FX.co ★ Honeywell Closes Acquisition Of Carrier's Global Access Solutions Unit; Boosts FY24 Profit Outlook

Honeywell International Inc. (HON) announced on Monday the successful acquisition of Carrier Global Corp.'s (CARR) Global Access Solutions business for $4.95 billion.

This acquisition strategically positions Honeywell as a leading provider of security solutions in the digital era, opening up opportunities for accelerated innovation in the burgeoning domain of cloud-based services and solutions.

Global Access Solutions bolsters Honeywell’s Building Automation business model, which focuses on delivering high-value, crucial products for building infrastructures.

Furthermore, this transaction enhances Honeywell's alignment with three significant megatrends, including automation, and integrates seamlessly with Honeywell's Building Automation segment.

The acquisition is projected to be accretive to adjusted earnings per share in its first full year under Honeywell's ownership.

Consequently, Honeywell has updated its full-year sales and adjusted earnings per share guidance. For fiscal 2024, the company now anticipates adjusted earnings in the range of $10.15 to $10.45 per share and sales between $38.5 billion and $39.3 billion, with an organic sales growth forecast of 4 to 6 percent.

Previously, Honeywell had projected adjusted earnings between $9.80 and $10.10 per share on sales ranging from $38.1 billion to $39.9 billion, with the same organic sales growth forecast of 4 to 6 percent.

On average, analysts surveyed by Thomson Reuters expect Honeywell to report earnings of $9.93 per share on revenues of $38.45 billion for the fiscal year. Analysts' estimates typically exclude special items.