Honeywell Turns to Emerging Energy Tech as Backlog Hits High
Attachment: Honeywell 2Q23
Researched by Industrial Info Resources (Sugar Land, Texas)--Honeywell International (NASDAQ:HON) (Charlotte, North Carolina) is finding more work in the gas- and chemical-processing industries as its UOP subsidiary delves more into emerging technologies like clean hydrogen and carbon capture. Honeywell also is benefiting from retailers in need of storage space for online-driven consumer spending.
Industrial Info is tracking more than $2 billion worth of active and planned projects across the U.S. involving Honeywell's services, more than 85% of which is attributed to the Oil & Gas Production and Chemical Processing industries. One Honeywell executive recently noted Honeywell's UOP strategy "has been to grow our business into sustainable technology, renewable fuels, clean hydrogen, carbon capture, and we see pretty strong bookings in our sustainable technologies business."
Other companies featured: Enterprise Products Partners LP (NYSE:EPD), Phibro LLC, TJX Companies Incorporated (NYSE:TJX) and Amazon.com Incorporated (NASDAQ:AMZN).
