Honeywell International Inc.

Thank you for standing by and welcome to the Honeywell second quarter 2025 earnings conference call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there'll be a question and answer session. Please be advised that today's call is being recorded. I would now like to hand the call over to Sean Mecham, Vice President of Investor Relations. Thank you. You may begin.

Thank you. Good morning. and welcome to Honeywell's second quarter 2025 earnings conference call. On the call with me today are Chairman and Chief Executive Officer Vimal Kapoor and Senior Vice President and Chief Financial Officer Mike Stepniak. This webcast and the presentation materials, including non-GAAP reconciliations, are available on our investor relations website. From time to time, we post new information that may be of interest or material to our investors on this website. Our discussion today includes forward-looking statements, that are based on our best view of the world and of our businesses as we see them today and are subject to risks and uncertainties, including the ones described in our SEC filings. This morning, we will review our financial results for the second quarter, share our guidance for the third quarter, and provide an update on full year 2025. As always, we'll leave time for your questions at the end. With that, I'll turn the call over to Chairman and CEO, Zimul Kapoor.

Thank you, Sean, and good morning, everyone. Honeywell again delivered solid results in the second quarter, meeting or exceeding all our financial commitments in a time of significant global economic change. Our organic sales and orders growth both accelerated during this quarter as we are seeing the benefit of our consistent spending and execution on new product development across our businesses. Given the strong first-stop performance we are raising, sales, and earnings guidance for the full year while incorporating into our outlook all currently known tariffs and the uncertain business conditions going forward. Our proactive, multi-prong mitigation efforts, coordinating closely with suppliers and customers on productivity and pricing initiatives, have been working as planned. And because of our systemic approach, we are in a position to deliver strong sales, profit, and cash flow growth in 2025. As our business leaders have been solely focused on meeting and exceeding our financial commitment, management and the board have been fulfilling our promise to transform our portfolio ahead of our upcoming separation to best position each of the future independent companies for success. Throughout the comprehensive portfolio review I initiated shortly after becoming CEO, we have diligently analyzed how to further simplify and optimize Honeywell. Earlier this month, we entered the final stage of this process, announcing our intention to pursue strategic alternative for our productivity solution and services and warehouse and workflow solution businesses. The results of this pursuit, whatever they may be, will clarify the standalone automation company's go-forward strategy and value proposition. With many changes in flight, our dedicated separation management office have kept us right on track to execute our spin-off transaction, both on time and without commercial disruption. Let's now turn to slide three for further update on our formation of three industry-leading public companies. We continue to make great progress along with the path to separate into three independent companies, which we believe will maximize long-term value for all Honeywell stakeholders. As independent entities with clear alignment and purpose, increased organization agility, and customized capital allocation priorities, each will be better positioned to accelerate future growth opportunities. Given the pace of our progress, we can now narrow the timing for the spin-off of Solstice Advanced Materials to Honeywell shareholders to the fourth quarter of this year. Solstice Share will trade under the ticker SOLS on the Nasdaq Stock Exchange. A few weeks prior to the spin, the Solstice leadership team will host an investor day in New York. They will lay out in detail the powerful investment case for this innovative market leader and in secularly growing advanced material market that will carry on Honeywell's legacy of operational excellence. We hope you will join CEO David Swell and his team at this event. We're also making great progress on aerospace spin, which is planned for the second half of next year. Last month, aerospace president Jim Correa and I presented an investor reception ahead of Paris Airshow, Jim highlighted Aero's industry-leading position as a mission-critical supplier of systems across aerospace verticals and platforms. In addition, he provided insights into drivers for our strong growth profile, underpinned by a broad aerospace and defense upcycle, which we enhanced with a powerful decoupled sales initiative, ongoing supply chain transformation effort, and robust research and development investments over time. We look forward to providing you with more details on standalone Honeywell Aerospace in coming quarters. And yet, we are not waiting for the separation to reshape our portfolio for future growth. We continue to selectively deploy capital towards acquisition, announcing two new deals in the past couple of months. We are also looking to recycle capital, as I discussed earlier, by pursuing alternative or businesses that do not fit our future. In combination of these actions will drive value creation as we await becoming separately publicly traded vehicles. If you turn to slide four, I will discuss our recent portfolio announcement in more detail. In June, we agreed to 1.8 billion pounds bolt-on purchase of Johnson's Metis Catalyst Technology business. We have long identified our UOP process technology business as a natural owner of this highly complementary business because it gives us additional capabilities in sustainable methanol sustainable aviation fuel, hydrogen, and ammonia to better serve our extensive customer base. It also brings attractive sales from Catalyst, which fit very well with our existing offerings. The transaction is expected to close in the first half of 2026 and will enhance our growth and margin profile over time while providing a strong financial return. In early July, we also announced a technology tuck-in acquisition of Line Tamr, that enhances our building automation capability in high-growth energy storage and data center end markets. While such smaller Ds do not often get much investment attention, in aggregate, they can accelerate our strategic roadmap and boost growth with a lower risk profile. We recently announced our intent to evaluate strategic alternatives for our PSS and warehouse automation businesses. Just as we want to acquire businesses such as Catalyst Technologies and Lion Tamer, Where we believe we are natural owner, we must also acknowledge when the time comes, then we better owner of parts of our portfolio. We're looking to create a pure play automation company with a consistent business model and focus end of end markets in which we have durable competitive advantages. Both PSS and Integrated have strong customer basis, long history of innovation, and best-in-class operation, and we will evaluate options for them from a position of strength. To avoid interfering with the review process, we will hold further updates until it's completed. I will now turn it over to Mike to provide more details on our excellent second quarter results. Thank you, Vimal, and good morning, everyone.