Honeywell dips after $470 million Flexjet settlement charge

Shares of industrial conglomerate Honeywell International HON.O down 1.5% at $196.20 premarket after co expects to record charge of about $470 mln in Q4 related to potential settlement of Flexjet-linked litigation

Private aviation company Flexjet sued Honeywell in March 2023, alleging Honeywell breached an aircraft engine maintenance services agreement

Co also updates FY outlook as it plans to report its Advanced Materials unit as discontinued operations starting in the fourth quarter of 2025

Co sees adj profit for the year between $9.70-$9.80/share, down from previous forecast of $10.60-$10.70/shr

As of last close, HON down 6.4% YTD