Why did Honeywell's operating expenses rise sharply in Q3 2024?

Honeywell's operating expenses did not rise sharply in Q3 2024. In fact, the company reported a reduction in net leverage from 2.9x to 0.8x and an increase in total cash and availability under its credit line to $21 million as of June 30, 2024. The company's financial results for Q3 2024 showed a positive trend with a 47.8% increase in net revenue, a 32.6% increase in gross profit, and a significant rise in adjusted EBITDA. These indicators suggest that Honeywell was operating efficiently and effectively during the quarter, with no significant increase in operating expenses.