CA - Honeywell International Inc. (HON) J.P. Morgan 2024 Industrials Conference (Transcript)
2024-03-12 12:00:06 ET
Honeywell International Inc. (HON)
J.P. Morgan 2024 Industrials Conference
March 12, 2023 07:45 AM ET
Company Participants
Greg Lewis - CFO
Conference Call Participants
Steve Tusa - JPMorgan
Presentation
Steve Tusa
Okay. Thanks everyone for joining us for a kickoff of our Industrials Conference this year. Great to have everybody here. Before we start with Honeywell, just want to remind everybody and I feel like an idiot saying this, but, we have a panel at 2 o'clock this afternoon on AI, and it's the basically the Head of AI, JP Morgan. We're doing a lot here and I think it's actually going to be super interesting, better than prior year panels. So, hopefully, you can take some time and sit on that at 2 o'clock.
But before that, we have a bunch of companies lined up here, and we're very pleased to start with Honeywell. We have Greg Lewis, CFO, and Sean Meakim of Investor Relations. Greg, thanks for being here. And I don't know if you want to kick off with just a little bit of an update on what you guys are seeing, so far here through the beginning of March and then I have a few questions.
Greg Lewis
Sure. So, first of all, thanks for having me. It's been a while since I've been here with you. Just super quick, just a couple of quick pages and then we can get into the Q&A. Maybe first and foremost we're two months plus through the quarter, our guidance is in the backup of this document. But certainly here to reaffirm that we're on track to our guidance for the first quarter. I'm excited to see, I'm excited for a new year, I'm excited for the platform that we've built here at Honeywell. And certainly what Vimal is bringing to the table in terms of an enhanced focus on growth. And we're excited about the mega trends that we are decked up against. You've seen this before, but certainly we're getting closer to closing on the acquisition with Carrier.
We've said that that was expected to close sometime in the third quarter. The timing of that of course will be what it will be. But we also have the raise for quantinuum which again, importantly a $5 billion valuation on that with the $300 million raise. And there's been a lot of talk, of course, about our capital deployment overall. This year, just with the closing of the Carrier deal mass says we're going to deploy $10 billion of capital, which is the highest that we've done in a number of years. And certainly will take us to over our $25 billion plus three year commitment. So you can see that the acceleration is there. We're excited about the financial algorithm that we have to bring to bear for the company, 8% to 12% EPS growth given both our organic growth algorithm, what we've continued to do in terms of our 1% minimum share repurchase. And again, of course the adding onto that M&A and we're not done with just one deal last year.
I think as you've seen before, we've demonstrated our ability to deliver on our algorithm year after year through ups and downs in the environment that we've seen. And we'll continue to do that as we go forward from here. So very excited about the platform that we've built in Honeywell over the last 20 years, but particularly the last five to six. And looking forward to really leverage that with the Vimal's focus and pivot towards a bigger growth agenda....
Honeywell International Inc. (HON) J.P. Morgan 2024 Industrials Conference (Transcript)