Honeywell International Inc.

Thank you. Thank you. Thank you.

Good morning and welcome to Honeywell's third 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 third quarter, share our guidance for the fourth quarter, and provide an update on the full year of 2025. As always, we'll leave time for your questions at the end. I'll turn the call over to Chairman and CEO, Dhimukul Kaur.

Thank you, Sean, and good morning, everyone. Honeywell continued its strong 2025 performance in third quarter Growth in organic sales took another step up and finished ahead of expectations, driven by our commitment to developing new solutions that solve our customers' most challenging problems. Better top line results translated into earnings well above our guided range, while strong orders across the portfolio demonstrate early results of our focus on innovation. Our excellent third quarter performance is powering another increase in our full year guidance. We are raising our 2025 EPS guide for the third time this year, even as we incorporate the impact of embedding spin-off of Solstice Advanced Materials. Barely a year since we announced our intent to separate Advanced Materials, today we are a week out from Solstice's first day of trading as an independent company. Our swift progress to this point demonstrate our ability to diligently execute carefully crafted work plans with speed and efficacy. We have the right resources in place to deliver on both our portfolio transformation and our businesses' financial and operational targets. We will carry the learnings and momentum from Solstice to next year's separation of aerospace. As we look to our future as three independent companies in 2026, we are proactively planning to realign the structure of our automation business at the beginning of next year to reflect how we will operate going forward. This move is another significant step in our simplification of Honeywell, which will provide the strategic focus, organizational agility, and tailored capital allocation to grow faster and drive value for all our stakeholders. Please turn to slide three for the latest update of our separation. A couple weeks ago, Solstice held a well-attended investor day in New York where David Swell, And his new management team presented a compelling vision for the new specialty materials company and how its rich history and new independent strategy will unleash its growth potential and unlock long-term stakeholder value. A week from today, on October 30th, Honeywell shareholders will receive new shares of Solstice. which will begin trading as a separate public company. I want to thank the teams that achieved this important milestone well ahead of the original schedule to complete by early 2026. I'm extremely excited for the opportunities in front of Solstice, and I will be cheering on the success in the years ahead. As our planned separation of aerospace in the second half of 2026 approaches, our board has been intently focused on assembling a Honeywell Aerospace leadership team with the right mix of industry, company, and capital market experiences to maximize value for our customers, partners, employees, and our shareholders. We expect to make an aerospace leadership and headquarter announcement later this year. The separation of aerospace brings the opportunity to further simplify Honeywell automation. As a result, we have proactively designed a new, simpler structure aligned to the future of the business. which I will discuss in more detail in the next slide. As we seek to better position the future independent aerospace and automation companies for success, we have opportunistically completed transaction to simplify the legacy liabilities left on our balance sheet. During the third quarter, we entered into an agreement to divest all our Bendix-Espestos liability on attractive terms for all parties. We also terminated an indemnification and reimbursement agreement with Resideo in exchange for $1.6 billion in cash. In combination, these transactions resulted in net cash inflow and will simplify and de-risk our balance sheet, providing the company with fewer administrative burdens and greater financial flexibility to focus on creating value for our core business. On our slide four, I will go over segment realignment in more detail. We announced yesterday that we are planning to reorganize the Honeywell automation segments into a simplified structure focused on cohesive, synergetic business models. I'm pleased to take this next step in evolving Honeywell's streamlined portfolio with the aim of unlocking incremental value and driving long-term growth and margin expansion. As such, effective beginning of first quarter of 2026, we plan to report four business segments, aerospace technologies, building automation, process automation and technology, and industrial automation. Ahead of upcoming aerospace separation, this new structure serves as an elegant way to continue simplifying the RemainCo portfolio and align our external segment to the way we are increasingly driving our operation through consistent business models. Our differentiated approach underscores our ability to grow our install base in two ways, by selling mission-critical products through channels, and by delivering strategic projects for our customers. We then mine this install base by providing customers with high-value, outcome-based solution with a combination of software and services. The three Remain Core reporting segments will be organized into six strategic business units with each of our businesses aligned to our unified automation strategy, enabling us to solve enterprise-level challenges and help our customers achieve new level of optimization with the Honeywell Forge platform. Aerospace reporting is unchanged ahead of separation in the second half of the next year. The new structure will allow us to better prioritize R&D efforts, capital expenditure, and go-to-market strategy with a growth mindset. Building automation will continue to be a leading provider of unified building automation solution, delivering safer, more sustainable integrated buildings and infrastructure assets, and maintain its products and solution business unit structure. Process automation and technology is a combination of core Honeywell process solutions and UOP, the global leader in process technology. These businesses have developed powerful commercial synergies, enjoy leading position in process market globally with vast install base, and share very similar business model characteristics. BANT will report projects and aftermarket business units. Industrial automation's portfolio of products and solution businesses include mission-critical offering with proven reliability and tenured channel relationship, positioning us to benefit from ongoing global reshoring thematics. With this realignment, following the separation of aerospace next year, Honeywell will be a premier pure-play automation company, leading the future of automation through high ROI, outcome-based solution for customers, across a large addressable set of markets. And as we continue our journey of transforming the portfolio, I would like to highlight another lever of value creation with the recently announced Continuum Capital Raise on slide five. Four years ago, we formed the world's most advanced full-stack quantum computing company. It has rapidly progressed quantum technology along the path to universal fault-tolerant computing in more than two-decade pursuits than it is soon to be realized. Technological progress has driven fundraising momentum. Less than two years after completing an equity capital raise at a $5 billion pre-money valuation, the company announced in September a second raise at double the prior valuation. As important as the capital contributions will be to advancing the development of quantum computing at scale, the collaboration with new shareholders such as Quanta and Nvidia, in addition to others like JP Morgan, Amgen, and Mitsui, may prove even more critical. Continuum's fundraising efforts have led to new partnerships that will support the development of critical applications for improving drug discovery, government and military cybersecurity, and encryption for large financial institutions. While we are tremendously excited about the future of the business, we recognize we are not the best long-term owner, and it will eventually need its own capital structure to fully exploit its growth potential. As a result, Honeywell will seek to begin monetizing its stake in the company at the appropriate time in a manner that will create meaningful value for Honeywell share owners. The most recent capital raise will sustain continuum through that point in time. I will now turn the call over to Mike to go through our third quarter results beginning on slide six.