Honeywell International Inc. (HON) Presents at Morgan Stanley’s 13th Annual Laguna

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Christopher Snyder
Morgan Stanley, Research Division

Just maybe starting off high level, can you update us on the separation journey? Has there been any surprises or unexpected challenges or anything that’s just kind of maybe noteworthy that’s come up in this process?

Vimal Kapur
Chairman & CEO

So first of all, thanks, Chris, for having me here, and welcome, everybody, and good morning. I would say the spin perspective, they’re progressing on schedule. We’ll have our Solstice business spun off in Q4 this year. The Investor Day is on October 8. So those interested definitely should attend. And then Aero spin will be second half of next year, about a year-ish time from today. So no major surprises there, I would say, from an execution standpoint.

The AM spin gave us a little bit of a warm-up of doing a spin and Aero is complexity is high. But we have a separate project team, which executes that. So there’s a lot of work, I would say. But what surprised me to your question is the opportunity set as I’ve been more and more focusing on my new role as the CEO of RemainCo Automation. The opportunity set in automation with the confluence of cloud, data and AI is way bigger than I had hypothesized when we made a decision to separate. It was known

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