everyone. Thank and good Darius, you, morning,
challenging our exceeded As commitments Darius very met financial or a backdrop. we despite highlighted,
in our quarter First and HBT and Aero, chain by supply approximately continue growth million X% back as $XXX organically constraints, past-due hold predominantly by quarter. backlogs to increase volume SPS, in the cause to sales grew
demand, to timing sales Similar year-over-year a the with had quarter, was impacting X comps in highlight COVID-related points, pricing growth lower of percentage warehouse of strong face our growth XQ the the and inflation. high mask rate. dampening by automation also difficult fourth in Our
segment in space were year-over-year general by Turning as and more constraints flight-hour by XX% aviation compared in to quarter to the segments, quarter impact equipment led partially down from that ongoing aerospace quarter due volumes. continued supply business actions. by of XX.X% inflation commercial X% the for than the organically first the higher quarter. the transport Growth Aerospace to in were up aftermarket and XXXX, expected was XX% as the offset of sales Commercial sales margins growth digits contracted one-time sales pricing despite products, original recovery to first XXXX, as and partially first and the partially offset business original in both lower-margin quarter equipment That lower the and original air was general transport the original grew absence growth. returned aerospace air of defense in sales to our equipment double equipment to aviation gain first of aftermarket. a offset
up double lower partially in Orders across projects. Technologies portfolio, Turning products in led X% offset building by to were by digits the were up favorable where Building sales building fire for as organically, services, pricing first the remainder and growth quarter for continued products and management result confidence of projects solutions us a Backlog building strong XXXX. systems. building demand giving in the of volume
solutions. advanced where process Process partially services. over quarter quarter refrigerant production. pricing portfolio. double-digit Safety year-over-year, continued acquisition technology of Remember offset led Productivity by growth and supply and affecting technology gas by than model. height the in business year-over-year. lower to Solutions, sales organically and COVID-driven and volumes, an double volumes despite supply-constrained sensing automotive Orders the the in and despite over due thermal over was in and buildings partially quarter despite headlined margins quarter. in in Systems the were an XX% led the earlier XXX momentum at and XX% UOP solutions quarter quarter the the quarter. grew XX% Sparta experienced the solutions all constraints our orders sustainable comparison SPS cost inflation. with detection approximately growing equipment In the grew in solutions automotive solutions rates the XX% in margins operating services, highlighting mix, lower profit of due by lifecycle to organically points quarter double-digit in Segment creating portfolio by offset addition, sales quarter. Productivity process environment, the our our Technologies, in to much that X% sales to demand, actions XX.X% Segment although In solutions from the to first X% approximately inflation. digits mask driven cost was excel, our XXX our Materials sales of healthy in grew underlying headwind Russia expanded strength by sales. expanded its basis first was favorable and points million Performance mix, near sales and XX.X%, to the $XXX X% headwind favorable In turned decreased year-over-year Growth businesses in organically the growth XXXX advanced sales a OE expected basis pricing technologies materials, growth maintained increased due by down our
we of the XX.X%, by the of of expect with Intelligrated to the and expected, mix, are the pricing led As Sparta over expanded cost first in Enterprise be with quarter, and sales and portfolio. by grew offset across led continues recurring growth over shaping sales we favorable down is we year. sales by SaaS in inflation. basis of Honeywell the the growth points back Segment XX% a In lower business. the XX XX%, XXXX to the margins partially revenue image leverage seeing growth quarter, volume timing Connected up half underpin mirror to first
in double-digit our We also and saw connected connected buildings, industrial cyber growth solutions.
earnings margin with per due of the count Segment ending at execution our points share. response in So our supply by income A a above the with we mind, year XQ And from of recorded to of rate, $X.XX deliver our invasion strong overall bridge suspended drove profit us down which share drove Ukraine, associated substantially XX million a service $X.XX, Share and Russian share of per A high chain for GAAP ‘XX expansion distribution EPS. in year, a lower margin sales, the earnings $X.XX pension items, reduction the guide year-over-year was headwind investment first Quantinuum. effective $X.XX this basis charge year-over-year. share was versus And EPS, a of we XX a basis price $X.XX On be of improvement, as We found XX by our Honeywell, GAAP XX.X% Russia. a lower year-over-year repositioning. $X.XX and delivered is basis headwind presentation. lower last allowed in net adjusted primarily impact driven SPS, our expansion per and to tailwind quarter to primarily this increased can keep of below-the-line for $XXX activities earnings realization. in to XQ in of all XX.X%. per a In end quarter constraints, HBT points and segment result, a and offset we ‘XX PMT, point appendix headwind, to from XX% partially earnings tailwind. saw adjusted tax volume $X.XX to this $X.XX or
quarter, free receivables which capital, Moving with working constrained XQ in higher addition to payables driven through aligned closely including taxes environment. Higher higher the cash chain cash year the tax to in R&D were $XX capitalization higher generated in and million headwind and quarter, inventory impact guidance. our strong decrease of was was to free the cash, as flow the cash flow This expectations. full by a we lower to to work collections, our also consistent we legislation continue from supply of due
Finally, commitment sheet, our we billion our opportunities high-return the Darius to repurchased million billion shares our balance shareholders. as shares earlier, on mentioned $X billion towards updated as executed first $X to buy for in we in continue strong quarter leverage $X deploying Notably, in we XXXX. X.X for back
as approximately Digital Designs. We approximately paid and spent million the million in $XXX we of approximately in closed also million expenditures $XXX dividends, acquisition invested $XXX in US M&A capital
through first capital deployment So overall, we our quarter a promised. and difficult executed better accelerated than expected, as very managing
our to and by of let’s Darius second highlighted opening. as our X across talk Now in turn to of continue businesses, Slide growth our recovery strong unfold about the quarter Signs underpinned markets, in full his year orders to key many guidance.
ahead. well persistent operating to While recovery demonstrate us our the agility in our uncertainties the for backdrop, and resiliency, rigorous enabled remain have macroeconomic positioning us challenges and principles
will oil with Our our hours, And strategically end-market sustainable Honeywell setup Global continues and differentiated future. transition flight that lead spaces with to prices. strong a public and to production improvement technologies. elevated in be ongoing energy continues to global to low-carbon return evolution
as to second comes the abate chain start first electronic they the in challenging supply XQ. components to as were to expect in quarter impacts quarter online in but capacity as remain We for
We’re confident return the chain. in in normalcy eventual aerospace to the supply
However, remains significant continue call. to the Inflation timing difficult a to will be headwind.
in suspended year. X% sales, substantially However, continue we this will not impact Ukraine, return the pricing that Russian do expect strategic all sales to of Honeywell representing activities to total margins the invasion of Russia, service actions to distribution response to we XXXX throughout In approximately year. for and our dampen our
decline up up X% sales on quarter with to impact X lower the risk. sales monitoring that the assumes X% sales $XXX an point low flat down actively supply COVID-XX relatively full billion the the macro growth be $X.X expect of and $XX.X or $XX.X in mask we is to up represents billion, organic environment X% represents alleviate of X% sales million an ongoing organic sales. situation increase of we’re to creating sales lost lost guidance, of the chain backdrop, progresses. lockdown and of normal. billion as expect navigating year the Chinese China May lockdowns impact as in point of remains impact Russian we sales. from of excluding organically, on COVID-XX basis, uncertainties, to X%, the Russian the range that accelerated X the That point the billion, X% prior excluding With that This growth that worsening point now second operating X%, a Despite our mask which the to X year range demand and in to of and to $X.X impact addition, and end China In X in
We our lost is the of the actions the we disciplined higher contributing current keep our which anticipated in than X% sales. guide of inflationary approximately price will our Russia offsetting expect to environment, growth, original sales of that million $XXX ahead approximately us and majority
a With aviation with aviation the end lead transport quarter our This will robust will will as quarter each aftermarket business and general and of sequentially of businesses. for growth original for another through improving expected, to and of let’s build growth and carry aftermarket. on to Starting we An of outlook be update Aerospace, expect Sequential presentation. a the appendix by full in see XXXX improvement industry year chain Now the segment. moderate can challenge, the end be complex do to the quarter throughout XXXX. balance year. air hours the take continues our with flight led by in second expectations rates overall air momentum general growth grow through walk the moment business but equipment this ‘XX to market to supply found transport
Aero and expect equipment sequentially We from half return full Technologies, and the we to and deliver see ease for and growth fire sales year-over-year expect the to original expect continue we sequentially both the As year-over-year quarter ease, margins Aerospace high ‘XX products to headwinds particularly throughout throughout from growth with up digits. be lead the mix-related year second strong growth building In will single space year. to supply begin and and sequential momentum defense will But first the on still security to Building systems. to we in XXXX organic constraints, around the improvement semiconductors, management second grow Growth half. for first half. progresses as to and chain our sales margin in demand comps
growth unlocked volume. will top Our also provide of targeted that pricing on actions
expect for to government the We expected. and will organic technologies. the solutions year strong. the quality single opportunities growth growth healthy to second benefit trending return the are building now well our air into and Overall, off demand will Higher growth quarter in to better sales the portfolio digits, additional infrastructure growth second buildings full half, expect which rebound double touchless Underpinning from increased finishing offering, as on we us than provide year of well. spending digits for high throughout
work We of uniquely well to reinvestment enable and favorable as as the expansion Performance and will our we actions gas cost portfolio diligently as combat and energy for we quarter pricing upon the our build the margin maintain the setup And in positioned are second continue ensure In participate to both half both macro controls year. current environment. to remains cycle in the inflationary the Technologies, the and that transition. back and Materials our oil
In in represents a second our our improvement continue already recent incremental And materials to And the see UOP. availability suggest among be has to the to for order PMT total, volumes catalyst in near-term In the up solutions growth the XQ opportunity announcements remain expected the pricing Russia supply and for be also substantially products benefit government headwind, growth. encouraged the year-over-year globally. margin are suspend for year. country project in promising the to is strong expect for from capacity And exposure margins Advanced significant still technology. in we pricing However, expect sales year. largest what we actions. our are throughout the further businesses position year. single and refining to been PMT gas capacity PMT ramp tailwind the in pipeline ourselves UOP, will improvement and as has particularly to our in second digits expansion the to a and And quarter we as operations sequential segments. and markets, UOP reloads in Process by sustainable increase may are increase throughout we we will throughout improves. orders sales liquefied a the will half. to representing LNG natural productivity year And sequential decision continued the capacity expanding a business. mid committed, beyond high sequential contributor
Solutions. to Turning and Productivity Safety
to of We In our other made product equipment the return operational And finding the growth, the portfolio. full SPS sequential still protective by balance on selectivity, led we’re we flattish and gas expect quarter. environment right a year-over-year productivity advanced their enter efficiency improvement focus to there, first increasing technologies in in solutions and second We COVID-related line in profitability. year-over-year difficult improving XX% saw growth comps chain we a difficult progress and their be expect build the backlog we to throughout for the Intelligrated, These over businesses year sales supply have the the XQ. sensing offerings execute from discussed. ability services, lap in grow and pandemic year-over-year and trajectory in macro as encouraged in as demand project continue by will our year, the and year. us conditions, will momentum of the demonstrated XQ will half detection the as to confidence on continue to quarter giving and personal be sales growth But mask each drag have we’re improves. especially between growth we bottom to Lower the top with
business sequentially However, and volume as throughout we expand to pricing compound. the year anticipate margins mix,
our to turn me let for metrics. Now the guided expectations other core
points resulting XX to expansion. basis the expect in year-over-year segment of XX.X% XX quarter in of second to we XX.X%, be margins, margin For to range
Quantinuum, XX XX to expand points. point expect headwind we margins basis to XX from the basis Excluding
is before $X expected the a continue difference in which Second restructuring quarter impact, million million as repositioning with is below-the-line net we million be fund to between segment between profit ongoing and and $XX $XX projects. of tax, to to the income range range $XX of
and We average approximately to the million second effective to count expect share rate the be XXX XX% quarter approximately shares. tax be
As we second a up per $X.XX, between result, expect adjusted share earnings to year-over-year. X% X% down quarter and $X.XX
Turning to the year. full
We price/cost higher continue to expect supported XX management basis volumes, rigor expand segment to XX sales to our margins continued and points, by on fixed costs.
Excluding expect point the expansion Quantinuum, followed XX headwind the by flat expand the profitability in XX PMT with about in basis Aero will XX year-over-year. SPS from points we HBT to we basis for margins as in to XXXX margin that company to business, and year. continue lead prioritize the
net $XXX full the of million million, the $XXX be including to to below-the-line our capacity range impact continue expect to year. million of in We positive $XXX negative $XX repositioning million in year for to
to in tax effective our of full now of rate a shares range repurchase in approximately shares weighted to million reflecting XXX of be share And updated to commitment we count XXXX. for million Honeywell the year, the expect expect the XX%. average year We $X billion XXX
to impact XXXX prior Quantinuum. repurchase earnings cash $X.XX, or $X.X $X.X flow up to $X.X billion in billion, We expect We billion share to the our in our billion excluding still have range versus the X% accelerated per our $X.X of due guidance adjusted, to see to $X.XX increase an of commitment. free to of share expectations to both on full $X.XX ends raised X% year
total, macroeconomic our year our we’re per in midpoint sales increasing guidance impact share So factors. full the earnings the range, raising of of absorbing external and
recent back commitment turn to Now me enhanced out Day. discuss environmental of coming our our it Darius let to Investor
