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How Honeywell (HON) makes money: Q2 2026 revenue breakdown
The quarter in brief
Revenue grew 4.3% y/y to $9.72B, operating margin 17.9% vs 19.8%, net income $5.68B (+261.9% y/y).
Key growth driver: Service sales — the fastest-growing revenue line: $3,345, +6% y/y. · by the Q2 2026 report
Net income attributable to Honeywell Technologies
$5,682M
up 262% y/y
Net sales
$9,719M
up 4.3% y/y
Operating Income
$1,737M
down 5.8% y/y
Next report
not announced yet
How does Honeywell make money?
Honeywell brought in $9.72 billion of revenue in Q2 2026, up 4.3% year over year. The largest source was Product sales: $6.37 billion, or 66% of the total, followed by Service sales ($3.35B, 34%). Net income for the quarter was $5.68 billion, up 262% year over year.
Revenue by source, Q2 2026
- Product sales$6.37B · 66% · +3.2%
- Service sales$3.35B · 34% · +6.4%
Shares of $9.72B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
All figures in $M.
| Line item | Amount and change |
|---|---|
| Product sales | $6,374 · +3.2% |
| Service sales | $3,345 · +6.4% |
| Net sales | $9,719 · +4.3% |
| Cost of products sold | $4,205 · +6.5% |
| Cost of services sold | $1,861 · +8.8% |
| Selling, general and administrative expenses | $1,344 · −1.3% |
| Research and development expenses | $524 · +14.2% |
| Impairment of assets held for sale | $48 · vs $0 |
| Operating Income | $1,737 · −5.8% · 17.9% margin |
| Gain on deconsolidation of subsidiary | $6,629 · vs $0 |
| Other (income) expense and loss on debt extinguishment (calculated) | $474 · vs $113 |
| Interest and other financial charges | $363 · +10.3% |
| Income from continuing operations before taxes and equity losses | $7,529 · +363% |
| Tax expense | $1,578 · +547% · 21.0% effective rate |
| Equity loss | $265 · vs $0 |
| Less: Net (loss) income attributable to noncontrolling interest | $4 · vs −$1 |
| Net income attributable to Honeywell Technologies | $5,682 · +262% · $17.83/sh · 58.5% margin |
Verdict: revenue grew 4.3% y/y to $9.72B, operating margin 17.9% vs 19.8%, net income $5.68B (+261.9% y/y).
Diluted EPS $17.83 vs $4.90 a year earlier, including a one-time gain on deconsolidation of Quantinuum; adjusted EPS $4.52 vs $4.72 (non-GAAP); orders up 4%, backlog about $38 billion.
Source and notation
Source: Honeywell International earnings release, 8-K EX-99 of 07/23/2026 (SEC EDGAR). The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
- Net income jumped to $5,682M because of a $6,629M gain on deconsolidation of Quantinuum; operating income fell 6% to $1,737M and operating margin to 17.9% from 19.8%.
- The quarter still includes Aerospace Technologies with sales of $4,532M; it was spun off as Honeywell Aerospace (HONA) on June 29, 2026.
- Sales rose 4% to $9,719M, organic sales also up 4%; segment margin was 23.1% (non-GAAP).
- Operating income was $1.74B, a 17.9% margin vs 19.8% a year earlier.
- The effective tax rate was 21.0% vs 15.0% a year earlier.
- Diluted EPS was $17.83 vs $4.90 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
Who runs the company now
- Vimal KapurChairman and Chief Executive Officer [1]
- Michal StepniakSenior Vice President and Chief Financial Officer [2]
As of 10/20/2026, per the company’s SEC filings: signatures on the latest report and leadership-change filings.
Positions: the company’s SEC filings. Spotted an error, or is this you and you’d like it corrected or removed? Contact us
How this is compiled
Who runs the company now comes from primary sources only: for US companies, the CEO and CFO signatures on the latest SEC report, and a separate board chair from the proxy statement (DEF 14A); for Russian and Kazakh issuers, the company website and its disclosures. We recheck weekly; if a name can’t be confirmed, or a leadership-change filing came out after the report, we don’t show it until it’s reviewed. History comes from proxy statements, disclosures, Wikipedia and Wikidata; years show when a term started and ended, “since” means the person is in office now. An outcome for a previous employer is shown only when the linked document states it.
Sources · 2
- SEC EDGAR: 10-Q 2026-07-23 · SEC EDGAR · 10/20/2026
- SEC EDGAR: 10-Q 2026-07-23 · SEC EDGAR · 10/20/2026
Honeywell International Inc. is an American publicly traded, multinational automation corporation headquartered in Charlotte, North Carolina. · Text: Wikipedia, CC BY-SA 4.0, abridged
It primarily operates in three areas of business: building automation, industrial automation, and energy and sustainability solutions (ESS). Honeywell also operates Sandia National Laboratories under contract with the U.S. Department of Energy. Honeywell is a Fortune 500 company, ranked 115th in 2023. In 2025, the corporation had a global workforce of approximately 101,000 employees. As of 2025, its chairman and chief executive officer was Vimal Kapur.
Company guidance
Same quarter a year ago (ended September 30, 2025): revenue $9.44B, EPS (GAAP) $5.72
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
HON earnings history: past report dates
| Jul 23, 2026 Thu | 6:01 ambefore market open | Jun 30, 2026 | $9.7B+4% y/y | $17.83+264% y/y |
| Apr 23, 2026 Thu | 6:03 ambefore market open | Mar 31, 2026 | $9.1B+2% y/y | $2.58−42% y/y |
| Jan 29, 2026 Thu | 6:04 ambefore market open | Dec 31, 2025 | $9.8B+6% y/y | −$0.36 |
| Oct 23, 2025 Thu | 6:05 ambefore market open | Sep 30, 2025 | $9.4B+7% y/y | $5.72+32% y/y |
| Jul 24, 2025 Thu | 6:10 ambefore market open | Jun 30, 2025 | $9.3B+9% y/y | $4.90+4% y/y |
| Apr 29, 2025 Tue | 6:05 ambefore market open | Mar 31, 2025 | $8.9B+9% y/y | $4.44−0% y/y |
| Feb 6, 2025 Thu | 6:04 ambefore market open | Dec 31, 2024 | $9.2B−3% y/y | $3.92+3% y/y |
| Oct 24, 2024 Thu | 6:02 ambefore market open | Sep 30, 2024 | $8.8B−4% y/y | $4.32−5% y/y |
| Jul 10, 2024 Wed | 7:01 ambefore market open | Jun 30, 2024 | $8.6B−6% y/y | $4.72+6% y/y |
| Apr 25, 2024 Thu | 6:03 ambefore market open | Mar 31, 2024 | $8.2B−8% y/y | $4.46+8% y/y |
| Feb 1, 2024 Thu | 6:08 ambefore market open | Dec 31, 2023 | ≈$9.4B+3% y/y | ≈$3.82+26% y/y |
| Oct 10, 2023 Tue | 6:07 ambefore market open | Sep 30, 2023 | $9.2B+3% y/y | $4.54−0% y/y |
| Jul 27, 2023 Thu | 6:35 ambefore market open | Jun 30, 2023 | $9.1B+2% y/y | $4.44+21% y/y |
| Apr 27, 2023 Thu | 6:03 ambefore market open | Mar 31, 2023 | $8.9B+6% y/y | $4.14+26% y/y |
| Feb 2, 2023 Thu | 6:33 ambefore market open | Dec 31, 2022 | ≈$9.2B+6% y/y | ≈$3.02−26% y/y |
| Oct 27, 2022 Thu | 6:33 ambefore market open | Sep 30, 2022 | $9.0B+6% y/y | $4.56+27% y/y |
| Jul 28, 2022 Thu | 6:32 ambefore market open | Jun 30, 2022 | $9.0B+2% y/y | $3.68−10% y/y |
| Apr 29, 2022 Fri | 6:33 ambefore market open | Mar 31, 2022 | $8.4B−1% y/y | $3.28−19% y/y |
| Feb 3, 2022 Thu | 6:34 ambefore market open | Dec 31, 2021 | ≈$8.7B−3% y/y | ≈$4.10+7% y/y |
| Oct 22, 2021 Fri | 6:53 ambefore market open | Sep 30, 2021 | $8.5B+9% y/y | $3.60+68% y/y |
| Jul 23, 2021 Fri | 6:40 ambefore market open | Jun 30, 2021 | $8.8B+18% y/y | $4.08+33% y/y |
| Apr 23, 2021 Fri | 6:59 ambefore market open | Mar 31, 2021 | $8.5B−0% y/y | $4.06−8% y/y |
| Jan 29, 2021 Fri | 7:02 ambefore market open | Dec 31, 2020 | $8.9B−6% y/y | $3.82−12% y/y |
| Oct 23, 2020 Fri | 5:22 pmafter market close | Sep 30, 2020 | $7.8B−14% y/y | $2.14−52% y/y |
| Jul 24, 2020 Fri | 6:36 ambefore market open | Jun 30, 2020 | $7.5B−19% y/y | $3.06−27% y/y |
| May 1, 2020 Fri | 6:36 ambefore market open | Mar 31, 2020 | $8.5B−5% y/y | $4.42+15% y/y |
| Jan 31, 2020 Fri | 6:37 ambefore market open | Dec 31, 2019 | $9.5B−2% y/y | $4.32−6% y/y |
| Oct 17, 2019 Thu | 6:35 ambefore market open | Sep 30, 2019 | $9.1B−16% y/y | $4.46−28% y/y |
| Jul 18, 2019 Thu | 6:40 ambefore market open | Jun 30, 2019 | $9.2B−15% y/y | $4.20+25% y/y |
| Apr 18, 2019 Thu | 6:35 ambefore market open | Mar 31, 2019 | $8.9B−15% y/y | $3.84+2% y/y |
| Feb 1, 2019 Fri | 6:37 ambefore market open | Dec 31, 2018 | $9.7B−10% y/y | $4.62 |
| Oct 19, 2018 Fri | 6:38 ambefore market open | Sep 30, 2018 | $10.8B+6% y/y | $6.22+79% y/y |
| Jul 20, 2018 Fri | 6:39 ambefore market open | Jun 30, 2018 | $10.9B+8% y/y | $3.36−7% y/y |
| Apr 20, 2018 Fri | 6:41 ambefore market open | Mar 31, 2018 | $10.4B+9% y/y | $3.78+10% y/y |
| Jan 26, 2018 Fri | 6:36 ambefore market open | Dec 31, 2017 | $10.8B+9% y/y | −$6.64 |
| Oct 10, 2017 Tue | 7:01 pmafter market close | Sep 30, 2017 | $10.1B+3% y/y | $3.48+9% y/y |
| Jul 21, 2017 Fri | 6:38 ambefore market open | Jun 30, 2017 | $10.1B+1% y/y | $3.60+6% y/y |
| Apr 21, 2017 Fri | 6:40 ambefore market open | Mar 31, 2017 | $9.5B−0% y/y | $3.44+10% y/y |
| Jan 27, 2017 Fri | 6:38 ambefore market open | Dec 31, 2016 | $10.0B+0% y/y | $2.68−12% y/y |
| Oct 6, 2016 Thu | 5:23 pmafter market close | Sep 30, 2016 | $9.8B+2% y/y | $3.20+0% y/y |
| Jul 22, 2016 Fri | 6:38 ambefore market open | Jun 30, 2016 | $10.0B+2% y/y | $3.40+13% y/y |
| Apr 22, 2016 Fri | 6:37 ambefore market open | Mar 31, 2016 | $9.5B+3% y/y | $3.12+11% y/y |
| Jan 29, 2016 Fri | 6:48 ambefore market open | Dec 31, 2015 | $10.0B−3% y/y | $3.06+28% y/y |
| Oct 16, 2015 Fri | 6:44 ambefore market open | Sep 30, 2015 | $9.6B−5% y/y | $3.20+9% y/y |
| Jul 17, 2015 Fri | 7:06 ambefore market open | Jun 30, 2015 | $9.8B−5% y/y | $3.02+9% y/y |
| Apr 17, 2015 Fri | 7:07 ambefore market open | Mar 31, 2015 | $9.2B−5% y/y | $2.82+10% y/y |
| Jan 23, 2015 Fri | 7:08 ambefore market open | Dec 31, 2014 | $10.3B−1% y/y | $2.40+1% y/y |
| Oct 17, 2014 Fri | 7:09 ambefore market open | Sep 30, 2014 | $10.1B+5% y/y | $2.94+19% y/y |
| Jul 18, 2014 Fri | 7:08 ambefore market open | Jun 30, 2014 | $10.3B+6% y/y | $2.76+8% y/y |
| Apr 17, 2014 Thu | 7:17 ambefore market open | Mar 31, 2014 | $9.7B+4% y/y | $2.56+6% y/y |
| Jan 24, 2014 Fri | 7:15 ambefore market open | Dec 31, 2013 | $10.4B+8% y/y | $2.38+272% y/y |
| Oct 18, 2013 Fri | 7:15 ambefore market open | Sep 30, 2013 | $9.6B+3% y/y | $2.48+3% y/y |
Show all 52 reports since 2013Show fewer
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Honeywell: 15-year financials
| 2025 | 37,442 | 8,127 | 4,729 | 5,422 | 2,976 |
| 2024 | 34,717 | 7,667 | 5,705 | 5,226 | 2,902 |
| 2023 | 33,009 | 7,563 | 5,658 | 4,599 | 2,855 |
| 2022 | 35,466 | 8,022 | 4,966 | 4,508 | 2,719 |
| 2021 | 34,392 | — | 5,542 | 5,143 | 2,626 |
| 2020 | 32,637 | — | 4,779 | 5,302 | 2,592 |
| 2019 | 36,709 | — | 6,143 | 6,058 | 2,442 |
| 2018 | 41,802 | — | 6,765 | 5,606 | 2,272 |
| 2017 | 40,534 | — | 1,545 | 4,935 | 2,119 |
| 2016 | 39,302 | — | 4,812 | 4,403 | 1,915 |
| 2015 | 38,581 | — | 4,768 | 4,446 | 1,726 |
| 2014 | 40,306 | — | 4,239 | 3,986 | 1,510 |
| 2013 | 39,055 | — | 3,924 | 3,388 | 1,353 |
| 2012 | 37,665 | — | 2,926 | 2,633 | 1,211 |
| 2011 | 36,529 | — | 2,067 | 2,043 | 1,091 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing. The table starts in 2011; where the listed issuer changed (holding reorganization, redomicile), earlier years come from the predecessor’s filings.
Shareholders’ equity at Jun 30, 2026: $18.5B (24% of total assets). Compare with other S&P 500 companies →
Included in screener lists: S&P 500 companies that paid dividends 10 years without a gap
Honeywell (HON) earnings: FAQ
How does Honeywell make money?
Honeywell brought in $9.72 billion of revenue in Q2 2026, up 4.3% year over year. The largest source was Product sales: $6.37 billion, or 66% of the total, followed by Service sales ($3.35B, 34%). Net income for the quarter was $5.68 billion, up 262% year over year.
When is HON's next earnings date?
We have not yet seen an announcement of the date from Honeywell (HON). Based on last year's report on Oct 23, 2025, the next report is expected around Oct 22, 2026.
What time does HON report earnings?
Honeywell usually reports before market open: its latest results release was filed with the SEC at 6:01 am ET on Jul 23, 2026.
When did HON last report earnings?
Honeywell reported Q2 2026 results on Jul 23, 2026.
Where can I find Honeywell's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to HON's filings; this page breaks the latest report down in a Sankey chart.
What was HON's net income in Q2 2026?
Honeywell reported net income of $5,682M for Q2 2026 (+262% year over year), under US GAAP.
Does Honeywell pay dividends?
Yes. In 2025, Honeywell paid $2,976M in dividends on its common stock, per its 10-K. Earlier years are in the 15-year table above.
How has Honeywell's revenue changed since 2011?
Per its 10-K filings, revenue was roughly flat: $36,529M in 2011 and $37,442M in 2025. The peak was $41,802M in 2018. Year-by-year figures are in the table above.
New to earnings reports? Start with how to read an earnings report.
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