Honeywell’s decision to halt organization activities in Russia pursuing the country’s invasion of Ukraine is unlikely to trigger troubles for the company’s equilibrium sheet, CEO Darius Adamczyk advised CNBC on Monday.
“It has some implications, but it truly is the appropriate point to do, it is really a small little bit north of 1% of our over-all shares, and our production existence there is somewhat modest,” Adamczyk mentioned in an interview on “Mad Income.”
“We’ll see what transpires. We are monitoring the predicament,” he added.
The technologies company is a person of hundreds of firms that have stopped or curtailed operations in Russia including Adidas, McDonald’s and Apple. The enterprise declared its decision to “significantly” suspend its routines on March 8.
As for the company’s other doable headwinds, Adamczyk stated that Honeywell’s supply chain and raw content expenditures have been manageable. Honeywell’s fourth quarter earnings fell short of anticipations last month thanks to supply chain troubles, amid other things.
“We have truly performed a fantastic occupation of defending that business. Titanium is a thing we check out quite intently and some of the factors there, but we’ve been a little bit in advance of the sport and secured resources of offer, so we are in quite superior form there.”
Honeywell stock was up .53% at the stop of Monday’s trading session.
When requested about upcoming designs, Adamczyk explained that the enterprise programs to get $4 billion well worth of shares, which he considers to now be a “discount,” and glimpse towards generating acquisitions.
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