Honeywell settles lawsuit with Bombardier, signs technology agreement, but cuts Q4, FY24 outlook

From Nasdaq.: 2024-12-02 22:19:52

Honeywell International Inc. and Bombardier Inc. have settled a lawsuit regarding the cost of jet engines produced by Honeywell for Bombardier. In addition, Honeywell will provide advanced technology for current and future Bombardier aircraft. Honeywell also lowered its outlook for the fourth quarter and fiscal year 2024. Bombardier has confirmed the settlement in a separate press release, resolving the lawsuit filed in 2016. The terms of the settlement are confidential. The collaboration between Honeywell and Bombardier is estimated to be worth $17 billion over its life, focusing on avionics, propulsion, and satellite communications technologies. Honeywell’s adjusted earnings per share and sales outlook for the fourth quarter and fiscal year 2024 have been revised downwards, impacting the company’s financials in the short term. Wall Street analysts expected higher earnings per share and revenues for both periods.



Read more at Nasdaq.: Honeywell Settles Lawsuit With Bombardier, Signs Technology Agreement; Cuts Q4, FY24 Outlook