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

Honeywell’s conclusion to halt business activities in Russia pursuing the country’s invasion of Ukraine is unlikely to induce troubles for the company’s balance sheet, CEO Darius Adamczyk told CNBC on Monday.

“It has some implications, but it’s the proper thing to do, it can be a very little bit north of 1% of our overall shares, and our production presence there is reasonably modest,” Adamczyk reported in an job interview on “Mad Dollars.”

“We’ll see what takes place. We’re checking the predicament,” he extra.

The technologies company is 1 of hundreds of providers that have stopped or curtailed functions in Russia which includes Adidas, McDonald’s and Apple. The organization introduced its conclusion to “substantially” suspend its activities on March 8.

As for the firm’s other achievable headwinds, Adamczyk claimed that Honeywell’s source chain and raw materials prices have been workable. Honeywell’s fourth quarter revenue fell quick of anticipations past thirty day period thanks to provide chain difficulties, amid other factors. 

“We have essentially carried out a very good work of shielding that company. Titanium is some thing we look at very intently and some of the parts there, but we have been a tiny little bit in advance of the match and secured resources of source, so we are in pretty great form there.”

Honeywell inventory was up .53% at the close of Monday’s trading session.

When questioned about upcoming options, Adamczyk said that the corporation plans to buy $4 billion truly worth of shares, which he considers to presently be a “bargain,” and seem towards making acquisitions.

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