Honeywell Breakup: Honeywell Tech Stands Out

Honeywell, once a large industrial conglomerate, has broken up into three separate companies. The move is part of a trend where corporations are splitting their businesses to focus on specific areas.

As Honeywell Technology, one of the newly independent companies, reported second-quarter earnings, it showed that its automation business was performing well. Orders rose 16%, and adjusted earnings increased by 10% year over year.

The company's CEO, Vimal Kapur, is overseeing this business, which has a growing backlog of $20 billion in orders.

Honeywell Aerospace, another spin-off, reported lower organic sales growth guidance, while Solstice Advanced Materials showed solid early results but is the smallest of the three companies with a market cap of around $9.5 billion.