Honeywell CEO says suspending business in Russia won’t be a major headwind
Honeywell’s selection to halt company pursuits in Russia following the country’s invasion of Ukraine is not likely to bring about difficulties for the company’s balance sheet, CEO Darius Adamczyk advised CNBC on Monday.
“It has some implications, but it can be the appropriate thing to do, it can be a little bit north of 1% of our in general shares, and our producing existence there is comparatively smaller,” Adamczyk mentioned in an job interview on “Mad Dollars.”
“We’ll see what takes place. We are monitoring the condition,” he added.
The technologies business is one particular of hundreds of corporations that have stopped or curtailed functions in Russia which include Adidas, McDonald’s and Apple. The organization introduced its decision to “substantially” suspend its actions on March 8.
As for the company’s other attainable headwinds, Adamczyk reported that Honeywell’s offer chain and raw substance charges have been workable. Honeywell’s fourth quarter income fell brief of expectations final thirty day period because of to supply chain concerns, among the other variables.
“We’ve in fact accomplished a superior career of safeguarding that organization. Titanium is something we check out pretty carefully and some of the components there, but we’ve been a little little bit forward of the game and secured resources of supply, so we are in very great form there.”
Honeywell inventory was up .53% at the stop of Monday’s trading session.
When requested about long run ideas, Adamczyk reported that the organization options to obtain $4 billion well worth of shares, which he considers to at this time be a “bargain,” and glance toward generating acquisitions.
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