CHARLOTTE, N.C., June 8, 2026 /PRNewswire/ -- Honeywell $(HON)$ 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 organic(1) sales growth in the range of 3% to 6%. Segment margin(2) is expected to be 22.7% to 23.1%, with segment margin(2,5) expansion of 20 to 60 basis points. Adjusted earnings per share(3) 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 flow(1,4) 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 organic(1) sales growth in the range of 2% to 3%. Segment margin(2) is expected to be 19.8% to 20.3%, with segment margin(2) expansion of 220 to 270 basis points. Adjusted earnings per share(3) is expected to be $3.95 to $4.15, up 22% to 28%. Finally, the company expects free cash flow(1,4) 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 Guidance(1)
2H 2026 Guidance
Prior Guidance (Honeywell 2026 Guidance (Honeywell (Honeywell
International) Technologies) Technologies)
------------ ------------------------------- ------------------------- -------------------------
Sales $38.8B - $39.8B $19.9B - $20.2B $10.1B - $10.3B
------------ ------------------------------- ------------------------- -------------------------
Organic(1)
Growth 3% - 6% 2% - 3% 3% - 5%
------------ ------------------------------- ------------------------- -------------------------
Segment
Margin 22.7% - 23.1% 19.8% - 20.3% 20.9% - 21.6%
------------ ------------------------------- ------------------------- -------------------------
Expansion 20 - 60 bps(5) 220 - 270 bps 310 - 380 bps
------------ ------------------------------- ------------------------- -------------------------
Adjusted
Earnings Per
Share(3) $10.35 - $10.65 $3.95 - $4.15 $2.20 - $2.35
------------ ------------------------------- ------------------------- -------------------------
Adjusted
Earnings
Growth(3) 6% - 9% 22% - 28% 22% - 31%
------------ ------------------------------- ------------------------- -------------------------
Operating
Cash Flow $4.7B - $5.0B $2.1B $2.3B
------------ ------------------------------- ------------------------- -------------------------
Free Cash
Flow(1,4) $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
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