Honeywell Aerospace 10-Q, filed Aug 5, 2026

Summary

Honeywell completed the spin-off of its Aerospace business on June 29, 2026, distributing 316,939,750 Honeywell Aerospace common shares to Honeywell shareholders at one Aerospace share for every two Honeywell shares, and Honeywell Aerospace became an independent public company listed on Nasdaq under the symbol "HONA". Honeywell Aerospace reported organic net sales growth of 5% for the quarter ended June 27, 2026 compared with a year earlier, with higher material and inventory obsolescence costs and spin-off-related expenses.

Key points

• The spin-off distributed 316,939,750 Honeywell Aerospace common shares, with Honeywell shareholders receiving one Aerospace share for every two Honeywell common shares held as of the June 15, 2026 record date; Honeywell retained no Aerospace shares after the distribution.
• Net sales rose $233 million for the quarter ended June 27, 2026 versus a year earlier, driven by higher Commercial Aftermarket organic sales in Control Systems and Electronic Solutions and higher Defense and Space organic sales in Electronic Solutions.
• Cost of products and services sold rose $216 million, including about $50 million of higher inventory obsolescence charges, and gross margin percentage declined by 1 point.
• Total research and development costs were $512 million for the quarter versus $441 million a year earlier, and selling, general and administrative expenses rose $339 million, including $253 million of incremental spin-off transaction costs; transaction costs are expected through at least fiscal year 2027.

Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.