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

Honeywell’s choice to halt enterprise pursuits in Russia subsequent the country’s invasion of Ukraine is unlikely to lead to complications for the company’s balance sheet, CEO Darius Adamczyk told CNBC on Monday.

“It has some implications, but it’s the proper factor to do, it truly is a small bit north of 1% of our all round shares, and our manufacturing existence there is fairly tiny,” Adamczyk said in an job interview on “Mad Funds.”

“We will see what comes about. We’re monitoring the circumstance,” he added.

The engineering firm is a person of hundreds of providers that have stopped or curtailed operations in Russia which includes Adidas, McDonald’s and Apple. The organization introduced its choice to “significantly” suspend its things to do on March 8.

As for the company’s other possible headwinds, Adamczyk reported that Honeywell’s source chain and uncooked product charges have been manageable. Honeywell’s fourth quarter profits fell brief of expectations previous thirty day period because of to provide chain challenges, amongst other variables. 

“We’ve in fact finished a great occupation of protecting that small business. Titanium is a thing we observe really intently and some of the factors there, but we’ve been a tiny bit in advance of the sport and secured resources of provide, so we are in really great form there.”

Honeywell stock was up .53% at the conclusion of Monday’s buying and selling session.

When asked about long term options, Adamczyk stated that the enterprise ideas to purchase $4 billion worth of shares, which he considers to presently be a “cut price,” and seem towards producing acquisitions.

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