$UTX (United Technologies Corporation)

$UTX {{ '2015-10-20T13:49:37+0000' | timeago}} • Webcast

$UTX cuts its full-year outlook due to pressure in aerospace systems and Otis elevators business. $UTX expect 2016 will likely be another challenging year and earnings in the three of the four segments, OTIS, Pratt and UTC Aerospace will be flat to down even with the pension benefit.

$UTX {{ '2017-09-05T11:41:13+0000' | timeago}} • Announcement

$UTX to acquire aircraft parts manufacturer $COL for $140 per share in cash and $UTX stock. $UTX reaffirmed its expectations for 2017 sales of approx. $58.5-59.5Bil and adjusted EPS of $6.45-6.60 per share. On a pro-forma 2017 basis, $UTX is expected to have global sales of about $67-68Bil following the transaction, based on estimated results.

$UTX {{ '2017-09-05T11:36:33+0000' | timeago}} • Announcement

$UTX to acquire aircraft parts manufacturer $COL for $140 per share in cash and $UTX stock, split between $93.33 in cash & $46.67 in $UTX stock. Under the deal, $COL and $UTX aerospace systems segment will be combined to create a new business unit named Collins Aerospace Systems. The deal is expected to generate cost synergies in excess of $500MM.

$UTX {{ '2017-07-28T15:02:28+0000' | timeago}} • Announcement

$UTX said Philippe Delpech, President of Otis Elevator, has elected to leave the company to accept another opportunity in Europe. Nora LaFreniere, Otis VP, General Counsel, and Mark George, OtisVice President, Finance & CFO, will lead Otis Elevator in the interim until a successor is named.

$UTX {{ '2017-07-26T15:22:39+0000' | timeago}} • Webcast

$UTX still expects 2018 is going to be the peak for negative engine margin at Pratt & Whitney. $UTX has still coming down on 87% learning curve on the engine. Pratt is working through all things such as engineering changes to drive some cost out of the engine, and overhead support costs for supply chain that will play into product cost next year.

$UTX {{ '2017-07-26T15:10:11+0000' | timeago}} • Webcast

For UTC Aerospace Systems, $UTX expects commercial OEs to be up in the 2H17 a little bit. But overall for the full year, the company expects flattish commercial OE. On the other hand, $UTX does expect the commercial aftermarket business to be up mid-single digit as opposed to the low single digit the company expected before.

$UTX {{ '2017-07-26T15:01:00+0000' | timeago}} • Webcast

Based on 1H17 results and anticipated increases in negative engine margin in 2H17, $UTX still sees Pratt & Whitney full-year operating profit being down $150-200MM, but likely closer to the $200MM end of the range. With solid 1H results at Aerospace Systems, $UTX still sees operating profit to be up $50-100MM for 2017 and likely toward high end.

$UTX {{ '2017-07-26T14:57:29+0000' | timeago}} • Webcast

$UTX expects improvement in 2H17, driven by strength in equipment orders, productivity initiatives, and lower FX headwind. $UTX still sees Climate, Controls & Security (CCS) operating profit to grow by $100-150MM at actual FX in 2017, but likely closer to the low end. $UTX now sees that CCS will see low to mid-single-digit organic sales growth.

$UTX {{ '2017-07-26T14:48:26+0000' | timeago}} • Webcast

$UTX still expects to spend about $3.5Bil on share repurchases this year, completing its plan to return $22Bil to shareowners between 2015 and 2017. On the M&A front, those closed at UTC Climate, Controls & Security and Otis last year are contributing to growth story this year, and $UTX continues to have a placeholder at $1-2Bil for M&A this year.

$UTX {{ '2017-07-26T14:44:52+0000' | timeago}} • Webcast

At UTC Climate, Controls & Security, where $UTX continued to invest in new products and sales resources, organic growth was 5% in 2Q17, with organic growth in the North American residential business up double digits. Equipment orders grew 11%, and that follows strong new equipment orders growth of 7% in 1Q17.

$ATI {{ '2017-07-25T15:24:30+0000' | timeago}} • Announcement

$ATI has inked a Long-Term Purchase Agreement with Pratt & Whitney, a $UTX company, to supply isothermal forgings and nickel-based powder alloys for next-generation jet engines. The deal begins in 2017 and is expected to generate revenues in excess of $1Bil from 2017 to 2030.

$UTX {{ '2017-07-25T12:34:46+0000' | timeago}} • Announcement

$UTX said new equipment orders at Otis were flat for 2Q17 versus the prior year. Despite Carrier's plan to relocate fan coils manufacturing to Mexico and layoffs, orders at UTC Climate, Controls & Security increased by 11% organically. Commercial aftermarket sales were up 4% at Pratt & Whitney and were up 7% at UTC Aerospace Systems.

$UTX {{ '2017-07-25T12:16:57+0000' | timeago}} • Announcement

$UTX lifted its FY17 sales outlook to $58.5-59.5Bil from $57.5-59Bil, while narrowing its adjusted EPS guidance to $6.45-6.60 from $6.30-6.60. This is based on its strong year-to-date performance and outlook for the remainder of 2017. Following this, $UTX stock, which touched new 52-week of $124.79 recently, is trading higher in premarket session.

$UTX {{ '2017-07-25T12:12:05+0000' | timeago}} • Announcement

Following the uplift of dividend by 6.1% last month, $UTX's 2Q17 earnings came in-line with its expectations, on strategic priorities execution, including growth of its business through investments, aerospace backlog delivery, and cost reduction goals achievement. This was made despite maintaining a disciplined approach to capital allocation.

$UTX {{ '2017-07-25T12:07:01+0000' | timeago}} • Announcement

Diversified conglomerate $UTX reported a rise in 2Q17 earnings driven by lower income tax expenses, despite a rise in costs and expenses. Income from continuing operations rose 1% to $1.43Bil and EPS increased 5% to $1.80. Sales grew 3% to $15.3Bil, including a 3% organic growth. Adjusted EPS from continuing operations rose 2% to $1.85.

$UTX {{ '2017-07-25T11:34:00+0000' | timeago}} • Infographic

$UTX United Technologies Earnings AlphaGraphic: Q2 2017 Highlights.

$UTX {{ '2017-06-27T22:46:28+0000' | timeago}} • Announcement

$UTX is committed to employing approx. 1,100 people in its Carrier Indianapolis manufacturing facility and plans to invest $16MM in the facility. Carrier plans to relocate fan coil manufacturing production lines, which impacts about 600 Indianapolis jobs between now and 2017-end. Employees will have job opportunities at other $UTX facilities.

$UTX {{ '2017-06-14T22:18:55+0000' | timeago}} • Announcement

$UTX declared, effective July 5, 2017, a dividend of $0.70 per outstanding share of common stock, which represents a 6.1% increase over the prior quarter's dividend amount.  The dividend will be payable September 10, 2017, to shareowners of record on August 18.

$UTX {{ '2017-05-02T13:28:40+0000' | timeago}} • Announcement

$UTX successfully priced an offering of $1Bil of 1.900% notes due 2020, $500MM of 2.300% notes due 2022, $800MM of 2.800% notes due 2024, $1.1Bil of 3.125% notes due 2027 and $600MM of 4.050% notes due 2047.

$UTX {{ '2017-04-26T13:29:31+0000' | timeago}} • Webcast

At 1Q17-end, $UTX's inventories grew about $680MM, driven by Pratt & Whitney which totals about $4Bil of inventories. Engine building is ramping up, with 160 engines in 2016 to 350-400 in 2017 and doubling again in 2018. The company said this ramp up will improve the inventory turns and the inventory balance will be in line over the next 18 months.

$UTX {{ '2017-04-26T12:41:38+0000' | timeago}} • Webcast

$UTX expects margins at its Otis segment to decline around 100 basis points for FY17. The company said the pricing pressure from China is continuing through the P&L and will continue for a while. Otis operating profit margin for 1Q17 was 16.1%, compared with 17.2% a year ago.

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