Newly spun-off Honeywell Aerospace cuts 2026 forecast on supply-chain woes
HONA•End markets remain strong despite output limits
"Secular trends across our end-markets remain strong, while supply constraints limited output growth in the quarter," said CEO Jim Currier.
Commercial aftermarket sales, the company's largest end-market, rose 8%, while defense and space sales increased 3%.
Quarterly profit hit by separation costs and mix
Honeywell Aerospace was spun off from Honeywell as part of a three-way split of one of the last major industrial conglomerates. It debuted on the Nasdaq in June.
The company incurred about $100 million of separation-related costs and inventory obsolescence charges, resulting in a 7% year-on-year fall in quarterly core profit.
Second-quarter adjusted profit per share fell 32% to $1.87, while sales rose 5% to $4.52 billion.
