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Honeywell International 8-K Report, Financial Results (Apr 23, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed April 23, 2026
Period End
April 23, 2026
Security
HON
In the record · 2016–202610-K1110-Q348-K196

HON filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 196 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Aug ’16Aug ’16
  2. Material agreement8-K · Apr ’19Apr ’19
  3. Leadership change8-K · Jul ’21Jul ’21
  4. Leadership change8-K · May ’25May ’25

01—Abstract

Summary

Summary of the 8-K filed April 23, 2026. Cited figures are marked; the original filing is the authoritative source.

Honeywell (HON) reported first-quarter 2026 results on April 23, 2026 with sales of $9.1 billiona, up 2% on both reported and organic bases, and orders up 7% organically, lifting backlog to about $38.3 billion.

Operating income fell 14% to $1.47 billionb and operating margin contracted 320 basis points to 16.1%, driven mainly by a $263 million impairment on assets held for sale (PSS and WWS) and higher repositioning and divestiture costs. Excluding these items, segment profit rose 6% to $2.1 billion and segment margin expanded 90 basis points to 23.3%. GAAP EPS was $1.29, down 35%, reflecting debt restructuring charges ($239 million loss on debt extinguishment), impairments, and separation costs.

Adjusted EPS rose 11% to $2.45c. Cash flow was weak: operating cash flow from continuing operations was negative $650 million, and free cash flow was $56 million, down 71%, due to spin-off and separation payments, a Flexjet litigation settlement payment, and timing of collections partly tied to the Middle East conflict. Management reaffirmed full-year 2026 sales guidance of $38.8-39.8 billion, adjusted EPS of $10.35-10.65, and free cash flow of $5.3-5.6 billion, while cutting its operating cash flow outlook to $4.4-4.7 billion from $4.7-5.0 billion.

Strategically, Honeywell agreed to sell its Warehouse and Workflow Solutions business to American Industrial Partners, following the April 20 announcement of the Productivity Solutions and Services sale to Brady Corporation. Both deals are expected to close in the second half of 2026. The Honeywell Aerospace spin-off (ticker HONA) is now targeted for June 29, 2026, subject to board approval, which would complete the multi-year portfolio transformation.

02—Key points

Key Highlights

  1. Net sales of $9,143M, up 2% reported and organically; Building Automation led with 8% organic growth, while Process Automation and Technology declined 6% organically.
  2. Orders grew 7% organically, with backlog up 2% sequentially to about $38.3B, supported by strong demand in Building and Industrial Automation.
  3. GAAP EPS of $1.29 (down 35%) versus adjusted EPS of $2.45 (up 11%); the gap reflects a $239M debt extinguishment loss, a $263M asset impairment, and divestiture and separation costs.
  4. Segment margin expanded 90 bps to 23.3%, aided by pricing and earlier removal of stranded costs tied to the aerospace spin-off, partly offset by cost inflation.
  5. Operating cash flow was negative $650M and free cash flow was $56M, down 71%, driven by separation payments, a $377M Flexjet settlement payment, and collection timing.
  6. Full-year guidance maintained for sales, adjusted EPS and free cash flow, but operating cash flow guidance lowered to $4.4-4.7B from $4.7-5.0B.
  7. Divestitures of PSS (to Brady) and WWS (to AIP, ~$935M 2025 revenue) are expected to close in 2H 2026; Honeywell Aerospace spin-off targeted for June 29, 2026.

03—Questions

Frequently Asked Questions

  1. Why did GAAP earnings fall so sharply while adjusted earnings rose?

    GAAP EPS of $1.29 was hit by non-recurring items including a $239M loss on debt extinguishment tied to debt restructuring (about $0.35 per share), a $263M impairment of assets held for sale (about $0.31 per share), and roughly $0.31 per share of divestiture-related costs. Adjusted EPS of $2.45 excludes these items and reflects segment profit growth and a lower share count.

  2. Is Honeywell's full-year 2026 outlook changing?

    Sales ($38.8-39.8B), organic growth (3-6%), segment margin (22.7-23.1%), adjusted EPS ($10.35-10.65) and free cash flow ($5.3-5.6B) guidance were maintained. Operating cash flow guidance was lowered to $4.4-4.7B from $4.7-5.0B, reflecting the Q1 cash outflow and Middle East related collection delays.

  3. Why was cash flow negative in the quarter?

    Operating cash flow was negative $650M because of higher spin-off and separation-related payments, a Flexjet litigation settlement payment, and a build in accrued liabilities and receivables. Management attributed part of the weaker collections to the Middle East conflict, and the company expects these to be timing-related.

  4. What do the divestitures mean for Honeywell's portfolio?

    Honeywell is selling Productivity Solutions and Services (to Brady Corporation) and Warehouse and Workflow Solutions (to American Industrial Partners), both expected to close in 2H 2026. The sales are part of the simplification of the company ahead of the Honeywell Aerospace spin-off and leave the automation business focused on building and industrial automation and process technology. Terms of the WWS transaction were not disclosed.

  5. When and how will the Honeywell Aerospace spin-off happen?

    The spin-off is now expected on June 29, 2026, subject to final Board approval and customary conditions. Honeywell Aerospace will trade on Nasdaq under the ticker HONA. Investor days are scheduled for June 3, 2026 (Aerospace, Phoenix) and June 11, 2026 (automation, New York).

04—Continue

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