HON · Earnings call · 2026Q3T · Full report

Order Backlog and Book-to-Bill

HONEYWELL INTERNATIONAL INC · 2026-10-22 · Importance 63 · Surprise 64

Demand was broad-based, with short-cycle orders up 8% excluding divestitures, led by Industrial and Building Automation. Data center orders increased more than 100%, while Process Automation and Technology (P&T) reported strong refining catalyst demand. Company orders were up 3% organically excluding the prior-year P&T award, and book-to-bill was 1.0x; ending backlog approached $19 billion, up 7% excluding divestitures. P&T backlog increased by double digits, supported by large project awards.

Key facts

• Honeywell reported nearly $19 billion in backlog and said it had a strong 2026 outlook.
• Q3 2026 book-to-bill was 1.0x, and ending backlog was nearly $19 billion, up 7% excluding divestitures.
• Two strategic low-carbon energy and LNG awards in Q3 and Q4 2025 were worth over $700 million and created tough P&T order comparisons.
• Honeywell said Q3 2026 Industrial Automation core orders were up 15%, with backlog likely the segment's strongest in over five years.
• Q3 2026 orders grew across short-cycle businesses, led by Sensing and Measurement in Industrial Automation, while Building Automation product orders grew double digits.
• Excluding the impact of the Q3 2025 award, total company orders were up 3% organically in Q3 2026.
• P&T backlog was up double digits in Q3 2026, driven by large project awards.
• P&T backlog was over 10% higher than a year earlier, supported by LNG, refining and petrochemicals, and low-carbon energy project wins.