Honeywell beats fourth-quarter sales and announces acquisition of the Safety & Productivity Solutions Group
Safety & Productivity Solutions GroupEndogenous sales increased 27% in the fourth quarter, driven by double-digit growth in Intelligrated Smart Warehousing and Personal Protective Equipment, as well as strong productivity solutions and services. Orders grew by double digits year-over-year for the fifth consecutive quarter, driven by strong order growth in the PPE and Productivity Solutions & Services businesses. Order storage remains at an all-time high. Segment margin increased by 260 basis points to 15.3% due to productivity enhancements and higher volumes.