U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.29%The broadcaster’s former technology correspondent, 66, was formally made an OBE by the Princess Royal for his services to journalism on Wednesday. Cellan-Jones announced in 2019 that he had been diagnosed with Parkinson’s and he has since contributed to a podcast, Movers And Shakers, discussing life with the disease. Discussing the success of the podcast, which also features Jeremy Paxman, Cellan-Jones told the PA news agency: “It’s been an absolute scream. “We’ve had the most extraordinary reaction from the Parkinson’s community. “There is a community which felt absolutely left out in the cold and this award was for services to journalism, but I can’t help but think that maybe that played some part too.” Cellan-Jones said he talked to Anne about fundraising for Parkinson’s and how technology could possibly be used to monitor the disease. The journalist added: “She showed real interest in it. “Mike Tindall, whose father’s got it, is very active in fundraising – so we talked about that.” Cellan-Jones said the OBE was “very unexpected when it came”, adding that he felt “very privileged”. He said his rescue dog from Romania, named Sophie, was “making slow progress” after becoming a social media sensation with thousands of people following her recovery online. Speaking at Buckingham Palace, Cellan-Jones said several courtiers had asked after Sophie, adding: “She’s still incredibly nervous. She’s waiting at home, she wouldn’t have liked it here – a bit too busy. “She’s making slow progress, but she’s wonderful, and she’s been very important to us.” Earlier on Wednesday, broadcaster Alan Yentob, 77, was formally made a Commander of the Order of the British Empire (CBE) by the King for services to the arts and media. The retired television executive, who was born in Stepney, London, joined the BBC as a trainee in 1968. He devised the flagship arts programme Imagine..., which he presented on, and was creative director of the broadcaster from 2004 until 2015. Yentob stepped down from the role in the wake of the collapse of the charity Kids Company, where he was chairman. The broadcaster said Charles had been “incredibly supportive” of him. Discussing Charles, Yentob told the PA news agency: “He’s been incredibly supportive, as I said to him, on many fronts, including the fact that I was the chairman of Kids Company, and he was incredibly supportive of that in the most difficult times. “And I think the way he’s come out about his illness, and the way the Princess of Wales has too, has been admirable.” Yentob said it would be “reckless” to not support the BBC, adding “it’s a place which embraces everyone”. The broadcaster added: “If you look at the figures, it’s still doing well, even though a very substantial part of its income has been removed.” Roxy Music lead guitarist Phil Manzanera, 73, was formally made an OBE by the Princess Royal for his services to music. His most well-known band, featuring singer Bryan Ferry, is famed for hits such as Love Is The Drug and More Than This – topping the singles charts once with a cover of John Lennon’s Jealous Guy. Discussing the honour, Manzanera told the PA news agency: “It’s very moving and humbling to be amongst all these people who do absolutely incredible things. “But, obviously, I am very happy to get it for services to music and music production, because I think music helps us all in our lives in terms of improving the fabric of our lives, and it’s a great support for so many people.” The musician said he discussed his upbringing in South America and central America with Anne, having grown up in Colombia, Venezuela and Cuba. Manzanera said Anne told him that her father, Prince Philip, “once flew a Viscount plane to Caracas airport”. He said his upbringing was central to his musicianship, adding: “It’s in my DNA, the rhythms of South America. “And the musicians that we’ve all come to know through the Buena Vista Social Club were the kind of music that I started playing guitar with. “It wasn’t Bert Weedon’s Play in a Day for me, it was the music of Cuba.” Actress Shobna Gulati, 58, was formally made an MBE for services to the cultural industries, Scottish professional golfer Stephen Gallacher, 50, was made an MBE and former Arup deputy chairwoman Dervilla Mitchell, 66, received a damehood for services to engineering.
NoneLUBBOCK, Texas (AP) — Tahj Brooks ran for a season-high 188 yards and three touchdowns in the final home game for Texas Tech's all-time leading rusher, and the Red Raiders rolled to a 52-15 victory over West Virginia on Saturday. Texas Tech (8-4, 6-3 Big 12) kept alive faint hopes for a bid in the Big 12 championship game by winning at least eight games in the regular season for the first time since 2009 under the late Mike Leach. The Red Raiders scored at 50 points for the second week in a row and had a resounding response to consecutive home losses. “It was a big deal for us to play well at home,” coach Joey McGuire said. “Our last two home games, we’ve had incredible crowds that had great energy, that had our backs and we played really, really bad. We were embarrassed.” Garrett Greene threw an interception and lost a fumble on Terrell Tilmon's strip sack in the final three minutes of the first half as the Mountaineers (6-6, 5-4) raised more questions about the future of coach Neal Brown by falling behind 35-3 before the break. Behren Morton threw for 359 yards and two touchdowns, including a 31-yarder to Caleb Douglas to put Texas Tech in front 42-3 early in the second half. Josh Kelly had 150 yards receiving. “I don’t think the first half of football defines who they are, who they are as individuals, who we are as a team,” Brown said of the Mountaineers. “Not pleased with that.” McGuire, who will have his third winning record in three seasons, called timeout with 5:57 remaining and his team leading 45-15 to take Brooks out of the game. Brooks was mobbed by teammates as the crowd gave him a standing ovation. Brooks ran for at least 100 yards in all 11 regular-season games he played, breaking the single-season school record of 10 he shared with Byron Hanspard and Bam Morris. Brooks pushed his career total to 4,557 yards in his first home game since breaking Hanspard's 1996 school record of 4,219 yards two weeks ago at Jones AT&T Stadium. Two of Brooks' TDs came on 2-yard runs from direct snaps, and the other was a 37-yarder when he stumbled on a cut but stayed on his feet and bounced off defensive back Ty French. Brooks has 17 TDs rushing this season and 45 for his career. Brooks set up one of his short TDs with a 30-yard catch. Jahiem White ran for 124 yards with a spinning 21-yard touchdown for West Virginia, and Greene had a 15-yard scoring toss to Rodney Gallagher III. Greene threw two picks. The takeaway West Virginia: A perfect season on the road in the Big 12 ended with a thud. The Mountaineers were 3-0 away from home in conference before allowing 29 second-quarter points followed by another TD just 2:12 into the third. Texas Tech: Tight end Jalin Conyers, one of Brooks' fellow seniors playing his final home game, made up a for a dropped pass in the end zone with a juggling, diving catch for 18 yards to set up Morton's 1-yard scoring toss to Mason Tharp. Conyers, an Arizona State transfer, also had a 2-point conversion run on a swinging gate play from the PAT unit. Up next Both teams are eligible for bowl games. At game's end, Texas Tech's fate for a spot in the Big 12 title game was still up in the air. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
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Sparks open 2025 season on May 16 against ValkyriesCYPRESS LAKE, Fla. (AP) — Robert McCray scored 21 points as Jacksonville beat Siena 75-64 on Tuesday. McCray added eight rebounds and five assists for the Dolphins (4-3). Zach Bell scored 11 points, going 3 of 5 and 4 of 4 from the free-throw line. Zimi Nwokeji went 3 of 7 from the field (2 for 4 from 3-point range) to finish with 10 points, while adding six rebounds. Gavin Doty finished with 21 points and nine rebounds for the Saints (3-4). Major Freeman added 12 points and four assists for Siena. Tajae Jones also had 11 points. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
Matt Gaetz Now Selling 'Pep Talks' On Cameo App For $250 After Exit From CongressAverage rate on a 30-year mortgage in the US rises to highest level since July
Man City stumble again while Arsenal and Bayern Munich earn dominant winsHONEYWELL AND BOMBARDIER SIGN LANDMARK AGREEMENT TO DELIVER THE NEXT GENERATION OF AVIATION TECHNOLOGY; HONEYWELL UPDATES 2024 OUTLOOK
Zach Kittley finalizing agreement to take over as Florida Atlantic coach, AP source says
WINSTON-SALEM — It wasn’t how Duke drew up the final play, but it worked out perfect for the Blue Devils in Saturday’s 23-17 victory over Wake Forest. Maalik Murphy threw a 39-yard touchdown pass to Jordan Moore as time expired, allowing Duke to end the regular season with three consecutive victories. Murphy said he realized he took too long to make a decision after the last snap. “I knew at that point I had to make a play,” he said. “The damage was already done, time was ticking.” With the score tied at 17, the Blue Devils (9-3, 5-3 Atlantic Coast Conference) moved 76 yards in 1:22 after forcing a Wake Forest punt. It appeared that Duke might run out of time in the slow-developing play, but Moore improvised and broke free along the right side, caught the ball at the 10-yard line and spun into the end zone to complete a comeback from 14 points down in the second half. “The play that Maalik and Jordan put together was magical,” Duke coach Manny Diaz said. “Nobody thought a 5-yard route would turn into a (long) touchdown.” So instead of a long field-goal attempt, Duke had something better. “I just decided to take it down the field,” Moore said. “I think that’s a testament to our chemistry. ... Maalik had the confidence in himself to make that kind of play.” It resulted in Duke’s sixth victory by seven points or less. “It’s like a perfect exclamation point to our season,” Diaz said. “An unbelievable way to finish our season.” Murphy racked up with 235 yards on 26-for-34 passing. Moore, who was down with an injury after a reception earlier in the second half, made five catches for 98 yards. Hank Bachmeier threw for 207 yards and a touchdown as Wake Forest (4-8, 2-6) ended its second straight four-win season with a four-game losing streak. “A heartbreaking loss,” Demon Deacons coach Dave Clawson said. “It’s a tough way to lose a game and a tough way to end the season.” Tate Carey’s 8-yard run, Matthew Dennis’ 37-yard field goal and Horatio Fields’ 9-yard reception across 11 minutes of game time gave Wake Forest a 17-3 lead with nine minutes left in the third quarter. Duke took advantage of a short field following a punt, moving 42 yards in four plays to score on Star Thomas’ 3-yard run. The Blue Devils recovered a fumble on the ensuing kickoff and converted on Murphy’s 2-yard run with 12:57 left to pull even. “What has been proven is that we’re mentally tough,” Diaz said. “We’re not going to do everything perfect.” Taylor Morin became Wake Forest’s all-time leader in receiving yards with 2,974. He picked up 47 yards on eight catches on Saturday. Morin, in his fifth season, passed former NFL player Ricky Proehl, who had 2,929 yards in the late 1980s. Duke: The Blue Devils have secured at least a nine-win season for the second time in three seasons, this one coming in Diaz’s first season. They racked up a 4-0 record against in-state opponents, including comebacks to top North Carolina and Wake Forest. “Every quest that we have for championships starts in our own state,” Diaz said. Wake Forest: The Demon Deacons punted on their final three possessions of the season. They finished with a 1-6 record in home games. “It’s been a tough year, a long year, and I’m proud of our team and how hard they fought,” Clawson said. Duke: Awaits a bowl invitation Wake Forest: Enters the offseason with a losing record for the third time in five seasons. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-footballTrutanklessTM Shipping GEN3: Redefining Electric Tankless Water Heating
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Quest Partners LLC increased its holdings in QuickLogic Co. ( NASDAQ:QUIK – Free Report ) by 5,067.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,955 shares of the semiconductor company’s stock after purchasing an additional 10,743 shares during the period. Quest Partners LLC’s holdings in QuickLogic were worth $84,000 as of its most recent filing with the Securities and Exchange Commission. Several other institutional investors and hedge funds also recently bought and sold shares of the business. Cutter & CO Brokerage Inc. bought a new position in QuickLogic in the 3rd quarter worth approximately $106,000. Squarepoint Ops LLC boosted its holdings in QuickLogic by 194.3% in the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after buying an additional 36,409 shares during the period. Marshall Wace LLP boosted its holdings in QuickLogic by 118.4% in the 2nd quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after buying an additional 39,878 shares during the period. XTX Topco Ltd bought a new position in QuickLogic in the 2nd quarter worth approximately $127,000. Finally, American Century Companies Inc. boosted its holdings in QuickLogic by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock worth $196,000 after buying an additional 3,750 shares during the period. 31.54% of the stock is owned by institutional investors. QuickLogic Stock Down 1.4 % Shares of NASDAQ:QUIK opened at $7.63 on Friday. The firm has a fifty day moving average price of $7.87 and a two-hundred day moving average price of $9.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05. QuickLogic Co. has a one year low of $6.75 and a one year high of $20.75. The company has a market cap of $112.21 million, a price-to-earnings ratio of -76.30 and a beta of 1.56. Insider Buying and Selling In other news, CFO Elias Nader sold 4,458 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $7.42, for a total value of $33,078.36. Following the completion of the sale, the chief financial officer now directly owns 52,740 shares in the company, valued at approximately $391,330.80. The trade was a 7.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink . Also, VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.95, for a total transaction of $69,500.00. Following the completion of the sale, the vice president now directly owns 108,004 shares of the company’s stock, valued at $750,627.80. This trade represents a 8.47 % decrease in their position. The disclosure for this sale can be found here . 2.49% of the stock is owned by company insiders. Wall Street Analyst Weigh In Several research analysts recently commented on the stock. StockNews.com raised shares of QuickLogic to a “sell” rating in a report on Wednesday, November 20th. Oppenheimer cut their price target on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, Craig Hallum cut their price target on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Get Our Latest Analysis on QuickLogic About QuickLogic ( Free Report ) QuickLogic Corporation operates as a fabless semiconductor company in the United States. The company offers embedded FPGA intellectual property, low power, multicore semiconductor system-on-chips, discrete FPGAs, and AI software; and end-to-end artificial intelligence/machine learning solution with accurate sensor algorithms using AI technology. Read More Want to see what other hedge funds are holding QUIK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QuickLogic Co. ( NASDAQ:QUIK – Free Report ). Receive News & Ratings for QuickLogic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuickLogic and related companies with MarketBeat.com's FREE daily email newsletter .What's next for Gautam Adani after U.S. bribery, fraud charges?
Editorial: This Thanksgiving, be grateful for those who work the landLord of the Rings has always been one of the most beloved franchises ever created. However, 2024 has been an especially big year for Tolkien fans. We got The Rings of Power season 2, a new movie (The Hunt for Gollum) confirmed, and then there is the upcoming anime The Lord of the Rings: The War of the Rohirrim coming out on December 13. So, what better way to celebrate a year of Middle-earth domination than with one of the best Cyber Monday book deals out right now as well? Amazon is currently selling the hardcover of The Lord of the Rings Illustrated for $40.37 (was $90) . If you are unfamiliar with this version of Tolkien's epic, The Lord of the Rings Illustrated includes thirty-two of Tolkien's own full-color illustrations and maps. There's also a sewn-in ribbon bookmark, pages from the Book of Mazarbul, two removable fold-out maps, and a gorgeous red edge on the pages. This must-have collector's item is now 55% off, significantly cheaper than its base $90.00 price tag. So, instead of watching all the Lord of the Rings movies in order again, it's the perfect time to pick up the novel that started it all. Should you buy The Lord of the Rings Illustrated? The big factor that you should consider if you are thinking about buying The Lord of the Rings Illustrated is if you are interested in owning Tolkien's literary work. And if you already own Tolkien's novels, is the inclusion of full color illustrations done by the man himself enough to entice you to add this edition to your collection. For myself (a self-proclaimed mega fan), it's an easy yes. However, it may be a tough sell if you're looking for a casual page turner or would prefer a movie marathon instead. For all the fans who are still interested in this deal, I also have to mention the fact that we'll likely be getting another edition in 2028. 2028 marks The Lord of the Rings 60th birthday, so I can't imagine there not being a new fancy edition to celebrate. While The Lord of the Rings Illustrated is gorgeous, there's also the possibility of it being overshadowed in a few years, so you may want to hold off if you are pressed for cash and want to have more options. However, saying all that, a 55% discount is a great bargain, and with all the upcoming Lord of the Rings hype heading our way, I imagine that there will be an increase in demand for books soon. You may want to pick up this edition while you can. For myself, the fact that so much love and appreciation for Tolkien has been put into The Lord of the Rings Illustrated makes it one of the best gifts this holiday season. From its cover to the drawings, it's a luxury item for book lovers for sure. But with it's new price tag of $40, this deal is good enough to even drag Gollum's attention from the One Ring this Cyber Monday deals period. For more deals, check out our guide on the best Cyber Monday gaming deals and the best Cyber Monday Lego deals right now.
CHARLOTTE, N.C. , Dec. 2, 2024 /PRNewswire/ -- Honeywell (NASDAQ: HON) announced the signing of a strategic agreement with Bombardier, a global leader in aviation and manufacturer of world-class business jets, to provide advanced technology for current and future Bombardier aircraft in avionics, propulsion and satellite communications technologies. The collaboration will advance new technology to enable a host of high-value upgrades for the installed Bombardier operator base, as well as lay innovative foundations for future aircraft. Honeywell estimates the value of this partnership to the company at $17 billion over its life. "This is a tremendous opportunity to co-innovate and advance next generation technologies, including Anthem avionics and engines," said Vimal Kapur , Chairman and CEO of Honeywell. "Growing our long-term collaborative relationship with Bombardier is directly connected to Honeywell's focus on compelling megatrends -- automation, the future of aviation, and energy transition." "This new partnership creates unprecedented opportunities for Bombardier," said Eric Martel , President and Chief Executive Officer of Bombardier. "Honeywell's differentiated technology is the key reason we decided to collaboratively build a bright future with them." Honeywell and Bombardier will collaborate on the development of Honeywell avionics to provide unparalleled adaptability to specific mission requirements, enabling exceptional situational awareness and enhanced safety. In addition, the collaboration's propulsion-based workstreams will focus on evolutions of power, reliability and maintainability, led by the next-generation model of Honeywell's HTF7K engine. "Working together, we will generate significant value for Bombardier's operator base by providing the latest technologies to enable safe and efficient flight," said Jim Currier , President and CEO of Honeywell Aerospace Technologies. "We are committed to investing in these key technologies with Bombardier, which will not only drive substantial growth for Honeywell, but lead the industry further into the future of aviation." As part of the partnership, Bombardier and Honeywell will work together to certify and offer JetWave X for the Bombardier Global and Challenger families of aircraft for both new production and aftermarket installations. Bombardier will also have access to Honeywell's full suite of next generation L-Band satellite communications products and antennas that will provide future safety services capabilities. Additionally, all legacy pending litigation between the companies has been resolved. Honeywell Updates 2024 Outlook While the commercial agreement impacts near-term Honeywell financials, the company is confident it will lead to long-term value creation for Honeywell shareowners. Given the required investments associated with this agreement, Honeywell has updated its full-year sales, segment margin 2 , adjusted earnings per share 2,3 , and free cash flow guidance 1 . A summary is provided in the table below. TABLE 1: FULL-YEAR 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $38.6B - $38.8B ($0.4B) $38.2B - $38.4B Organic 1 Growth 3% - 4% ~(1%) ~2% Segment Margin 2 23.4% - 23.5% (0.8 %) 22.6% - 22.7% Expansion 2 Down 10 - Flat bps (80 bps) Down 90 - 80 bps Adjusted Earnings Per Share 2,3 $10.15 - $10.25 ($0.47) $9.68 - $9.78 Adjusted Earnings Growth 2,3 7% - 8% (5 %) 2% - 3% Operating Cash Flow $6.2B - $6.5B ($0.4B) $5.8B - $6.1B Free Cash Flow 1 $5.1B - $5.4B ($0.5B) $4.6B - $4.9B TABLE 2: FOURTH QUARTER 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $10.2B - $10.4B ($0.4B) $9.8B - $10.0B Organic 1 Growth 2% - 4% (4 %) (2%) - Flat Segment Margin 2 23.8% - 24.2% (2.9 %) 20.9% - 21.3% Expansion 2 Down 60 - 20 bps (290 bps) Down 350 - 310 bps Adjusted Earnings Per Share 2,3 $2.73 - $2.83 ($0.47) $2.26 - $2.36 Adjusted Earnings Growth 2,3 1% - 5% (17 %) (16%) - (12%) 1 See additional information at the end of this release regarding non-GAAP financial measures. 2 Segment margin and adjusted EPS are non-GAAP financial measures. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from certain items excluded from segment margin or adjusted EPS. We therefore, do not present a guidance range, or a reconciliation to, the nearest GAAP financial measures of operating margin or EPS. 3 Adjusted EPS and adjusted EPS V% guidance excludes items identified in the non-GAAP reconciliation of adjusted EPS at the end of this release, including the impact of amortization expense for acquisition-related intangible assets and other acquisition-related costs, and any potential future items that we cannot reliably predict or estimate such as pension mark-to-market. Bombardier, Global and Challenger are trademarks of Bombardier Inc. or its subsidiaries. Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends - automation, the future of aviation, and energy transition - underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations that help make the world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom . Honeywell uses our Investor Relations website, www.honeywell.com/investor , as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media. We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Appendix Non-GAAP Financial Measures The following information provides definitions and reconciliations of certain non-GAAP financial measures presented in this press release to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP). Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. Management believes the change to adjust for amortization of acquisition-related intangibles and certain acquisition- and divestiture-related costs provides investors with a more meaningful measure of its performance period to period, aligns the measure to how management will evaluate performance internally, and makes it easier for investors to compare our performance to peers. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Other companies may calculate these non-GAAP measures differently, limiting the usefulness of these measures for comparative purposes. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of these non-GAAP financial measures are that they exclude significant expenses and income that are required by GAAP to be recognized in the consolidated financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Investors are urged to review the reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures and not to rely on any single financial measure to evaluate Honeywell's business. Honeywell International Inc. Definition of Organic Sales Percent Change We define organic sales percentage as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures, for the first 12 months following the transaction date. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Operating Income to Segment Profit, Calculation of Operating Income and Segment Profit Margins (Unaudited) (Dollars in millions) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2023 Operating income $ 1,583 $ 7,084 Stock compensation expense 1 54 202 Repositioning, Other 2,3 569 952 Pension and other postretirement service costs 3 17 66 Amortization of acquisition-related intangibles 76 292 Acquisition-related costs 4 1 2 Segment profit $ 2,300 $ 8,598 Operating income $ 1,583 $ 7,084 ÷ Net sales $ 9,440 $ 36,662 Operating income margin % 16.8 % 19.3 % Segment profit $ 2,300 $ 8,598 ÷ Net sales $ 9,440 $ 36,662 Segment profit margin % 24.4 % 23.5 % 1 Included in Selling, general and administrative expenses. 2 Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. 3 Included in Cost of products and services sold and Selling, general and administrative expenses. 4 Includes acquisition-related fair value adjustments to inventory. We define operating income as net sales less total cost of products and services sold, research and development expenses, impairment of assets held for sale, and selling, general and administrative expenses. We define segment profit, on an overall Honeywell basis, as operating income, excluding stock compensation expense, pension and other postretirement service costs, amortization of acquisition-related intangibles, certain acquisition- and divestiture-related costs and impairments, and repositioning and other charges. We define segment profit margin, on an overall Honeywell basis, as segment profit divided by net sales. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of operating income to segment profit, on an overall Honeywell basis, has not been provided for all forward-looking measures of segment profit and segment profit margin included herein. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of operating income to segment profit will be included within future filings. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle, and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2024(E) 2023 2024(E) Earnings per share of common stock - diluted 1 $ 1.91 $2.03 - $2.13 $ 8.47 $8.76 - $8.86 Pension mark-to-market expense 2 0.19 No Forecast 0.19 No Forecast Amortization of acquisition-related intangibles 3 0.09 0.17 0.35 0.50 Acquisition-related costs 4 — 0.02 0.01 0.10 Divestiture-related costs 5 — 0.04 — 0.04 Russian-related charges 6 — — — 0.03 Net expense related to the NARCO Buyout and HWI Sale 7 — — 0.01 — Adjustment to estimated future Bendix liability 8 0.49 — 0.49 — Indefinite-lived intangible asset impairment 9 — — — 0.06 Impairment of assets held for sale 10 — — — 0.19 Adjusted earnings per share of common stock - diluted $ 2.69 $2.26 - $2.36 $ 9.52 $9.68 - $9.78 1 For the three months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 660.9 million. For the twelve months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 668.2 million. For the three and twelve months ended December 31, 2024, expected earnings per share utilizes weighted average shares of approximately 653 million and 655 million, respectively. 2 Pension mark-to-market expense uses a blended tax rate of 18%, net of tax benefit of $27 million, for 2023. 3 For the three and twelve months ended December 31, 2023, acquisition-related intangibles amortization includes $62 million and $231 million, net of tax benefit of approximately $14 million and $61 million, respectively. For the three and twelve months ended December 31, 2024, expected acquisition-related intangibles amortization includes approximately $110 million and $330 million, net of tax benefit of approximately $30 million and $85 million, respectively. 4 For the three and twelve months ended December 31, 2023, the adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $2 million and $7 million, net of tax benefit of approximately $0 million and $2 million, respectively. For the three and twelve months ended December 31, 2024, the expected adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $20 million and $65 million, net of tax benefit of approximately $5 million and $15 million, respectively. 5 For the three and twelve months ended December 31, 2024, the expected adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, is approximately $25 million, net of tax benefit of approximately $5 million. 6 For the three and twelve months ended December 31, 2023, the adjustments were a benefit of $2 million and $3 million, without tax expense, respectively. For the twelve months ended December 31, 2024, the expected adjustment is a $17 million expense, without tax benefit, due to the settlement of a contractual dispute with a Russian entity associated with the Company's suspension and wind down activities in Russia. 7 For the the twelve months ended December 31, 2023, the adjustment was $8 million, net of tax benefit of $3 million, due to the net expense related to the NARCO Buyout and HWI Sale. 8 Bendix Friction Materials ("Bendix") is a business no longer owned by the Company. In 2023, the Company changed its valuation methodology for calculating legacy Bendix liabilities. For the three and twelve months ended December 31, 2023, the adjustment was $330 million, net of tax benefit of $104 million, (or $434 million pre-tax) due to a change in the estimated liability for resolution of asserted (claims filed as of the financial statement date) and unasserted Bendix-related asbestos claims. The Company experienced fluctuations in average resolution values year-over-year in each of the past five years with no well-established trends in either direction. In 2023, the Company observed two consecutive years of increasing average resolution values (2023 and 2022), with more volatility in the earlier years of the five-year period (2019 through 2021). Based on these observations, the Company, during its annual review in the fourth quarter of 2023, reevaluated its valuation methodology and elected to give more weight to the two most recent years by shortening the look-back period from five years to two years (2023 and 2022). The Company believes that the average resolution values in the last two consecutive years are likely more representative of expected resolution values in future periods. The $434 million pre-tax amount was attributable primarily to shortening the look-back period to the two most recent years, and to a lesser extent to increasing expected resolution values for a subset of asserted claims to adjust for higher claim values in that subset than in the modelled two-year data set. It is not possible to predict whether such resolution values will increase, decrease, or stabilize in the future, given recent litigation trends within the tort system and the inherent uncertainty in predicting the outcome of such trends. The Company will continue to monitor Bendix claim resolution values and other trends within the tort system to assess the appropriate look-back period for determining average resolution values going forward. 9 For the twelve months ended December 31, 2024, the expected impairment charge of indefinite-lived intangible assets associated with the personal protective equipment business is $37 million, net of tax benefit of $11 million. 10 For the twelve months ended December 31, 2024, the expected impairment charge of assets held for sale is $125 million, with no tax benefit. Note: Amounts may not foot due to rounding. We define adjusted earnings per share as diluted earnings per share adjusted to exclude various charges as listed above. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward-looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments, and other relevant factors, these assumptions are subject to change. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Expected Cash Provided by Operating Activities to Expected Free Cash Flow (Unaudited) Twelve Months Ended December 31, 2024(E) ($B) Cash provided by operating activities ~$5.8 - $6.1 Capital expenditures ~(1.2) Free cash flow ~$4.6 - $4.9 We define free cash flow as cash provided by operating activities less cash for capital expenditures. We believe that free cash flow is a non-GAAP measure that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock, or repay debt obligations prior to their maturities. This measure can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Stacey Jones Sean Meakim (980) 378-6258 (704) 627-6200 stacey.jones@honeywell.com sean.meakim@honeywell.com View original content to download multimedia: https://www.prnewswire.com/news-releases/honeywell-and-bombardier-sign-landmark-agreement-to-deliver-the-next-generation-of-aviation-technology-honeywell-updates-2024-outlook-302320054.html SOURCE Honeywell