Honeywell CEO says suspending business in Russia won’t be a major headwind

Honeywell’s determination to halt enterprise pursuits in Russia pursuing the country’s invasion of Ukraine is not likely to bring about troubles for the company’s stability sheet, CEO Darius Adamczyk told CNBC on Monday.

“It has some implications, but it can be the right issue to do, it really is a tiny little bit north of 1% of our in general shares, and our producing existence there is comparatively tiny,” Adamczyk claimed in an job interview on “Mad Funds.”

“We are going to see what occurs. We are checking the circumstance,” he additional.

The technologies agency is a person of hundreds of firms that have stopped or curtailed functions in Russia together with Adidas, McDonald’s and Apple. The enterprise declared its selection to “significantly” suspend its things to do on March 8.

As for the firm’s other achievable headwinds, Adamczyk said that Honeywell’s provide chain and raw product charges have been workable. Honeywell’s fourth quarter earnings fell short of anticipations very last month due to source chain problems, among the other elements. 

“We’ve essentially finished a great job of shielding that business. Titanium is some thing we enjoy really intently and some of the factors there, but we’ve been a small little bit ahead of the video game and secured resources of source, so we’re in very fantastic form there.”

Honeywell stock was up .53% at the conclude of Monday’s investing session.

When asked about potential designs, Adamczyk said that the company programs to buy $4 billion worthy of of shares, which he considers to at this time be a “deal,” and glance towards earning acquisitions.

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