Honeywell said it plans to spin off its Advanced Materials business as a stand-alone, publicly traded company on October 8, 2024. The company said the spin-off is intended to be tax-free to U.S. federal income tax shareowners and is targeted for completion by the end of 2025 or early 2026.

8-KRegulation FD DisclosureFiled Oct 8, 2024Period of report Oct 8, 2024Summary published (UTC) Oct 25, 2026

Key points

AI summary

Honeywell said it plans to spin off its Advanced Materials business as a stand-alone, publicly traded company on October 8, 2024. The company said the spin-off is intended to be tax-free to U.S. federal income tax shareowners and is targeted for completion by the end of 2025 or early 2026.
The company said Advanced Materials is expected to generate FYFY24 estimated revenue of $3.7 billion to $3.9 billion, with an EBITDA margin greater than 25%. In the press release headline summary, it cited approximately $3.8 billion in revenue.
The company said the spin-off is subject to conditions including the filing and effectiveness of a Form 10 registration statement, assurance that the spin-off will be tax-free to shareowners, receipt of applicable regulatory approvals, and final approval by its board of directors. It said shareowner approval is not required. The company also said the transaction will not affect its FYFY24 guidance.
Honeywell said it completed the acquisitions of Carrier Access Solutions, Civitanavi, CAES and Air Products' LNG business in the past 12 months. It also said it is on pace to exceed its commitment to deploy at least $25 billion by 2025, and that it has deployed approximately $9 billion toward acquisitions to date in 2024.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Advanced Materials Spin-Off Plan

Honeywell said it plans to spin off its Advanced Materials business as a stand-alone, publicly traded company on October 8, 2024. The company said the spin-off is intended to be tax-free to U.S. federal income tax shareowners and is targeted for completion by the end of 2025 or early 2026.

Source · Based on the filing body and exhibits

Advanced Materials FYFY24 Revenue and EBITDA Margin

The company said Advanced Materials is expected to generate FYFY24 estimated revenue of $3.7 billion to $3.9 billion, with an EBITDA margin greater than 25%. In the press release headline summary, it cited approximately $3.8 billion in revenue.

Source · Based on the filing body and exhibits

Spin-Off Completion Conditions and Impact on FY24 Outlook

The company said the spin-off is subject to conditions including the filing and effectiveness of a Form 10 registration statement, assurance that the spin-off will be tax-free to shareowners, receipt of applicable regulatory approvals, and final approval by its board of directors. It said shareowner approval is not required. The company also said the transaction will not affect its FYFY24 guidance.

Source · Based on the filing body and exhibits

Portfolio Optimization and Acquisition Spending

Honeywell said it completed the acquisitions of Carrier Access Solutions, Civitanavi, CAES and Air Products' LNG business in the past 12 months. It also said it is on pace to exceed its commitment to deploy at least $25 billion by 2025, and that it has deployed approximately $9 billion toward acquisitions to date in 2024.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.