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![HONEYWELL INTERNATIONAL INC [HON] reports annual net loss of $5.7 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FHON.png&w=1200&q=75)
HONEYWELL INTERNATIONAL INC [HON] has reported a net loss of $5.7 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $36.7 billion
Based in CHARLOTTE, North Carolina, HONEYWELL INTERNATIONAL INC operates in the MANUFACTURING sector.
In the fiscal year ending December 31, 2023, Honeywell reported a net sales revenue of $36.7 billion, showing a slight increase compared to the previous year's $35.5 billion. The cost of products and services sold also increased to $23.0 billion in 2023 from $22.3 billion in 2022.
Research and development expenses were $1.5 billion in 2023, slightly lower than the $1.5 billion incurred in 2022. Selling, general, and administrative expenses amounted to $5.1 billion in 2023, compared to $5.2 billion in the previous year.
After accounting for all costs, expenses, and other items, the total income before taxes for 2023 was $7.2 billion, which was higher than the $6.4 billion reported in 2022. The net income attributable to Honeywell for 2023 saw a significant increase to $5.7 billion from $5.0 billion in 2022.
The basic earnings per share of common stock for 2023 were $8.53, up from $7.33 in 2022. Similarly, the diluted earnings per share of common stock for 2023 were $8.47, an improvement from $7.27 in 2022.
In terms of product performance, net sales for products were $25.8 billion in 2023, slightly lower than the $26.0 billion reported in 2022. The cost of products and services sold for products was $17.0 billion in 2023, slightly up from $17.0 billion in the previous year.
For services, net sales increased to $10.9 billion in 2023 from $9.5 billion in 2022. The cost of products and services sold for services also increased to $6.0 billion in 2023 from $5.4 billion in 2022.
Overall, Honeywell showed growth in revenue, net income, and earnings per share in the fiscal year ending December 31, 2023, compared to the previous year.
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