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No. 2 Auburn arrives for prove-it game at No. 9 DukeWith sleek, ultra-flat, iconic stylish giant screen Innovative technology brand TECNO today unveiled its new AI-enhanced, second-generation flip smartphone, PHANTOM V Flip2 5G in the Philippines with Pia Wurtzbach as brand ambassador A remarkable fusion of on-trend aesthetic design and powerful technologies, the iconic phone will bring a fun, fashionable and functional flip phone experience to stylish individuals. Bringing pocket-sized ease and elegance to daily life, PHANTOM V Flip2 5G is freshly equipped with TECNO’s brand-new TECNO AI suite of AI functions. The suite features an upgraded Gemini-integrated Ella AI Assistant, AI Artboard, AI Writing and much more. It also upgrades the flip experience with a stunning infinity pool-inspired ThruPool cover screen, a flagship imaging system, an ultra-flat flagship main screen and a long-lasting 4720mAh Super Battery with 70W Ultra Charge. TECNO AI is a Masterpiece of Creativity Despite its tiny size, PHANTOM V Flip2 5G is packed with innovative AI functions that deliver a massive creativity boost to content creators and fashion-forward individuals. TECNO AI is a new suite of AI functions that boost creativity, convenience and fun, helping every user stand out on socials with their creativity unlocked. Whether scrolling social media, managing work projects, or organizing a party with friends, TECNO AI’s Gemini-integrated Ella AI Assistant is always on hand to help. Ella offers online search capabilities and Smart Q&A to give intelligent answers based on real-time information, responding to questions fluently. In addition, users can interact more intelligently with over 400 system functions with Ella, from setting wallpapers to switching the system language. PHANTOM V Flip2 5G also features AI Text Summary and face-to-face AI Translation. Meanwhile, AI Writing functions, such as text summary, text generation, proofreading and rewriting capabilities also save users’ valuable time. Combining the limitless human imagination with the power of AI for mind-blowing results, TECNO AI’s creative tools allow users new ways to express themselves. With AI Artboard and AI WallPaper, anyone can create an artistic masterpiece, as AI turns users’ simple scribbled sketches into incredible works of art, while Magic AI Eraser allows users to rescue their photos by removing clutter or passersby, and One Click Cutout lets users automatically recognize and extract subjects with a long press, enabling quick and effortless image sharing. Picture-perfect ThruPool Cover Screen An icon of sleek and flowing design, PHANTOM V Flip2 5G’s ThruPool Cover Screen is a stylish creation inspired by infinity pools. The cover features a 3.64” screen that is perfectly integrated with the slightly curved main body, while the suspended camera lens is immersed in the pixels that beautifully flow across the display. PHANTOM V Flip2 5G reimagines everyday uses of the cover screen, supporting over 2,000 apps to make life easy for users who often won’t even need to open up the main screen. The screen is larger and more regular in shape to make it natural to use, while it’s 413PPI display is delicate and dynamic. Users can set up shortcut icons for instant access to useful features like step count and weather. The screen also supports a full keyboard display for easy dialing and typing, including quick replies. Users can also bring more character to their smartphone interactions with customizable displays and adorable interactive pets. The cover screen can be personalized with a range of styles, from magazine to graffiti or contrast. There are also five new animal additions to Outer Screen Cute Pet 2.0, bringing even more cuteness to the display. Users can stroke their pet to engage in cute interactions. For game lovers, the screen offers a host of mini-games such as Cute Pet Jump, 2048 Landmark Edition, Cute Pet Elimination Music, Sudoku, and more, so users can have fun without even opening the main screen. Flagship Imaging Elevated by FreeCam Despite being perfectly pocket-sized, PHANTOM V Flip2 5G delivers a flagship candy bar smartphone level camera system, with a 50MP main camera, 50MP ultra-wide angle camera, and front 32MP camera, while its flip form unfolds new shooting perspectives. The powerful rear cameras offer amazing optical grade lossless zoom results, with 2x extended focal length and 2x-10x zoom. Image quality is maintained even when zoomed in. For photos of friends or unforgettable party moments in low light, a 1/1.57” large main camera sensor and 1μm pixels produce clear, detailed photos with improved clarity, brightness, and tone. The main camera also supports 4K@30fps Ultra Steady video stabilizer for clear, stable videos, even on the move. The 32MP shining selfie front camera is ideal for capturing super selfies or shooting exciting vlogs, with advanced phase detection autofocus (PDAF) with more accurate human eye autofocus that achieves finer feature recognition. Equipped with a front flash and physical-level fill light, it also solves the problem of no light source for selfies in low-light environments, making selfies clearer, brighter and more realistic. With its foldable design, PHANTOM V Flip2 5G flips standard shooting on its head for a more creative imaging experience. Capable of hovering at any angle from 30-150°, users can explore new perspectives with FreeCam shooting. FreeCam Selfie, FreeCam Group Selfie and FreeCam Video all let users make the most of the folding design to capture exciting hands-free shots. Hovering the phone also lets users shoot incredible FreeCam Timelapse and FreeCam Long Exposure shots without the need for a tripod. Besides FreeCam, the foldable dual screen design allows even more unexpected shooting methods. With Ultra Selfie, users can shoot highly detailed, ultra wide-angle selfies without unfolding the device, using the device’s flagship-level rear cameras. With Cover Screen Preview, the shooting screen is displayed on both the main screen and the cover screen so the subject of the shot knows exactly how the shot will look in real-time. With Retro DV Mode, users can feel the classic video camera vibes with the device hovered, creating atmospheric shots with built-in templates and filters. Ultra-flat Flagship 120Hz Main Screen Aside from its iconic ThruPool cover screen, PHANTOM V Flip2 5G also features an immaculate ultra-flat 6.9” flagship main screen to bring users an immersive viewing experience. The 120Hz LTPO self-adaptive refresh rate display offers seamless and dynamic screen interactions. The AMOLED FHD+ display with 100% P3 color gamut delivers a rich viewing experience, while 2160Hz high-level PWM dimming controls brightness to reduce the impact of usage on the eyes. Even with regular folding and unfolding, the main screen’s crease line is kept to a minimum, thanks in part to the device’s double helix star track water drop hinge. Constructed using aerospace-grade super strength steel, the hinge ensures a tight fit when opened and closed, while providing a lifetime of at least 400,000 normal temperature folds, 150,000 high temperature folds and 100,000 low temperature folds. The main screen and strong hinge also enable FreeForm hovering. With the cellphone at any angle from 30-150°, users can hover the device and use it in new ways. FreeForm supports a wide range of apps, including system applications like Camera and Visha Player, as well as popular third-party apps such as YouTube, WhatsApp, Netflix, Disney+, Zoom, Google Meet and Messenger. Fast Charge, Big Battery PHANTOM V Flip2 5G lets users chill all day without worrying about charging, boasting one of the largest battery capacities and fastest charging speeds in its category. A powerful 4720mAh Super Battery makes it a reliable companion for all-day activities. Meanwhile, 70W Ultra Charge achieves 50% charge in just 15 minutes and a full charge in 43 minutes. This combination of a large battery capacity and rapid charging technology guarantees uninterrupted usage and superior convenience, making PHANTOM V Flip2 5G the perfect flip companion for hours and hours on the go. Combining an iconic aesthetic and innovative AI, TECNO’s new PHANTOM V Flip2 5G is a futuristic flip phone that brings forward-thinking individuals an amazing creative boost. Through advanced technologies and eye-catching design, it promises to take everyday experiences to a new level of pocket-sized style and fun. Set the trend, order ahead! The PHANTOM V Flip2 5G is priced at Php 34,999 officially. From 11.28 to 12.08, customers in Luzon region and the cities of Cebu, Davao, and Iloilo can preorder the PHANTOM V Flip2 5G by paying a reservation fee of only Php2,000. The first 200 customers will receive a limited edition PHANTOM luggage plus a customized PHANTOM Flip 2 pin and digital video phone case. After the limited edition items run out, customers who will preorder will receive the digital video phone case. During the open sale from 12.09, customers who will purchase offline will also receive a digital video phone case. They will also have the option to pay over 18 months at 0% interest through Home Credit. Special discounts on Tiktok Shop and Shopee On 12.06-12.12, customers can purchase the PHANTOM V Flip2 5G during its first sale at a special price lowest to Php27,999 at TECNO Mobile PH in TikTok Shop . Starting from 12.08, PHANTOM V Flip2 5G will also be available on TECNO Mobile PH Official Store in Shopee , TECNO Mobile PH Official Store in Lazada , as well as at TECNO Partner Retail Stores nationwide. Being business-savvy should be fun, attainable and A+. BMPlus is BusinessMirror's digital arm with practical tips & success stories for aspiring and thriving millennial entrepreneurs.
AUSTIN, TEXAS / ACCESSWIRE / December 2, 2024 / Monogram Technologies Inc. (NASDAQ:MGRM) ("Monogram" or the "Company"), an AI-driven robotics company focused on improving human health with an initial focus on orthopedic surgery, today announced completed purchases of MGRM common stock on the open market by certain related parties including Chief Financial Officer Noel Knape, totaling approximately $1 million. Additional details can be found on the Form 8-K filed today by the Company under Item 8.01 Other Events. "Our senior management team has purchased shares in the open market, reflecting high confidence in our strategy and expectation to create long-term shareholder value," said Ben Sexson, Chief Executive Officer of Monogram. "With the funding secured from our recent offering, we are optimistic about our ability to reach our key milestones in the months ahead." Upcoming Milestones Issue-specific meeting with the FDA by December 2024. Seek to obtain regulatory clearance to conduct clinical trials in India with strategic partner Shalby Hospitals. Seek to obtain FDA clearance for the mBôsTM TKA System. Continue exploring domestic relationships. Seek to continue expanding international relationships (the Company will be exhibiting at Arab Health in January 2025). About Monogram Technologies Inc. Monogram Technologies (NASDAQ: MGRM) is an AI-driven robotics company focused on improving human health, with an initial focus on orthopedic surgery. The Company is developing a product solution architecture to enable patient-optimized orthopedic implants at scale by combining 3D printing, advanced machine vision, AI and next-generation robotics. Monograms mBôs precision robotic surgical system is designed to autonomously execute optimized paths for high-precision insertion of its FDA-cleared mPress press-fit implants. The goal is well balanced better-fitting bone sparing knee replacements. The Company initially intends to produce and market robotic surgical equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation necessary for reconstructive joint replacement procedures. Other clinical and commercial applications for the mBôs with mVision navigation are also being explored. Monogram has obtained FDA clearance for mPress implants and applied for 510(k) clearance for its robotic products. The Company is required to obtain FDA clearance before it can market its products. Monogram cannot estimate the timing or assure the ability to obtain such clearances. The Company believes that its mBôs precision robotic surgical assistants, which combine AI and novel navigation methods (mVision), will enable more personalized knee implants for patients, resulting in well balanced better-fitting knee replacements with bone sparing implants. Monogram anticipates that there may be other clinical and commercial applications for its navigated mBôs precision robot and mVision navigation. To learn more, visit www.monogramtechnologies.com . Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. For example, the Company's statement regarding the Company's proposed use of net proceeds is a forward-looking statement. Forward-looking statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that the Company may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company's other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. Investor Relations Chris Tyson Executive Vice President MZ North America Direct: 949-491-8235 MGRM@mzgroup.us SOURCE: Monogram Technologies Inc. View the original on accesswire.comOlympian with 2 gold, 11 silver and 3 bronze medals is now an Ola driver: Mumbai entrepreneur’s post goes viral
CHARLOTTE, N.C. , Dec. 2, 2024 /PRNewswire/ -- Honeywell (NASDAQ: HON) announced the signing of a strategic agreement with Bombardier, a global leader in aviation and manufacturer of world-class business jets, to provide advanced technology for current and future Bombardier aircraft in avionics, propulsion and satellite communications technologies. The collaboration will advance new technology to enable a host of high-value upgrades for the installed Bombardier operator base, as well as lay innovative foundations for future aircraft. Honeywell estimates the value of this partnership to the company at $17 billion over its life. "This is a tremendous opportunity to co-innovate and advance next generation technologies, including Anthem avionics and engines," said Vimal Kapur , Chairman and CEO of Honeywell. "Growing our long-term collaborative relationship with Bombardier is directly connected to Honeywell's focus on compelling megatrends -- automation, the future of aviation, and energy transition." "This new partnership creates unprecedented opportunities for Bombardier," said Eric Martel , President and Chief Executive Officer of Bombardier. "Honeywell's differentiated technology is the key reason we decided to collaboratively build a bright future with them." Honeywell and Bombardier will collaborate on the development of Honeywell avionics to provide unparalleled adaptability to specific mission requirements, enabling exceptional situational awareness and enhanced safety. In addition, the collaboration's propulsion-based workstreams will focus on evolutions of power, reliability and maintainability, led by the next-generation model of Honeywell's HTF7K engine. "Working together, we will generate significant value for Bombardier's operator base by providing the latest technologies to enable safe and efficient flight," said Jim Currier , President and CEO of Honeywell Aerospace Technologies. "We are committed to investing in these key technologies with Bombardier, which will not only drive substantial growth for Honeywell, but lead the industry further into the future of aviation." As part of the partnership, Bombardier and Honeywell will work together to certify and offer JetWave X for the Bombardier Global and Challenger families of aircraft for both new production and aftermarket installations. Bombardier will also have access to Honeywell's full suite of next generation L-Band satellite communications products and antennas that will provide future safety services capabilities. Additionally, all legacy pending litigation between the companies has been resolved. Honeywell Updates 2024 Outlook While the commercial agreement impacts near-term Honeywell financials, the company is confident it will lead to long-term value creation for Honeywell shareowners. Given the required investments associated with this agreement, Honeywell has updated its full-year sales, segment margin 2 , adjusted earnings per share 2,3 , and free cash flow guidance 1 . A summary is provided in the table below. TABLE 1: FULL-YEAR 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $38.6B - $38.8B ($0.4B) $38.2B - $38.4B Organic 1 Growth 3% - 4% ~(1%) ~2% Segment Margin 2 23.4% - 23.5% (0.8 %) 22.6% - 22.7% Expansion 2 Down 10 - Flat bps (80 bps) Down 90 - 80 bps Adjusted Earnings Per Share 2,3 $10.15 - $10.25 ($0.47) $9.68 - $9.78 Adjusted Earnings Growth 2,3 7% - 8% (5 %) 2% - 3% Operating Cash Flow $6.2B - $6.5B ($0.4B) $5.8B - $6.1B Free Cash Flow 1 $5.1B - $5.4B ($0.5B) $4.6B - $4.9B TABLE 2: FOURTH QUARTER 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $10.2B - $10.4B ($0.4B) $9.8B - $10.0B Organic 1 Growth 2% - 4% (4 %) (2%) - Flat Segment Margin 2 23.8% - 24.2% (2.9 %) 20.9% - 21.3% Expansion 2 Down 60 - 20 bps (290 bps) Down 350 - 310 bps Adjusted Earnings Per Share 2,3 $2.73 - $2.83 ($0.47) $2.26 - $2.36 Adjusted Earnings Growth 2,3 1% - 5% (17 %) (16%) - (12%) 1 See additional information at the end of this release regarding non-GAAP financial measures. 2 Segment margin and adjusted EPS are non-GAAP financial measures. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from certain items excluded from segment margin or adjusted EPS. We therefore, do not present a guidance range, or a reconciliation to, the nearest GAAP financial measures of operating margin or EPS. 3 Adjusted EPS and adjusted EPS V% guidance excludes items identified in the non-GAAP reconciliation of adjusted EPS at the end of this release, including the impact of amortization expense for acquisition-related intangible assets and other acquisition-related costs, and any potential future items that we cannot reliably predict or estimate such as pension mark-to-market. Bombardier, Global and Challenger are trademarks of Bombardier Inc. or its subsidiaries. Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends - automation, the future of aviation, and energy transition - underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations that help make the world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom . Honeywell uses our Investor Relations website, www.honeywell.com/investor , as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media. We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Appendix Non-GAAP Financial Measures The following information provides definitions and reconciliations of certain non-GAAP financial measures presented in this press release to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP). Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. Management believes the change to adjust for amortization of acquisition-related intangibles and certain acquisition- and divestiture-related costs provides investors with a more meaningful measure of its performance period to period, aligns the measure to how management will evaluate performance internally, and makes it easier for investors to compare our performance to peers. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Other companies may calculate these non-GAAP measures differently, limiting the usefulness of these measures for comparative purposes. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of these non-GAAP financial measures are that they exclude significant expenses and income that are required by GAAP to be recognized in the consolidated financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Investors are urged to review the reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures and not to rely on any single financial measure to evaluate Honeywell's business. Honeywell International Inc. Definition of Organic Sales Percent Change We define organic sales percentage as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures, for the first 12 months following the transaction date. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Operating Income to Segment Profit, Calculation of Operating Income and Segment Profit Margins (Unaudited) (Dollars in millions) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2023 Operating income $ 1,583 $ 7,084 Stock compensation expense 1 54 202 Repositioning, Other 2,3 569 952 Pension and other postretirement service costs 3 17 66 Amortization of acquisition-related intangibles 76 292 Acquisition-related costs 4 1 2 Segment profit $ 2,300 $ 8,598 Operating income $ 1,583 $ 7,084 ÷ Net sales $ 9,440 $ 36,662 Operating income margin % 16.8 % 19.3 % Segment profit $ 2,300 $ 8,598 ÷ Net sales $ 9,440 $ 36,662 Segment profit margin % 24.4 % 23.5 % 1 Included in Selling, general and administrative expenses. 2 Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. 3 Included in Cost of products and services sold and Selling, general and administrative expenses. 4 Includes acquisition-related fair value adjustments to inventory. We define operating income as net sales less total cost of products and services sold, research and development expenses, impairment of assets held for sale, and selling, general and administrative expenses. We define segment profit, on an overall Honeywell basis, as operating income, excluding stock compensation expense, pension and other postretirement service costs, amortization of acquisition-related intangibles, certain acquisition- and divestiture-related costs and impairments, and repositioning and other charges. We define segment profit margin, on an overall Honeywell basis, as segment profit divided by net sales. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of operating income to segment profit, on an overall Honeywell basis, has not been provided for all forward-looking measures of segment profit and segment profit margin included herein. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of operating income to segment profit will be included within future filings. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle, and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2024(E) 2023 2024(E) Earnings per share of common stock - diluted 1 $ 1.91 $2.03 - $2.13 $ 8.47 $8.76 - $8.86 Pension mark-to-market expense 2 0.19 No Forecast 0.19 No Forecast Amortization of acquisition-related intangibles 3 0.09 0.17 0.35 0.50 Acquisition-related costs 4 — 0.02 0.01 0.10 Divestiture-related costs 5 — 0.04 — 0.04 Russian-related charges 6 — — — 0.03 Net expense related to the NARCO Buyout and HWI Sale 7 — — 0.01 — Adjustment to estimated future Bendix liability 8 0.49 — 0.49 — Indefinite-lived intangible asset impairment 9 — — — 0.06 Impairment of assets held for sale 10 — — — 0.19 Adjusted earnings per share of common stock - diluted $ 2.69 $2.26 - $2.36 $ 9.52 $9.68 - $9.78 1 For the three months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 660.9 million. For the twelve months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 668.2 million. For the three and twelve months ended December 31, 2024, expected earnings per share utilizes weighted average shares of approximately 653 million and 655 million, respectively. 2 Pension mark-to-market expense uses a blended tax rate of 18%, net of tax benefit of $27 million, for 2023. 3 For the three and twelve months ended December 31, 2023, acquisition-related intangibles amortization includes $62 million and $231 million, net of tax benefit of approximately $14 million and $61 million, respectively. For the three and twelve months ended December 31, 2024, expected acquisition-related intangibles amortization includes approximately $110 million and $330 million, net of tax benefit of approximately $30 million and $85 million, respectively. 4 For the three and twelve months ended December 31, 2023, the adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $2 million and $7 million, net of tax benefit of approximately $0 million and $2 million, respectively. For the three and twelve months ended December 31, 2024, the expected adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $20 million and $65 million, net of tax benefit of approximately $5 million and $15 million, respectively. 5 For the three and twelve months ended December 31, 2024, the expected adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, is approximately $25 million, net of tax benefit of approximately $5 million. 6 For the three and twelve months ended December 31, 2023, the adjustments were a benefit of $2 million and $3 million, without tax expense, respectively. For the twelve months ended December 31, 2024, the expected adjustment is a $17 million expense, without tax benefit, due to the settlement of a contractual dispute with a Russian entity associated with the Company's suspension and wind down activities in Russia. 7 For the the twelve months ended December 31, 2023, the adjustment was $8 million, net of tax benefit of $3 million, due to the net expense related to the NARCO Buyout and HWI Sale. 8 Bendix Friction Materials ("Bendix") is a business no longer owned by the Company. In 2023, the Company changed its valuation methodology for calculating legacy Bendix liabilities. For the three and twelve months ended December 31, 2023, the adjustment was $330 million, net of tax benefit of $104 million, (or $434 million pre-tax) due to a change in the estimated liability for resolution of asserted (claims filed as of the financial statement date) and unasserted Bendix-related asbestos claims. The Company experienced fluctuations in average resolution values year-over-year in each of the past five years with no well-established trends in either direction. In 2023, the Company observed two consecutive years of increasing average resolution values (2023 and 2022), with more volatility in the earlier years of the five-year period (2019 through 2021). Based on these observations, the Company, during its annual review in the fourth quarter of 2023, reevaluated its valuation methodology and elected to give more weight to the two most recent years by shortening the look-back period from five years to two years (2023 and 2022). The Company believes that the average resolution values in the last two consecutive years are likely more representative of expected resolution values in future periods. The $434 million pre-tax amount was attributable primarily to shortening the look-back period to the two most recent years, and to a lesser extent to increasing expected resolution values for a subset of asserted claims to adjust for higher claim values in that subset than in the modelled two-year data set. It is not possible to predict whether such resolution values will increase, decrease, or stabilize in the future, given recent litigation trends within the tort system and the inherent uncertainty in predicting the outcome of such trends. The Company will continue to monitor Bendix claim resolution values and other trends within the tort system to assess the appropriate look-back period for determining average resolution values going forward. 9 For the twelve months ended December 31, 2024, the expected impairment charge of indefinite-lived intangible assets associated with the personal protective equipment business is $37 million, net of tax benefit of $11 million. 10 For the twelve months ended December 31, 2024, the expected impairment charge of assets held for sale is $125 million, with no tax benefit. Note: Amounts may not foot due to rounding. We define adjusted earnings per share as diluted earnings per share adjusted to exclude various charges as listed above. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward-looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments, and other relevant factors, these assumptions are subject to change. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Expected Cash Provided by Operating Activities to Expected Free Cash Flow (Unaudited) Twelve Months Ended December 31, 2024(E) ($B) Cash provided by operating activities ~$5.8 - $6.1 Capital expenditures ~(1.2) Free cash flow ~$4.6 - $4.9 We define free cash flow as cash provided by operating activities less cash for capital expenditures. We believe that free cash flow is a non-GAAP measure that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock, or repay debt obligations prior to their maturities. This measure can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Stacey Jones Sean Meakim (980) 378-6258 (704) 627-6200 stacey.jones@honeywell.com sean.meakim@honeywell.com View original content to download multimedia: https://www.prnewswire.com/news-releases/honeywell-and-bombardier-sign-landmark-agreement-to-deliver-the-next-generation-of-aviation-technology-honeywell-updates-2024-outlook-302320054.html SOURCE Honeywell
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