Financial Release

CHARLOTTE, N.C., March 3, 2022 /PRNewswire/ -- Honeywell (NASDAQ: HON) will host its annual investor conference at the company's Charlotte, N.C., headquarters today. The leadership team will provide details on the company's strategic priorities that will drive the next phase of growth led by accelerating transformation efforts, major breakthrough initiatives, increasing software and recurring sales mix, and end-market tailwinds.

The company will speak with investors today about the following:

• The strength of the Honeywell Value Creation Framework
• Anticipated growth acceleration and enhanced margin expansion
• Upgrades to the company's long-term financial framework, combined with higher capital deployment commitments
• An even stronger alignment to improved environmental, social, and governance outcomes and disclosures
• Reaffirming first quarter and full-year 2022 guidance

"While 2021 was another difficult year as we navigated through the prolonged pandemic and significant supply chain challenges, our relentless focus on operational execution, value creation framework, and investments in disruptive technologies have positioned us well to address the world's increasing demand for digital transformation, process technology, and sustainable solutions," Adamczyk said. "Today, we turn our focus to the next phase of Honeywell's growth, including driving innovation that builds on our long-standing expertise in controls, automation, and software, and successful breakthrough initiatives, such as Quantinuum and Sustainable Technology Solutions, which have now graduated into freestanding, high-growth businesses.

"Looking ahead, our rigorous operating principles, end market tailwinds in higher margin businesses, and increasing impact of innovation will drive higher margin expansion off of a structurally lower fixed cost base," continued Adamczyk. "We have a track record of disciplined, high-return capital deployment, and we are increasing our capital deployment commitments to achieve faster growth and innovation, while delivering significant value to our shareholders, now and in the future."

Adamczyk added, "Importantly, we recognize the crucial role we play in enabling the energy transition, and we will continue to lead that evolution as our investment priorities remain focused on innovative solutions that improve environmental and social outcomes for customers. Building on that strong foundation, we intend to strengthen our overall ESG commitments during our discussion today.

"We are raising our long-term financial framework, including our organic growth, margin expansion, and long-term segment margin targets, to reflect our confidence in Honeywell's ability to accelerate growth and deliver value for shareholders. This is an exciting time to be part of Honeywell, whether you are an employee, a customer, or a shareowner," Adamczyk concluded.

Presentation materials and webcast information for the Honeywell investor conference, including a replay of the webcast following the event, will be available at www.honeywell.com/investor.

Honeywell (www.honeywell.com) is a Fortune 100 technology company, which delivers industry-specific solutions including: aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

Honeywell uses our Investor Relations website, www.honeywell.com/investor, as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this presentation are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, technological, and COVID-19 public health factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, and other developments, including the potential impact of the COVID-19 pandemic, and business decisions may differ from those envisaged by such forward-looking statements. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

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SOURCE Honeywell