Honeywell’s final decision to halt enterprise actions in Russia subsequent the country’s invasion of Ukraine is not likely to cause complications for the company’s harmony sheet, CEO Darius Adamczyk instructed CNBC on Monday.
“It has some implications, but it can be the appropriate detail to do, it really is a very little bit north of 1% of our all round shares, and our production existence there is reasonably little,” Adamczyk claimed in an job interview on “Mad Money.”
“We will see what transpires. We are checking the scenario,” he added.
The technological innovation business is one particular of hundreds of organizations that have stopped or curtailed functions in Russia which include Adidas, McDonald’s and Apple. The company introduced its conclusion to “substantially” suspend its pursuits on March 8.
As for the firm’s other probable headwinds, Adamczyk explained that Honeywell’s provide chain and uncooked material expenses have been workable. Honeywell’s fourth quarter profits fell limited of expectations final month due to supply chain problems, among the other aspects.
“We have essentially finished a great career of guarding that company. Titanium is anything we check out quite carefully and some of the components there, but we have been a little bit forward of the sport and secured resources of source, so we are in quite excellent form there.”
Honeywell stock was up .53% at the end of Monday’s buying and selling session.
When asked about future ideas, Adamczyk explained that the company ideas to obtain $4 billion truly worth of shares, which he considers to currently be a “discount,” and appear towards earning acquisitions.
Sign up now for the CNBC Investing Club to abide by Jim Cramer’s each and every transfer in the marketplace.