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

Honeywell’s decision to halt enterprise routines in Russia adhering to the country’s invasion of Ukraine is not likely to bring about issues for the company’s equilibrium sheet, CEO Darius Adamczyk advised CNBC on Monday.

“It has some implications, but it’s the correct point to do, it truly is a small little bit north of 1% of our all round shares, and our producing presence there is rather smaller,” Adamczyk reported in an interview on “Mad Funds.”

“We will see what occurs. We are monitoring the scenario,” he included.

The technological innovation agency is just one of hundreds of firms that have stopped or curtailed functions in Russia like Adidas, McDonald’s and Apple. The enterprise introduced its final decision to “substantially” suspend its routines on March 8.

As for the firm’s other attainable headwinds, Adamczyk reported that Honeywell’s offer chain and raw substance costs have been workable. Honeywell’s fourth quarter earnings fell short of anticipations final month thanks to provide chain troubles, among other components. 

“We have in fact completed a great occupation of defending that small business. Titanium is something we look at very closely and some of the factors there, but we have been a minimal bit in advance of the match and secured resources of source, so we are in pretty fantastic condition there.”

Honeywell stock was up .53% at the close of Monday’s investing session.

When asked about upcoming strategies, Adamczyk reported that the company programs to purchase $4 billion well worth of shares, which he considers to at the moment be a “discount,” and look toward earning acquisitions.

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