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.

Honeywell International Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Product sales	5,867)	4,503)	7,086)	7,119)	5,807)	6,949)	6,590)	6,477)	6,263)	6,728)	6,294)	6,441)	6,310)	6,556)	6,588)	6,684)	6,132)	6,362)	6,233)	6,639)	6,409)
Service sales	3,276)	3,254)	3,322)	3,233)	3,118)	3,139)	3,138)	3,100)	2,842)	2,712)	2,918)	2,705)	2,554)	2,630)	2,363)	2,269)	2,244)	2,295)	2,240)	2,169)	2,045)
Net sales	9,143)	7,757)	10,408)	10,352)	8,925)	10,088)	9,728)	9,577)	9,105)	9,440)	9,212)	9,146)	8,864)	9,186)	8,951)	8,953)	8,376)	8,657)	8,473)	8,808)	8,454)
Cost of products sold	(3,863)	(3,148)	(4,734)	(4,548)	(3,723)	(4,779)	(4,166)	(4,247)	(4,035)	(4,686)	(4,090)	(4,133)	(4,068)	(4,281)	(4,286)	(4,329)	(4,059)	(4,596)	(4,463)	(4,734)	(4,551)
Cost of services sold	(1,741)	(1,812)	(2,127)	(1,781)	(1,740)	(1,639)	(1,813)	(1,609)	(1,548)	(1,515)	(1,580)	(1,493)	(1,430)	(1,488)	(1,308)	(1,331)	(1,265)	(1,340)	(1,283)	(1,269)	(1,158)
Cost of products and services sold	(5,604)	(4,960)	(6,861)	(6,329)	(5,463)	(6,418)	(5,979)	(5,856)	(5,583)	(6,201)	(5,670)	(5,626)	(5,498)	(5,769)	(5,594)	(5,660)	(5,324)	(5,936)	(5,746)	(6,003)	(5,709)
Gross profit	3,539)	2,797)	3,547)	4,023)	3,462)	3,670)	3,749)	3,721)	3,522)	3,239)	3,542)	3,520)	3,366)	3,417)	3,357)	3,293)	3,052)	2,721)	2,727)	2,805)	2,745)
Research and development expenses	(492)	(418)	(497)	(481)	(416)	(426)	(368)	(382)	(360)	(360)	(364)	(375)	(357)	(355)	(387)	(386)	(350)	—)	—)	—)	—)
Selling, general and administrative expenses	(1,310)	(1,416)	(1,296)	(1,428)	(1,310)	(1,405)	(1,398)	(1,361)	(1,302)	(1,296)	(1,252)	(1,262)	(1,317)	(1,249)	(1,228)	(1,306)	(1,431)	(1,203)	(1,152)	(1,207)	(1,236)
Impairment of goodwill	—)	(724)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Impairment of assets held for sale	(263)	(255)	—)	—)	(15)	(94)	(125)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Operating income	1,474)	(16)	1,754)	2,114)	1,721)	1,745)	1,858)	1,978)	1,860)	1,583)	1,926)	1,883)	1,692)	1,813)	1,742)	1,601)	1,271)	1,518)	1,575)	1,598)	1,509)
Loss on debt extinguishment	(239)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other income (expense)	7)	109)	822)	87)	229)	90)	263)	246)	231)	125)	247)	208)	260)	(480)	337)	190)	319)	355)	215)	366)	442)
Interest and other financial charges	(356)	(375)	(354)	(330)	(285)	(291)	(297)	(250)	(220)	(202)	(206)	(187)	(170)	(144)	(98)	(87)	(85)	(80)	(90)	(83)	(90)
Income from continuing operations before taxes	886)	(282)	2,222)	1,871)	1,665)	1,544)	1,824)	1,974)	1,871)	1,506)	1,967)	1,904)	1,782)	1,189)	1,981)	1,704)	1,505)	1,793)	1,700)	1,881)	1,861)
Tax expense	(91)	26)	(363)	(302)	(369)	(254)	(409)	(414)	(396)	(258)	(452)	(403)	(374)	(168)	(432)	(441)	(371)	(351)	(427)	(434)	(413)
Net income from continuing operations	795)	(256)	1,859)	1,569)	1,296)	1,290)	1,415)	1,560)	1,475)	1,248)	1,515)	1,501)	1,408)	1,021)	1,549)	1,263)	1,134)	1,442)	1,273)	1,447)	1,448)
Net income from discontinued operations	—)	133)	—)	—)	171)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net income	795)	(123)	1,859)	1,569)	1,467)	1,290)	1,415)	1,560)	1,475)	1,248)	1,515)	1,501)	1,408)	1,021)	1,549)	1,263)	1,134)	1,442)	1,273)	1,447)	1,448)
Net (income) loss attributable to noncontrolling interest	26)	8)	(34)	1)	(18)	(5)	(2)	(16)	(12)	15)	(1)	(14)	(14)	(2)	3)	(2)	—)	(14)	(16)	(17)	(21)
Net income attributable to Honeywell	821)	(115)	1,825)	1,570)	1,449)	1,285)	1,413)	1,544)	1,463)	1,263)	1,514)	1,487)	1,394)	1,019)	1,552)	1,261)	1,134)	1,428)	1,257)	1,430)	1,427)

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.

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Honeywell International Inc. (NASDAQ:HON)

Income StatementQuarterly Data

Income Statement
Quarterly Data