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BRIEF-Honeywell CEO Says Aero Business May Not Get Back…

July 24 – Honeywell International Inc:

* HONEYWELL INTERNATIONAL INC SAYS COMMERCIAL AEROSPACE DECLINES WERE PARTIALLY OFFSET BY CONTINUED DEMAND FOR U.S. GOVERNMENT PROGRAMS, INCLUDING THE F-35, F-15 – CONF. CALL

* HONEYWELL SAYS EXPECTS FIXED COSTS TO BE PRESSURED IN Q3 AS THE PERMANENT REDUCTIONS BEGIN TO REPLACE THE BENEFITS OF THE MORE TEMPORARY ACTIONS

* HONEYWELL CFO SAYS EXPECTS 2020 CAPEX OF $900 MILLION

* HONEYWELL SAYS OPEN TO DEPLOYING CAPITAL TO SHARE REPURCHASES AND M&A INVESTMENTS IN H2 IF ATTRACTIVE OPPORTUNITIES BECOME AVAILABLE

* HONEYWELL CFO SAYS EXPECTS GLOBAL FLIGHT HOURS TO REMAIN SIGNIFICANTLY BELOW 2019 LEVELS

* HONEYWELL SAYS COMMERCIAL ORIGINAL EQUIPMENT BUSINESS WILL CONTINUE TO BE IMPACTED BY LOWER AIR TRANSPORT OEM BUILD RATES AND LOWER BUSINESS JET DEMAND

* HONEYWELL SAYS WHILE THERE ARE SIGNS OF STABILIZATION IN THE MACRO ECONOMY, KEY END MARKETS REMAIN CHALLENGED AND ECONOMIC CONDITIONS FLUID

* HONEYWELL EXPECTS BETWEEN $125 MILLION AND $175 MILLION OF ADDITIONAL REPOSITIONING CHARGES IN THE THIRD QUARTER TO FUND COST PROGRAMS

* HONEYWELL SAYS CO REMAINS CAUTIOUS HEADING INTO H2 AS THERE ARE STILL MANY UNKNOWNS

* HONEYWELL CEO SAYS EXPECTS BUSINESS AVIATION AFTERMARKET TO BE SLIGHTLY BETTER THAN IT WAS IN Q2

* HONEYWELL CFO SAYS AIRLINES BEHAVIORS Haven’t NECESSARILY SOLIDIFIED YET

* HONEYWELL CEO SAYS Q3 IS NOT GOING TO BE DRAMATICALLY BETTER AND EXPECTS MODEST IMPROVEMENT

* HONEYWELL CEO SAYS CO’S BALANCE SHEET IS VERY STRONG AND WELL PROTECTED, WELL FUNDED AND ITS OPEN FOR M&A AS WELL AS POTENTIAL BUYBACKS

* HONEYWELL CEO SAYS NOT SO PESSIMISTIC THAT AERO IS GOING TO BE DOWN TILL 2024; IT’S GOING TO COME BACK FASTER AND ALIGN TO A MEDICAL SOLUTION

* HONEYWELL CEO SAYS AERO’S PROBABLY NOT GOING TO GET BACK TO 2019 LEVELS UNTIL AT LEAST 2022 OR A BIT LATER; SIZING BIZ FOR THAT KIND OF REDUCTION Further company coverage:

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