Honeywell International Inc. plans to reorganize its business into three segments in a bid to improve sales growth, the company said Tuesday.
The new segments will be automation, the future of aviation and energy transition. 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 HON, +1.01% “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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