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SEC filingHoneywell Technologies reported Q2 results with consolidated revenue up 4% to $9.7B, and raised full-year guidance for organic growth and adjusted EPS.
Honeywell Technologies delivered solid Q2 results, reflecting the successful spin-off of Honeywell Aerospace on June 29. On a consolidated basis (including Aerospace for the full quarter), revenue grew 4% to $9.7B, with organic growth also 4%. Operating margin contracted 190 bps to 17.9% due to spin-off costs, but segment margin improved 30 bps to 23.1%. GAAP EPS of $17.83 was boosted by a $15.87 gain from deconsolidation of Quantinuum; adjusted EPS of $4.52 missed last year's $4.72 due to higher adjusted items.
Honeywell Technologies standalone revenue grew 3% reported and 4% organic to $5.2B. Segment margin expanded 100 bps to 19.0%, driven by Building Automation (9% organic growth, margin up 90 bps to 27.1%) and Industrial Automation (4% organic growth, margin up 90 bps to 17.2%). Process Automation and Technology declined 1% organically, with margin down 180 bps to 22.1% due to lower catalyst volumes. Orders were strong: Building Automation orders up 13%, Process orders up 24%, and Industrial orders up 16%.
Management raised full-year guidance: organic growth now 3-4% (from 2-3%), adjusted EPS $8.05-$8.35 (from $7.90-$8.30), and segment margin expansion 250-290 bps (from 220-270 bps). Operating cash flow guidance remains ~$2.1B. The company expects 4-6% organic growth in H2. CEO Vimal Kapur highlighted the transformation benefits and confidence in long-term targets. The spin-off positions Honeywell Technologies as a pure-play automation leader, and the raised guidance signals improving fundamentals in process and industrial end markets.