Honeywell to reorganize business in bid for improved sales growth

An earlier version of this story incorrectly categorized Honeywell’s new business segments. The company is reorganizing around three themes into four business units. The story has been corrected.

Honeywell International Inc. plans to reorganize its business in a bid to improve sales growth, the company said Tuesday.

The new segments will aligned around the themes of automation, the future of aviation and energy transition, Honeywell said in a release. It plans to introduce four reporting segments: aerospace technologies, industrial automation, building automation and energy and sustainability solutions.

The company expects that the change “will enable Honeywell to deliver accelerated organic sales growth and inorganic capital deployment, creating greater value for shareholders,” according to a release.

Chief Executive Vimal Kapur added in the release that the new structure will let Honeywell
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“realize synergies that will accelerate our innovation playbook.”

Honeywell also said Tuesday that it expects “strong” third-quarter sales in line with its previously issued outlook. The company anticipates that earnings per share will fall within or above the range executives previously offered.

The company said on its last earnings call that it expected third-quarter sales of $9.1 billion to $9.3 billion and adjusted earnings per share of $2.15 to $2.25.

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