HONEYWELL INTERNATIONAL INC Annual Report, Year Ended Dec 31, 2024

Honeywell International Inc. reported a strong fiscal year 2024, with net sales increasing by 5% to $38.5 billion, driven by robust performance in three of its four segments, particularly Aerospace Technologies which saw double-digit growth. The company demonstrated a commitment to portfolio transformation through significant capital deployment, including four acquisitions totaling $9 billion and strategic divestitures of non-core businesses. Key acquisitions like Carrier Global Corporation's Global Access Solutions, CAES Systems Holdings LLC, and Air Products' LNG business are expected to bolster growth in their respective segments. Looking ahead, Honeywell announced significant strategic moves, including the planned spin-off of its Advanced Materials business and the separation of its Automation and Aerospace Technologies businesses into independent, publicly traded companies. These actions aim to create three distinct industry-leading entities focused on core strengths. The company also highlighted a robust backlog of $35.3 billion as of December 31, 2024, providing a strong foundation for future growth and continued capital deployment, including opportunistic share repurchases and dividend increases.