Honeywell International (HON) Jefferies Global Industrial Conference 2024 summary

Leadership and organizational updates

• CFO Mike Stepniak was promoted to CFO of the overall organization.

• Jim Currier, CEO since August 2023, brings nearly two decades of Honeywell Aerospace experience and has led major product launches and business units.

Market performance and growth outlook

• Achieved double-digit growth across all three end markets in Q2, with margins above 27%.

• Targeting mid-double-digit supply chain output growth for the second half of the year and into 2025.

• Defense and space business expected to be up double digits for the full year, with continued strength anticipated.

• Record backlog and strong orders environment support future growth prospects.

• Well-positioned to capture market upcycle with mid- to high-single-digit long-term sales CAGR.

Supply chain and production trends

• Electronics supply chain has nearly recovered, while mechanical side faces ongoing labor constraints, especially in the U.S.

• Labor shortages in specialized areas like castings, forgings, and bearings remain a challenge.

• Supply chain output is expected to normalize by the end of 2025.