HON Honeywell Technologies (HON) Q3 FY26 earnings call
Honeywell Technologies delivered a strong Q3 FY26, marked by broad-based organic growth and significant margin expansion, driven by strategic pricing, productivity, and accelerated stranded cost elimination. The company is seeing a multi-year growth inflection in Process Automation and Technology and continued outperformance in Building Automation, leading to a raised full-year outlook across all key metrics. Management is confident in achieving its 2029 targets, supported by robust backlog and strong short-cycle demand.
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HON operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | This call Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Backlog | $35.3BHoneywell's backlog reached a record level of $35.3 billion in the quarter, growing 11% year-over-year.Source: earnings call transcript | $36.1BOrders were $10.6 billion in the quarter, up 3% year-over-year, excluding the effect of acquisitions, both supported by organic backlog growth of 8% to a new record of $36.1 billion.Source: earnings call transcript | — | $37B+Honeywell delivered a strong fourth quarter to close 2025, exceeding our expectations for both adjusted sales and adjusted EPS with orders up 23%, driving our backlog to over $37 billion.Source: earnings call transcript | $38B+Including the orders growth in Aerospace, we drove backlog to over $38 billion with book-to-bill above 1.1.Source: earnings call transcript | — | <$19BWe are instrumenting the business to outperform both in 2027 and over the long term, with strong short-cycle demand, a backlog of nearly $19 billion and momentum across the portfolio.Source: earnings call transcript | — |
| Orders | — | $10.6BOrders were $10.6 billion in the quarter, up 3% year-over-year, excluding the effect of acquisitions, both supported by organic backlog growth of 8% to a new record of $36.1 billion.Source: earnings call transcript | $11.9BOrders grew 22% organically from the previous year to $11.9 billion.Source: earnings call transcript | — | — | — | — | +12.3% |
| Book-to-bill ratio Aerospace Technologies | — | 1.1 ratioAerospace industry demand continues to outpace supplies, supporting our orders growth of 9% and a book-to-bill of 1.1.Source: earnings call transcript | 1.2 ratioOrders momentum continued with strong double-digit orders growth across all 3 end markets and book-to-bill of 1.2x.Source: earnings call transcript | — | 1.1 ratioWe continue to see strong Aerospace demand across commercial OE, commercial aftermarket and defense space, which is driving sustained orders growth of 28% over the last 12-months, which drove roughly $19 billion Aerospace backlog, a 20% increase from the prior year and 1.1 book-to-bill in the first quarter.Source: earnings call transcript | — | — | — |
| Book-to-bill ratio | — | — | — | — | — | 1.1 ratioFinally, book-to-bill for the total company was 1.1, and our ending backlog was up 9%.Source: earnings call transcript | 1 ratioFurthermore, book-to-bill in this quarter was 1.0, which drove ending backlog to nearly $19 billion, up 7%, excluding our divestitures.Source: earnings call transcript | -9.1% |
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