CHARLOTTE – Honeywell’s latest earnings are out. The following graphic details the financials for 2022. Here’s what its CEO had to say about the performance.
“Honeywell delivered a strong finish to another challenging year, meeting our original guidance for the year despite significant headwinds from FX [foreign exchange] and the wind down of our operations in Russia,” said Darius Adamczyk, chairman and chief executive officer of Honeywell.
“We also met our latest guidance for all metrics in the fourth quarter. Organic sales growth of 10% in the quarter was underpinned by double-digit growth in our commercial aviation, building products, advanced materials, and UOP businesses. Our disciplined cost management enabled us to expand segment margin by 150 basis points, led by 940 basis points of margin expansion in Safety and Productivity Solutions to 20.2%, the highest ever segment margin for that business. Our strong balance sheet allowed us to execute on our capital deployment strategy once again, deploying $2.3 billion in the quarter, including $1.4 billion in share repurchases to fulfill our 2022 share repurchase commitment from our March Investor Day.”
Read the full financial report: https://honeywell.gcs-web.com/static-files/d25074a2-d638-4de7-aea8-4edb3675dd6a
See the full graphic report at: https://honeywell.gcs-web.com/static-files/012793e3-c732-4e26-9f79-cdac66c7025f
Honeywell image
