How long they can keep the lies so sweet? Each quarter blame the same issue. Really? obviously anyone can use AI to tell the problem is the management. That Ken West baby should retire...
| Quarter | Orders / backlog message | Revenue conversion issue |
|---|---|---|
| Q2 2025 | Honeywell said backlog grew 16% year over year, supported by strong double-digit order growth. honeywell | The broader company commentary still referenced timing of large project execution in some businesses, though this was less explicitly UOP-focused in the quarter release. honeywell |
| Q3 2025 | Honeywell said orders grew at a strong double-digit rate and overall backlog increased year over year. honeywell+1 | ESS said UOP sales declined 13% due to anticipated licensing delays and lower catalyst shipment volumes, even as UOP orders grew double digits. honeywell |
| Q4 2025 | Honeywell said orders grew 23% and backlog exceeded $37 billion; the PA&T presentation said second-half 2025 PA&T orders grew 17% and opening backlog rose 16%. investor.honeywell+1 | ESS segment sales declined 7% organically, with margin pressure from lower catalyst volumes, even as management pointed to long-cycle demand and a second-half 2026 ramp. investor.honeywell+1 |
| Q1 2026 | Honeywell said orders grew 7% and backlog reached about $38.3 billion. investor.honeywell+1 | PA&T sales fell 6% organically, aftermarket fell 10% due to delayed refining catalyst shipments and automation service upgrades, and projects were only flat because process automation was delayed. investor.honeywell+1 |