Honeywell Technologies has launched Forge Plant Cognition, an industrial AI platform built with NVIDIA AI and Dell Technologies infrastructure. It is designed to help refining, petrochemical, and Liquefied Natural Gas (LNG) operators get more value from existing assets. The first deployment is at Dangote's refinery in Lekki, Nigeria, one of the world's largest single-train refineries. Based on preliminary data, Honeywell estimates the platform could add more than 29 cents a barrel, or more than $60 million a year in gross benefit at full capacity. The estimate is not guaranteed. The platform combines real-time operating data, engineering knowledge, and physics-based models to spot bottlenecks, flag equipment problems, and guide decisions. It should also help Dangote reach its goal of a workforce that is 70% Nigerian. Honeywell is also helping the refinery raise capacity from 650,000 to 1.4 million barrels per day within three years.

Honeywell reported third-quarter 2026 results as a pure-play automation company, and its shares rose about 1.3%. Adjusted earnings per share were about $2.27, and segment margin reached roughly 21%, up from about 17.3% a year earlier. Revenue fell 52% to $4,994 million from $10,408 million. Net income from continuing operations dropped 58% to $767 million from $1,825 million. Free cash flow conversion was near 95%. Building Automation organic sales grew 8%, the eighth straight quarter of high single-digit growth, with margins near 27%. Process Automation & Technology organic sales also rose 8%, though the Johnson Matthey Catalyst Technologies acquisition is pressuring margins. Management expects them to trough near 21.5% in the fourth quarter.

Honeywell raised its full-year profit and sales outlook on October 22, 2026, after completing the spin-off of its aerospace business. The company is now a pure-play automation business with an order backlog of nearly $19 billion in the third quarter. Management removed stranded corporate costs six months ahead of target, lifting segment profit margins by nearly four percentage points to over 21%. It expects to clear all remaining stranded costs by the end of 2026. Data center orders more than doubled year to date, and chief executive officer Vimal Kapur expects very high growth in 2027. Process automation backlog also grew by double digits, driven by energy projects in the Middle East and Africa. Free cash flow conversion reached 95% in the third quarter, and Honeywell expects it to top 100% in the fourth. Falling debt gives it room to pursue mergers and acquisitions.