Longevity
Enhanced believes it is establishing a unique position within the consumer health landscape. While much of the direct-to-consumer health industry focuses on helping customers recover from a problem, e.g. weight gain, hair loss, or other conditions and get them back to their baseline, Live Enhanced is designed for individuals seeking to optimize performance beyond their baseline in the areas of recovery, longevity, vitality, and overall health.
“Our customers are not simply looking to restore lost health. They are looking to maximize human potential and become the healthiest, strongest, and most resilient versions of themselves,” said Martin. “We believe this represents a distinct category within consumer health, and one we intend to lead.”
Sports Business Already Demonstrating Significant Commercial Potential
The company emphasizes that the Enhanced Games are not merely a marketing vehicle for Live Enhanced. The sports business is designed to become a substantial standalone business in its own right, generating revenue from sponsorships, media rights, events, and related commercial opportunities.
Even in its inaugural year, when many big brands held back because of the controversial concept, the company secured approximately $32 million of sponsorship contract value, with a growing pipeline of brands expressing interest following the inaugural Games. Management believes sponsorship demand will accelerate meaningfully as a result of the event’s unprecedented reach and engagement. The company intends to announce additional events and initiatives throughout the year as it continues building what it believes can become one of the world’s most valuable sports and performance brands.
“I believe the combination of our exciting and scaling sports franchise which engaged more than one billion people globally and drove meaningful sponsorship revenue in year one, with our Live Enhanced consumer platform that is showing strong customer demand and could potentially benefit from product expansion through regulatory tailwinds in the peptide space, creates a powerful foundation for long-term growth for Enhanced,” added Martin. “We are encouraged by the average order size of new customers in their first order, an early signal we believe demonstrates that the Enhanced brand is resonating and deemed trustworthy, a key consumer consideration when it comes to personal healthcare. Our inaugural Games were not the culmination of our vision, but merely the beginning of how we intend to scale both businesses.”
The Company expects to provide a more fulsome update on the Live Enhanced platform with its Q2 results, expected in mid-August.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “expect,” “estimate,” “intend,” “plan,” “strategy,” “future,” “opportunity,” “will,” “may,” “could,” “should,” and similar expressions. Forward-looking statements in this press release include, but are not limited to, statements regarding: the level and durability of consumer demand for the Live Enhanced platform; the relationship between Enhanced Games performances and consumer conversion; advertising and marketing performance metrics; order value and customer spending metrics; the Company’s flywheel model; and the Company’s plans for future segment disclosure.
Conversion, order value, and related operating metrics referenced herein are preliminary, unaudited, reflect a limited early operating period, and are not necessarily indicative of future performance. Such metrics are not measures defined under U.S. GAAP and should not be interpreted as revenue or as a substitute for GAAP measures.
These forward-looking statements are based on management’s current expectations and assumptions and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially. Factors that could cause actual results to differ materially include, but are not limited to, those described in the Company’s filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section of the Company’s Registration Statement on Form S-4 (as amended) and any subsequent filings, available at www.sec.gov and on the Company’s investor relations website.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statement, except as required by applicable law.
About Gassed
Gassed is a creative and performance marketing agency that builds and scales paid-media programs for high-growth consumer brands, including direct-to-consumer health, wellness, and telehealth. The agency combines in-house creative production with proprietary analytics across Meta, YouTube, TikTok, and other platforms to drive efficient customer acquisition. Gassed’s founders include early operators behind the rise of Dr. Squatch.
About Enhanced Group, Inc.
Enhanced (NYSE: ENHA) is an elite sports competition and performance products company committed to giving athletes and people alike access to products that optimize their health, performance and recovery. The Live Enhanced platform provides consumers access to products, and protocols that optimize health, longevity and vitality. As a premium brand, Enhanced aims to revolutionize and lead the Performance Medicine category. For more information about mission of Enhanced please visit www.enhanced.com
About The Enhanced Games
The Enhanced Games champion scientific innovation and integrity in elite sporting competition. Enhanced believes in an objective, evidence-based approach to competition, one that celebrates athletic excellence and unlocks athletes’ full potential. The Enhanced Games is a sporting event that is thrilling for spectators but also a beacon for scientific transparency and athlete welfare. By putting athletes first, gives them the opportunity to reach their full potential and be compensated accordingly, all while ensuring their safety through rigorous medical supervision and scientific oversight. The inaugural Enhanced Games occurred on May 24, 2026 at a purpose-built competition complex at Resorts World Las Vegas. The Games offered unprecedented financial incentives to athletes.
Investor Contact
Asia Gilbert, Head of Investor Relations
Enhanced Group, Inc. investors@enhanced.com
Media Contact
Chris Jones, Chief Communications Officer
Enhanced Group, Inc. media@enhanced.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/enhanced-games-success-driving-significant-growth-for-live-enhanced-consumer-platform-302793545.html
SOURCE Enhanced
Embolization, Inc., Presents Novel Polymer-Based Coil at VAM26, Booth No. 915
GlobalMed Logistix to Open Western U.S. Hub in Salt Lake City, Establishing Bi-Coastal Logistics Network Purpose-Built for Medtech
ENHANCED GAMES SUCCESS DRIVING SIGNIFICANT GROWTH FOR “LIVE ENHANCED” CONSUMER PLATFORM
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