Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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Honeywell International Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Net sales exhibited a general expansionary trend over the analyzed period, increasing from 8.45 billion in March 2021 to a peak of 10.41 billion in September 2025. While product sales provided the primary volume, they displayed higher volatility compared to service sales. Service sales demonstrated consistent and steady growth, rising from 2.05 billion in the first quarter of 2021 to 3.28 billion by March 2026, indicating a strategic shift or organic growth in the recurring revenue stream.
- Profitability and Margin Analysis
- Gross profit showed a positive trajectory for the majority of the period, climbing from 2.75 billion in March 2021 to a peak of 4.02 billion in June 2025. This growth suggests an improvement in production efficiency or pricing power. However, a sharp contraction occurred in December 2025, where gross profit fell to 2.80 billion, correlating with a significant dip in net sales for that quarter.
- Operating Expense Trends
- Research and development expenses increased steadily, rising from 350 million in March 2022 to a peak of 497 million in September 2025, signaling increased investment in innovation. Selling, general, and administrative expenses remained relatively stable, generally fluctuating between 1.2 and 1.4 billion, suggesting disciplined overhead management relative to revenue growth.
- Operational Performance and Impairments
- Operating income trended upward from 1.51 billion in early 2021 to a high of 2.11 billion in June 2025. This trend was abruptly interrupted in December 2025, when operating income fell to -16 million. This collapse was primarily driven by non-recurring impairment charges, specifically a 724 million impairment of goodwill and a 255 million impairment of assets held for sale.
- Net Income and Financial Charges
- Net income attributable to Honeywell mirrored the operational trend, peaking at 1.83 billion in September 2025 before falling to -115 million in December 2025 due to the aforementioned impairments. A subsequent recovery to 821 million was observed by March 2026, although this was tempered by a 239 million loss on debt extinguishment. Additionally, interest and other financial charges showed a persistent upward trend, increasing from 90 million in March 2021 to 356 million by March 2026, indicating a higher cost of debt service over time.