The company strategically invested in growth through acquisitions, including Carrier Global Corporation's Global Access Solutions business, CAES Systems Holdings LLC, Air Products' LNG business, and Civitanavi Systems S.p.A.

In February 2025, Honeywell announced its intention to separate its Automation and Aerospace Technologies businesses into independent, U.S. publicly traded companies, forming three industry-leading public companies.

Honeywell committed to two strategic divestitures of non-core businesses, including the sale of its personal protection equipment (PPE) business and the intent to spin off its Advanced Materials business.

The company announced HCE 3.0, integrating its software strategy into each strategic business group to improve customer outcomes and drive software growth across the portfolio.

Honeywell is using its Accelerator operating model to integrate acquired companies, deploying best practices consistently across the portfolio and scaling capabilities across business models.

Honeywell opportunistically repurchased shares to maintain its commitment to reduce share count by at least 1% per year and increased its dividend for the fifteenth time in the last fourteen years.

The company acknowledges that ongoing macroeconomic conditions and geopolitical events, such as lower GDP growth, supply chain disruptions, and regional conflicts, pose risks to near- and long-term performance.

Honeywell's international operations, representing over half of its sales, are subject to various risks, including foreign exchange fluctuations, trade restrictions, and political instability, which could impact financial results.

The company identifies risks related to acquisitions, including the failure of acquired businesses to meet expectations or the inability to integrate them effectively, and risks related to divestitures, such as the inability to dispose of non-core assets on satisfactory terms.

The company acknowledges that it is subject to competition in substantially all product and service areas. Key competitive factors include performance, technology, innovation, quality, and price.

While competitive position varies among products and services, the company states it is a significant competitor in each of its major product and service areas.

The Company, principally through our Aerospace Technologies reportable business segment, sells to the U.S. government acting through its various departments and agencies and through prime contractors.

The company's operating system, Honeywell Accelerator, is a critical component in approaching environmental stewardship and driving sustainable improvements and waste elimination in manufacturing operations.

The company maintains mitigation strategies to reduce the impact of raw material disruptions, including digital solutions, longer-term planning, and direct engagement with key suppliers.

Higher productivity of approximately $0.4 billion or 2% partially offset higher direct and indirect material costs and higher labor costs and incremental costs from recent acquisitions.

Honeywell Accelerator is the framework for how we think, run, and grow our business. It provides a unified approach to drive transformation and continuous improvement to give our teams the capabilities needed to win in the marketplace.

Our Honeywell Forge solutions enable our customers to turn data into predictive maintenance and predictive analytics to enable better fleet management and make flight operations more efficient.

Our contemporary, interactive, and accessible learning platform, Accelerator Learning, serves as a central source of information and supports our commitment to continuous learning, which is core to our culture and long-term business growth strategy.

During the year, we deployed $14.6 billion to capital expenditures, dividends, share repurchases, and mergers and acquisitions. We opportunistically repurchased shares to maintain our commitment to reduce share count by at least 1% per year and increased our dividend for the fifteenth time in the last fourteen years.

Company committed $300M to renewable energy projects, targeting 50% reduction in Scope 1 & 2 emissions by 2025. Q3 saw completion of two solar installations expected to offset 25% of current energy consumption.

We increased our quarterly dividend rate by 5% to $1.13 per share of common stock effective with the fourth quarter 2024 dividend. We intend to continue to pay quarterly dividends in 2025.

Honeywell is committed to being environmentally responsible, reflected in extensive work to reduce greenhouse gas (GHG) emissions, increase energy efficiency, conserve water, minimize waste, and manage air emissions.

We uphold our commitment to be carbon neutral by 2035 in our facilities and operations. Our GHG reduction program initially began in 2004, setting us well on our way to achieving this commitment.

As a global enterprise serving customers from all backgrounds, in almost every geography, and in a wide array of end markets, Inclusion and Diversity is a fundamental value that enables our long-term strategy.

We continue to monitor the impacts of ongoing macroeconomic conditions and geopolitical events. An escalation of geopolitical tensions or the implementation of global trade restrictions could impede disinflation and negatively impact growth prospects.

Global growth in the economy is projected to remain stable with further easing of inflation. Our mitigation strategies include pricing actions and hedging strategies, longer term planning for constrained materials, new supplier development, material supply tracking tools, and direct engagement with key suppliers to meet customer demand.

Our operations are subject to various federal, state, local, and foreign government regulations, including requirements regarding the protection of human health and the environment. We design our policies, practices, and procedures to provide a safe operating environment, to prevent unreasonable risk of environmental damage, and of resulting financial liability, in connection with our business.