Honeywell Profit Declines Amid Ongoing Restructuring
Time:2026-04-24 Browse: 3
April 2026 — Honeywell International Inc. is continuing its business restructuring, planning to spin off its aerospace division in June and has reached an agreement to sell its warehouse and workflow solutions business to American Industrial Partners.
The latest developments coincide with a decline in the industrial group’s first-quarter profit, impacted by debt restructuring costs, impairments on assets held for sale, and other spin-off-related expenses.
In pre-market trading on Thursday, Honeywell shares fell 7.6% to $203.23.
The company stated it plans to complete the spin-off of Honeywell Aerospace on June 29, pending final board approval and customary closing conditions. The spin-off had previously been scheduled for the third quarter.
At the same time, Honeywell announced that it has agreed to sell its warehouse and workflow solutions business to private equity firm American Industrial Partners. The transaction is expected to close in the second half of 2026, with financial terms undisclosed.
Earlier this week, Honeywell also agreed to sell its Productivity Solutions and Services business to Brady Corporation for $1.4 billion.
For the three months ending March 31, Honeywell reported net income of $821 million, or $1.29 per share, compared with $1.45 billion, or $2.22 per share in the same period last year.
Excluding one-time items, adjusted earnings per share were $2.45, exceeding the FactSet analyst consensus of $2.32.
Revenue increased slightly by 2.4% to $9.14 billion, falling short of Wall Street expectations of $9.3 billion.
