Honeywell’s final decision to halt business enterprise actions in Russia subsequent the country’s invasion of Ukraine is unlikely to cause issues for the company’s stability sheet, CEO Darius Adamczyk instructed CNBC on Monday.
“It has some implications, but it really is the correct matter to do, it is really a small little bit north of 1% of our over-all shares, and our producing presence there is relatively modest,” Adamczyk reported in an job interview on “Mad Money.”
“We will see what takes place. We are monitoring the situation,” he included.
The engineering agency is a single of hundreds of companies that have stopped or curtailed functions in Russia like Adidas, McDonald’s and Apple. The business introduced its final decision to “significantly” suspend its things to do on March 8.
As for the company’s other doable headwinds, Adamczyk said that Honeywell’s provide chain and uncooked content costs have been workable. Honeywell’s fourth quarter profits fell small of anticipations last month due to source chain issues, among other variables.
“We have actually finished a very good occupation of protecting that organization. Titanium is a little something we enjoy quite closely and some of the components there, but we have been a little bit in advance of the sport and secured sources of offer, so we’re in fairly superior form there.”
Honeywell stock was up .53% at the stop of Monday’s buying and selling session.
When questioned about long run designs, Adamczyk said that the corporation options to purchase $4 billion well worth of shares, which he considers to now be a “deal,” and glimpse towards making acquisitions.
Indicator up now for the CNBC Investing Club to comply with Jim Cramer’s every go in the market.