Honeywell International Inc

HON: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Honeywell Earnings: Mixed Results From Conglomerate Structure Support Suggestion for Separation

Nicholas Lieb

Feb 6, 2025

Honeywell reported fourth-quarter and full-year 2024 earnings the morning of Feb. 6, along with confirmation that management plans on separating Honeywell into three standalone businesses in 2026: aerospace, automation, and advanced materials. On a consolidated basis, revenue grew 5% and slightly depressed operating margins drove 3% earnings per share growth. We’re raising our fair value estimate to $200 from $197 to reflect the time value of money.

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Honeywell International Inc

Honeywell Earnings: Mixed Results From Conglomerate Structure Support Suggestion for Separation

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