Honeywell International Inc. · NASDAQ:HON
Honeywell International — Q2 2026 Earnings Presentation
36 slides from Honeywell International's earnings presentation, Jul 23, 2026
Slide 1: Second Quarter 2026 Earnings Presentation
Second Quarter 2026 Earnings Presentation July 23, 2026 2Q 2026 Earnings – July 23, 2026
Slide 2: Forward-looking statements and Non-GAAP financial measures
Forward-looking statements Non-GAAP financial measures We describe many of the trends and other factors that drive our business and future results in This presentation contains financial measures presented on a non-GAAP basis. Honeywell this presentation. Such discussions contain forward-looking sta
Slide 3: Honeywell Technologies | Basis of presentation
Honeywell Technologies | Basis of presentation Information in this presentation reflects results and guidance for Honeywell Technologies Results of former Aerospace Technologies segment are excluded from all historical and future periods Adjusted results for all historical periods have been recast t
Slide 4: Key messages
Key messages 01 Launched Honeywell Technologies’ 2029 three-year financial targets 02 Delivered strong 2Q results; improved second half outlook driven by Process Automation & Technologies (PA&T) and Industrial Automation (IA) 03 Raising full-year organic sales, segment margin and EPS guidance 04 Clo
Slide 5: 2026 Investor Day | Introducing Honeywell Technologies
2026 Investor Day | Introducing Honeywell Technologies Key Takeaways • Transformed into a pure-play automation leader positioned to lead the industry’s transition from automation to autonomy • Clear path to durable growth and margin expansion – Growing and activating installed base in mission-critic
Slide 6: 2026 Investor Day | Three-year financial targets
2026 Investor Day | Three-year financial targets Organic growth: 4% - 6% Segment margin: ~24% Adjusted EPS: ~$12.00 Free Cash Flow: >$3B ~15% annual recurring ~60 bps average annual 10%+ annual adj. EPS growth 90%+ conversion software revenue growth segment margin expansion Durable growth Operationa
Slide 7: Acquisition of Johnson Matthey Catalyst Technologies
Acquisition of Johnson Matthey Catalyst Technologies Strategic rationale Business addition provides complementary technology that creates value-add, end-to-end solutions for customers Catalyst Technologies Aligns with existing verticals serving growing energy markets Closed July 17 for £1.325 billio
Slide 8: Honeywell Technologies | 2Q 2026 orders growth acceleration
Honeywell Technologies | 2Q 2026 orders growth acceleration Orders by quarter 2Q commentary 12% 30% • Double-digit short-cycle orders growth in all segments, driving total 25% orders up 16% organically 10% 20% • PA&T orders up 24% organically driven by surging LNG and gas 17% processing demand globa
Slide 9: Honeywell Technologies | 2Q 2026 financial summary
Honeywell Technologies | 2Q 2026 financial summary Sales Segment Margin* Adjusted EPS* Free Cash Flow* Up 4% Organic* Up 100 bps Up 10% ~4x increase 19.0% $1.95 $5.2B 18.0% $1.77 $0.5B $5.0B $0.1B 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 + Seventh consecutive quarter of HSD + Productivity + 9% segmen
Slide 10: Honeywell Technologies | 2Q 2026 adjusted EPS bridge
Honeywell Technologies | 2Q 2026 adjusted EPS bridge $0.12 $0.01 ($0.16) + Share count $0.21 319M vs. 320M + Lower net interest Up 10% expense - Higher adjusted effective tax rate* - Increased as expected repositioning expense + Strong segment profit growth in BA $1.77 + Pricing and productivity, $1
Slide 11: Honeywell Technologies | Revised 2026 Guidance
Honeywell Technologies | Revised 2026 Guidance Prior 2026 Guidance 2026 Guidance 3Q26 Guidance 4Q26 Guidance Commentary • Raising full-year organic growth, segment margin and adjusted EPS estimates Sales1 $19.9B - $20.2B $19.8B - $20.0B $4.9B - $5.0B $5.0B - $5.1B Organic growth* 2% - 3% 3% - 4% 4%
Slide 12: Honeywell Technologies | FY 2026 adjusted EPS bridge
Honeywell Technologies | FY 2026 adjusted EPS bridge (vs. prior 2026 guidance) $0.03 ($0.13) $0.17 $0.03 Up 27% - Loss of operating + Driven by debt YoY income from PSS paydown from + Stronger segment profit and WWS due to divestiture proceeds $8.10 +$0.17 + Below the line +$0.02; accelerated closin
Slide 13: Why own Honeywell Technologies?
Why own Honeywell Technologies? 01 A transformed and simplified Honeywell portfolio 02 Differentiated pure-play, global automation leader benefitting from secular tailwinds 03 Portfolio mix and business model approach enabling 10%+ annual adjusted earnings growth with 90%+ free cash flow conversion
Slide 14: Appendix
Appendix 2Q 2Q2026 2026Earnings Earnings––July July23, 23,2026 2026
Slide 15: Who we are
Who we are Global pure-play automation company delivering mission-critical outcomes for our customers ~$17B 1 ~$4B ~22% Sales* Segment Profit*2 Segment Margin*2 >10% 7% 14% 37% ~40% Sales 1 42% Monetize Sales1 Grow Sales1 43% by segment installed ~30% by business installed by region base model base
Slide 16: 2Q 2026 segment results
2Q 2026 segment results Segment Margin* ($M) Sales Commentary change (bps) • Orders up 13%; double-digit growth in data center and hospitality verticals; book-to-bill ~1.1x Building $2,002 27.1% Automation • Sales momentum across all regions led by strength in Americas, India and the Middle East Up
Slide 17: 2Q 2026 sales growth
2Q 2026 sales growth 2Q Reported 2Q Organic* Building Automation 10% 9% Products 11% 10% Solutions 8% 7% Process Automation & Technology 4% (1%) Aftermarket (2%) (6%) Projects 13% 5% Industrial Automation (5%) 4% Products (11%) 1% Solutions 11% 10% *Non-GAAP financial measure 2Q 2026 Earnings – July
Slide 18: Additional 2026 inputs
Additional 2026 inputs 2025 Prior 2026 guide 2026E 2Q26 Results 3Q262Q26 Guidance 4Q263Q26E Guidance Stranded cost, net of N/A ~($220M) ~($205M) N/A N/A N/A trademark benefit Corporate costs N/A ~($400M) ~($400M) N/A N/A N/A Total Corporate1 ($884M) ~($620M) ~($605M) ($187M) ~($130M) ~($135M) Reposi
Slide 19: Historical sales growth by business model
Historical sales growth by business model FY23 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 2Q26 Building Automation Sales ($M) $6,031 $1,426 $1,571 $1,745 $1,798 $6,540 $1,692 $1,826 $1,878 $1,971 $7,367 $1,882 $2,002 Organic Growth (%)* - (3%) 1% 3% 7% 2% 8% 8% 7% 8% 8% 8% 9% Products Sa
Slide 20: 2Q 2026 Earnings – July 23, 2026
2Q 2026 Earnings – July 23, 2026
Slide 21: Appendix Non-GAAP Financial 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 reconciliations are attached to the most directly comparable financial measures calculated and presented in accordan
Slide 22: Reconciliation of Organic Sales Percent Change
Reconciliation of Organic Sales Percent Change 2Q26 2Q26 Total Honeywell Process Automation and Technology Reported sales percent change 4% Reported sales percent change 4% Less: Impact of divestitures to the prior period (2)% Less: Impact of divestitures to the prior period —% Reported sales percen
Slide 23: Reconciliation of Recast Historical Organic Sales Percent Change
Reconciliation of Recast Historical Organic Sales Percent Change 1Q24 2Q24 3Q24 4Q24 2024 1Q25 2Q25 3Q25 4Q25 2025 1Q26 Building Automation Reported sales percent change (4)% 4% 14% 19% 8% 19% 16% 8% 10% 13% 11% Less: Impact of divestitures to the prior period —% —% —% —% —% —% —% —% —% —% —% Report
Slide 24: Reconciliation of Net Sales to Honeywell Technologies Net Sales
Reconciliation of Net Sales to Honeywell Technologies Net Sales 2Q26 2Q25 Net sales 9,719 9,322 Less: Separation Adjustments1 4,532 4,307 Honeywell Technologies Net sales $5,187 $ 5,015 1 Includes the financial results of the Honeywell Aerospace business which will be reflected as discontinued opera
Slide 25: Reconciliation of Net Sales to Segment Sales Excluding Spin-off and Divestiture Impact
Reconciliation of Net Sales to Segment Sales Excluding Spin-off and Divestiture Impact ($M) 2025 Honeywell Net sales $ 37,442 Less: Net sales attributable to Quantinuum 30 Segment sales 37,412 Less: Net sales attributable to Aerospace Technologies 17,510 Less: Net sales attributable to Productivity
Slide 26: Reconciliation of Operating Income to Segment Profit and Adjusted Segment Profit
Reconciliation of Operating Income to Segment Profit and Adjusted Segment Profit, Calculation of Operating Income, Segment Profit, and Adjusted Segment Profit Margins 2Q25 3Q25 4Q25 2025 Less: Less: Less: Less: Separation Honeywell Separation Honeywell Separation Honeywell Separation Honeywell ($M)
Slide 27: Reconciliation of Operating Income to Segment Profit and Adjusted Segment Profit
Reconciliation of Operating Income to Segment Profit and Adjusted Segment Profit, Calculation of Operating Income, Segment Profit, and Adjusted Segment Profit Margins 2Q26 Less: Separation Honeywell ($M) Honeywell Adjustments1 Technologies Operating income $ 1,737 $ 1,075 $ 662 Stock compensation ex
Slide 28: Reconciliation of Operating Income to Segment Profit Excluding Spin-off and Divestiture Impact
Reconciliation of Operating Income to Segment Profit Excluding Spin-off and Divestiture Impact, Calculation of Segment Profit Margin Excluding Spin-off and Divestiture Impact 2025 Excluding Spin-off Less: Spin-off and and Divestiture ($M) Honeywell Divestiture Impact1 Impact Operating income $ 5,573
Slide 29: Reconciliation of EPS to Adjusted EPS
Reconciliation of EPS to Adjusted EPS 2Q26 2Q25 Less: Separation Honeywell Less: Separation Honeywell Honeywell Adjustments1 Technologies Honeywell Adjustments1 Technologies Earnings per share of common stock from continuing operations - diluted2 $ 17.83 $ 1.18 $ 16.65 $ 4.33 $ 3.12 $ 1.21 Pension i
Slide 30: Reconciliation of EPS to Adjusted EPS
Reconciliation of EPS to Adjusted EPS 3Q25 3Q26E Less: Separation Honeywell Honeywell Adjustments1 Technologies Guidance Earnings per share of common stock from continuing operations - diluted2 $ 5.91 $ 2.92 $ 2.99 $1.75 - $1.90 Pension income3 (0.36) (0.18) (0.18) No Forecast Amortization of acquis
Slide 31: Reconciliation of EPS to Adjusted EPS
Reconciliation of EPS to Adjusted EPS 4Q25 4Q26E Less: Separation Honeywell Honeywell Adjustments1 Technologies Guidance Earnings per share of common stock from continuing operations - diluted2 $ (0.30) $ 1.47 $ (1.77) $1.93 - $2.08 Pension income3 (0.02) (0.24) 0.22 No Forecast Amortization of acqu
Slide 32: Reconciliation of EPS to Adjusted EPS
Reconciliation of EPS to Adjusted EPS FY2025 2026E Less: Separation Honeywell Honeywell Honeywell Adjustments1 Technologies Technologies Earnings per share of common stock from continuing operations - diluted2 $ 13.88 $ 10.64 $ 3.24 $21.05 - $21.35 Pension income3 (0.91) (0.78) (0.13) No Forecast Am
Slide 33: Reconciliation of EPS to Adjusted EPS
Reconciliation of EPS to Adjusted EPS 1 Includes the financial results of the Honeywell Aerospace business which will be reflected as discontinued operations in the third quarter. These financial results may differ from Aerospace Technologies financial information due to the perimeter of the transac
Slide 34: Reconciliation of Effective Tax Rate to Adjusted Effective Tax Rate
2025 Reconciliation of Effective Tax Rate to Adjusted Effective Tax Rate Less: Separation Honeywell ($M) Honeywell Adjustments1 Technologies Income before taxes $ 5,476 $ 4,171 $ 1,305 Acquisition-related intangibles amortization 570 61 509 Acquisition-related costs 45 — 45 Divestiture-related costs
Slide 35: Reconciliation of Effective Tax Rate to Adjusted Effective Tax Rate
Reconciliation of Effective Tax Rate to Adjusted Effective Tax Rate 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 items presented above. We define a
Slide 36: Reconciliation of Cash Provided by Operating Activities to Free Cash Flow
Reconciliation of Cash Provided by Operating Activities to Free Cash Flow 2Q26 2Q25 2026E Less: Less: Separation Honeywell Separation Honeywell Honeywell ($M) Honeywell Adjustments1 Technologies Honeywell Adjustments1 Technologies Technologies Cash provided by operating activities from continuing op
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