and Vimal, morning, Thanks, good everyone.
X% which the expect an $XX for shared, overall total Given the represents range to for X% sales to sales just XXXX, backdrop we growth Vimal year. $XX in organic of billion, billion of
needed inflation, in contributions volume impact to expect and the balance XXXX. more While where we'll offset we between pricing to the actions cost price continue of drive of
year, slower chains in year sequentially and headwinds the to the are first first throughout strongest the zero China the from will supply of potential in of year as believe last half we COVID Similar policies quarter. the improve reversal be
in encouraging in should remains growth further this aftermarket, sales. commercial and normalizes travel demand particularly aviation fuel air in expect we continued open In added borders and China wide-body the backdrop flight hour Aerospace, and very the commercial aftermarket in change defense provide international drive to In as transport The policy to dynamic. space. both growth,
OEMs deliveries margins. rate Honeywell, year-over-year, to translating to schedules driving commercial growth, the are for the leading set in revenue OE into On increase a corresponding side, also credits, a ship headwind upwards selection more but trending build among
in has return XXXX. gating In factor team book the Defense constraints, recent to our XXXX, commercial we're volume to encouraged demand, improves. XXXX in and strong convert resulting in expect output supply executed both defense growth into growth Space, in the we in plan the to Supply X% improvements chain to months, by order remain but defense as not sales and and our growth chain
but backlog sourcing X in than quarter, improved Aero XXXX levels suppliers. in for to The We our for the electronic skilled environment constrained among growth projections. shortages with supply past labor remains us more higher that Tier XX% components chain confidence and Aerospace entered components the X due year-over-year, giving over mechanical are
high single-digit the low For year to overall in Aero, growth organic double-digit be we range. for expect to the
top modest credits we increased our the only as strongest leverage margin OE by Aerospace expansion line While to XXXX, mix largely will likely volume offset in year-over-year be is grower in business. due expect unfavorable selection increased commercial
of private cognizant we're broader costs. economic financing Technologies, continue and non-res Building environment to be increased impacted by In in the investment expect to construction
result However, provides a that solid buffer throughout partially visibility XXXX, of of sales the slate built as XXXX. a environment for chain orders, strong we and supply
this as capitalize yet we coming most year robust that book-to-bill believe funds in we verticals businesses. investment a buoyed robust these management growth key as will and addition, supporting stimulus by sales on remain XXXX projects and see such systems have In that building not institutional government building the education, significant We deployed, been healthcare. airports from
also supply We incremental throughout normalizes, for our building spot services orders the chain the expect layering year demand in. increased as
overall remain growth overall. For our year early single-digit current the anticipate backlog HPT, organic in environment, low support to XXXX strong sales in cautious we the expecting for and us
our energy of long-term with we much efficiency. portfolio our sustainability as Technologies framework very Building in However, remain secular for confident trends of and aligned is
On in the exit momentum the segment margins, XXXX we expect carry expansion from full the rate, for year-over-year to year. strong resulting
year growth Services XXXX build Lifecycle PMT, by will and year. another throughout growth with upon of year enable Solutions Process sales convert into solutions. another conditions built the up an thermal macro sequentially led to in through Solutions we and In XXXX Backlog and set favorable impressive solid are
already as comps upside. improved UOP, the support to that In has a headwinds we sales potential provide will lap lost for Russian business
robust Our a Demand capacity new shipments will to should Process be continue LNG offset Russian year. in poised fourth catalyst our to tailwind, to also the the particularly quarter growth Technologies lost while business. is energy XXXX, business for remain returned and supply at grow to throughout for
demand comps, improvements. continue will to difficult products supply growth Materials, despite our Advanced Solstice chain thanks In and strong for
In reduction such app sustainable legislation, will Solstice, as offerings responsibility. increased benefit our other inflation addition and customer focus on to from environmental the
up XXXX. modestly a mid-single margins Sustainable digits XXXX. and PMT In Orders of dramatically end expand two Technology million accelerated continue have to expecting productivity the should Solutions be PMT by we of we're years, business more expect our the XXXX past continued $XXX sales same leverage of result in as we improved as actions. over total, and our volume pricing and sales target in for towards the
and Productivity our year impacted environment trough most this in business by to And demand XXXX. in the Turning with Safety near-term to before XXXX. capacity will warehouse growth business limit new will in opportunities to the investment the likely projects be in long-cycle decreased That continue Solutions. macroeconomic returning Intelligrated, and coming
However, services and And double-digit in should in will short-cycle softness XXXX. first sequential sales taper half destocking to we later solutions the 'XX, expect we growing distributor continue in demand off our and to expect see dynamic rates, year. been this productivity the the business that of aftermarket has at and impact improvement services, but and
safety business for In down strong a expect in SPS, finish 'XX year XXXX. will In continue after benefit another from improved From sales be a total, mix be we drive to growth margin improvements. the as to should year. to SPS sensing single mid our operational and continue high 'XX we sales digits standpoint, and technologies, to for solid
rates margin XXXX. a will be achievable for standard high the are new business high-teen necessarily believe not forward, While and was 'XX we the XQ moving watermark in
excellence our last to year, year, 'XX supported higher the by Similar we to and build productivity overall operational XX volumes, actions. our commercial next SPS XX continue margin benefit from points expand to as So to expand structure expect cost improved in in our that sales margins to and continued we efforts segment and on most, improvements we expect basis mix business.
up $X.XX earnings to year, to income. the despite headwind of $X.XX adjusted, an $X.XX, approximately share lower we flat For expect per X% pension from
range Excluding $X.XX to this adjusted. impact, our X% have would XX% up adjusted to $X.XX, been EPS
UOP a cash HWI of in billion, front, $X.X onetime $X.X $X.X we or XXXX to $X.X net billion the to excluding the On and impact billion flow billion billion expect $X.X free of matters. range NARCO,
and takes in I'll puts turn EPS cash for first, slide couple through walk the our a our minutes. and bridge But let's of to detail through in for greater flow 'XX XXXX. seven walk
As the you expected the is key tax, the will earnings profit of and repositioning, used range. which between is lower includes range our in approximately is for than negative be million, midpoint Net can difference see, of segment before at profit $XXX million to to $XXX million $XXX guidance in to $XXX of the driver million $XXX of 'XX, our which capacity be contributing income below-the-line million in impact, growth segment 'XX. we the $X.XX which
tax the we expect approximately effective of rate for an tax, year. For XX%
these interest excluding items, other by pension, offset up repositioning net be are $X.XX charges, midpoint primarily year-over-year driven expense. of and asbestos lower to expected higher inputs at the guidance, With by and line below partially the share per
share our for count weighted million minimum share, million reducing case in result count, in For a is from benefit program to will X% average the of approximately XXX share base $X.XX count that per approximately reduction share XXXX. our our XXXX XXX
decline a pension expect and a income this in we large increased OPEB communicated, previously the result environment. of year, rate we as interest As
down about and $XXX year, of expect to the from driving $XXX headwind we income, XXXX, approximately full pension about $X.XX For OPEB million million EPS.
'XX that position shareholders. needed. item no noncash of be of and pension-funded status will and ended returns, this status contributions overfunded in diligent result employees to over a a a pension our with for accounting However, strong We as great as incremental XXX%, are management ensure is a our
In $X.XX, per on in range an flat to up year-on-year to to share X% total, of earnings we expect the be 'XX adjusted basis. $X.XX
our However, the X% impact to $X.XX pension midpoint. excluding of would a guidance $X.XX, headwinds, be non-cash the at range of up
talk for X slide XXXX. of to let's drivers cash guidance Now turn our the about and free
progress XXXX story as cash expect a we've strong largest of and growth capital items. outlined Income normalizes. cash is to bridge, we flow performance the in chain be free driver As make by offset discrete working characterized free this year as operational the further our can few on the non-operational flow, supply
as legacy range cash the free the excluding are XXXX we billion cash for of matters spoken billion, XXXX of previously we free to Accounting $X.X $X.X the discussed expecting settlements, X% to between expect for flow we flow, range $X.X to up at year-over-year settlement the earlier, We midpoint $X.X billion about. in billion. had legal the
QX. discuss Now can slide to we let's turn guidance our X, for and
constrained, providing we potential closely highlighted are XXXX we chains wary record country its earlier, As COVID We're impacts the foundation the modest in Zero volumes. China and sequential with the quarter. entered anticipate monitoring of backlog, policy however, we improvement first QX of as changes a impacts. restrictions for solid remain eased in COVID Supply and reopens
demand as However, that second changes positive a policy a we be in robust these throughout year result the will and China. for progress anticipate in we net half will
at segments. the Looking
growth We we in and quarter expect the execute first demand in strong remains sales robust, backlog. our environment as on Aerospace the
full XQ will supply of we the subdued expectations growth the rate the constrained more anticipate than most be be However, year for our as will quarter.
followed modest growth increased we through heal. Technologies, see sales backlog continues our quarter by Building We and growth chain anticipate the of to in sales organic In first building supply as in projects, strongest fire. work the we sales the
PMT, another quarter growth expect In we in year-over-year XQ. of
plants will to with embedded by is downtime, that that though that some the our in growth with year-over-year advanced unplanned strong our we We're in led cause one guidance. sorry, disruption expecting, still growth. of experienced expect materials We be a though again laggard, PMT Process Solutions, once
decline will aftermarket growth and Productivity demand of the sensing our automation services Intelligrated and sensing offset in to part year-over-year warehouse a Safety in leading and In and safety technologies Solutions, softness sales. short-cycle business,
the high another expect strong in margin we teens. However, performance
the the in billion we of billion up X% to sales $X.X anticipate quarter, to X% So range first in organically. for overall Honeywell, $X.X
XX.X% is points and we our mix. XX.X%, in of margins range expect below business as in We the favorable diligent to to up $XX our between the to XX line continue to $XXX from million XX repositioning net be of million range and expense capacity year-over-year with remain provide efforts. expected benefit to of million fund $XXX transformational The impact basis to we a an million price/cost management between $XXX as
effective to to the be and the for rate expect be the count XX% XXX average million We tax to approximately share in of quarter range XX% shares.
As a result, income. we or the year-over-year excluding expect first quarter EPS to of between non-cash $X.XX to X% up and XX%, impact X% lower $X.XX, down year-over-year X% up pension
liabilities And be related paid to quarter lastly, a already the a flow in net in lowest to cash cash payments first is the legal our operations settlement expect January, we and while out historically from use the aforementioned from perspective, free XQ. were
a level operational while prudent caution, maintain portfolio we're in of our Overall, confident technologies. our we differentiated abilities and of
to businesses innovate well the long-term support we'll continue portfolio and the in stage for invest Our and of positioned cycle, to this growth. is
over call Darius the on with slide turn Now that, I'll back to XX.
