8-KEarnings & ResultsExhibits & Filings

HONEYWELL INTERNATIONAL INC 8-K Report, Financial Results (Oct 6, 2016)

Filed October 6, 2016For Securities:HONHONIV

Summary

Honeywell International Inc. (HON) filed an 8-K on October 6, 2016, primarily announcing updates regarding its business segment realignment and providing guidance revisions. The company has restructured its Automation and Control Solutions (ACS) segment into two new segments: Home and Building Technologies (HBT) and Safety and Productivity Solutions (SPS). This change, effective with the quarter ending September 30, 2016, aims to provide a clearer reporting structure, with Honeywell now operating under four main segments: Aerospace, HBT, Performance Materials and Technologies, and SPS. This realignment is a non-cash event and does not impact historical consolidated financial statements, but the company has provided recast historical segment information to reflect the new structure.

Key Highlights

  • 1Honeywell has reorganized its business segments, creating Home and Building Technologies (HBT) and Safety and Productivity Solutions (SPS) from the former Automation and Control Solutions (ACS) segment.
  • 2The company has updated its financial guidance for the quarters ending September 30, 2016, and December 31, 2016, as well as for the full year ending December 31, 2016.
  • 3Recast historical segment information is provided to align with the new reporting structure, which includes four primary segments: Aerospace, HBT, Performance Materials and Technologies, and SPS.
  • 4The business segment realignment is effective for reporting periods beginning with the quarter ending September 30, 2016.
  • 5The realignment has no impact on Honeywell's historical consolidated financial position, results of operations, or cash flows.
  • 6Exhibit 99.1 contains supplemental unaudited historical business segment information.
  • 7Exhibit 99.2 is a press release dated October 6, 2016, announcing these updates.

Frequently Asked Questions

This 8-K filing primarily announces Honeywell's reorganization of its business segments and provides updated financial guidance for upcoming periods. It details the creation of two new segments, Home and Building Technologies (HBT) and Safety and Productivity Solutions (SPS), from the former Automation and Control Solutions (ACS) segment.

The segment realignment itself does not impact Honeywell's historical consolidated financial position, results of operations, or cash flows. The company has provided recast historical segment information to allow for consistent comparison under the new structure, which now comprises four main segments.

The filing indicates that Honeywell issued a press release on October 6, 2016, announcing updates to its guidance for the quarters ending September 30, 2016, and December 31, 2016, as well as for the full year ending December 31, 2016. The specific details of the guidance are available in the press release furnished as Exhibit 99.2.

Following the realignment, Honeywell now reports under four business segments: Aerospace, Home and Building Technologies (HBT), Performance Materials and Technologies, and Safety and Productivity Solutions (SPS).