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

Honeywell’s final decision to halt business pursuits in Russia adhering to the country’s invasion of Ukraine is not likely to lead to problems for the firm’s equilibrium sheet, CEO Darius Adamczyk instructed CNBC on Monday.

“It has some implications, but it can be the ideal detail to do, it really is a very little bit north of 1% of our overall shares, and our production presence there is somewhat little,” Adamczyk mentioned in an job interview on “Mad Cash.”

“We’ll see what comes about. We’re checking the situation,” he extra.

The technology firm is a single of hundreds of firms that have stopped or curtailed functions in Russia like Adidas, McDonald’s and Apple. The company declared its decision to “considerably” suspend its actions on March 8.

As for the company’s other probable headwinds, Adamczyk claimed that Honeywell’s supply chain and uncooked content fees have been manageable. Honeywell’s fourth quarter earnings fell small of expectations past thirty day period thanks to offer chain problems, between other components. 

“We have really done a very good task of safeguarding that enterprise. Titanium is anything we enjoy incredibly closely and some of the components there, but we’ve been a tiny bit forward of the game and secured sources of source, so we’re in quite good form there.”

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

When asked about future options, Adamczyk claimed that the enterprise ideas to invest in $4 billion value of shares, which he considers to presently be a “bargain,” and look toward making acquisitions.

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