Honeywell’s choice to halt industry actions in Russia following the rustic’s invasion of Ukraine is not likely to motive issues for the corporate’s steadiness sheet, CEO Darius Adamczyk advised CNBC on Monday.
“It has some implications, however it is the proper factor to do, it is a little bit north of one% of our general stocks, and our production presence there’s quite small,” Adamczyk mentioned in an interview on “Mad Cash.”
“We will see what occurs. We are tracking the placement,” he added.
The generation company is one in every of loads of businesses that experience stopped or curtailed operations in Russia together with Adidas, McDonald’s and Apple. The corporate introduced its choice to “considerably” droop its actions on March 8.
As for the corporate’s different imaginable headwinds, Adamczyk mentioned that Honeywell’s provide chain and uncooked subject material prices were manageable. Honeywell’s fourth quarter earnings fell wanting expectancies ultimate month because of provide chain problems, amongst different elements.
“We’ve got in truth finished a excellent process of defending that industry. Titanium is one thing we watch very intently and one of the most elements there, however we now have been somewhat bit forward of the sport and secured assets of provide, so we are in beautiful excellent form there.”
Honeywell inventory used to be up 0.53% on the finish of Monday’s buying and selling consultation.
When requested about long run plans, Adamczyk mentioned that the corporate plans to shop for $4 billion value of stocks, which he considers to these days be a “discount,” and glance towards making acquisitions.
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