$UTX (United Technologies Corporation)

$UTX {{ '2016-04-27T12:58:41+0000' | timeago}} • Webcast

In 1Q16, sales in Otis were up 4% in constant currency and 3% organically. For 2016, guidance at constant currency is unchanged at $75-125MM of profit decline for Otis. For Climate, Controls & Security, sales were flat at constant currency. $UTX expects 2016 profit growth of $175-225MM at constant currency on low single digit organic sales growth.

$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.

$UTX {{ '2017-04-26T11:42:40+0000' | timeago}} • Announcement

In 1Q17, $UTX stated that its Otis new equipment orders rose 4% YoY at constant currency and 11% excluding China. Equipment orders at UTC Climate, Controls & Security increased by 7%.  Commercial aftermarket sales were up 7% at Pratt & Whitney and up 12% at UTC Aerospace Systems.

$UTX {{ '2017-04-26T11:39:08+0000' | timeago}} • Announcement

$UTX reaffirmed its 2017 expectations for adjusted EPS of $6.30-6.60 on sales of $57.5-$59Bil.

$UTX {{ '2017-04-26T11:36:36+0000' | timeago}} • Announcement

$UTX reported 23% growth in 1Q17 EPS, helped by 3% increase in sales to $13.8Bil. Net income was $1.38Bil, or $1.73 per share, compared to $1.18Bil, or $1.41 per share in the year-ago quarter. Adjusted EPS was $1.48, up 1% YoY.

$UTX {{ '2017-04-24T15:40:15+0000' | timeago}} • Announcement

$UTX declared a dividend of $0.66 per share payable June 10 to shareowners of record at the close of business May 19, 2017.

$UTX {{ '2017-04-03T13:35:41+0000' | timeago}} • Announcement

Ignatius Anandappa has joined $UTX as Corporate VP & GM, Digital Accelerator. Most recently he served as CIO at $GE Digital.

$UTX {{ '2017-02-24T13:42:29+0000' | timeago}} • Announcement

$UTX commenced an underwritten secondary offering of 4.24MM shares of common stock of $WSO. $WSO is not offering any shares of common stock and will not receive any proceeds from the sale of the shares offered.

$UTX {{ '2017-02-06T17:37:34+0000' | timeago}} • Announcement

$UTX's BoD declared a quarterly cash dividend of 66 cents per common share. The dividend is payable on March 10. 2017 to shareowners of record at the close of business Feb. 17, 2017.

$UTX {{ '2017-01-25T14:51:17+0000' | timeago}} • Webcast

For 2017, $UTX is focused on the tax reform by the new US government. Foreign exchange remains a watch item for the year. The company is also watching the economic environments in both China and Europe, its second and third largest markets. What happens with Brexit and the elections in France and Germany might create some uncertainty, said $UTX.

$UTX {{ '2017-01-25T14:30:29+0000' | timeago}} • Webcast

For 1Q17, $UTX expects EPS to be $1.35-1.40, helped by share buybacks. For the commercial businesses, both Otis and CCS, $UTX expects to see better YoverY profit performance in 2H17 than in 1H17.

$UTX {{ '2017-01-25T14:17:30+0000' | timeago}} • Webcast

$UTX stated that 4Q16 results included about $90MM from restructuring costs. Pension liability reduction initiatives announced in October 2016 produced a non-cash charge of $423MM. The company also redeemed some high coupon debt about $2.25Bil in November 2016, which caused a charge of $164MM.

$UTX {{ '2017-01-25T12:35:13+0000' | timeago}} • Infographic

$UTX United Technologies Earnings AlphaGraphics: Q4 2016 Highlights

$UTX {{ '2017-01-25T12:30:59+0000' | timeago}} • Announcement

$UTX affirmed its 2017 outlook and expects adjusted EPS of $6.30-6.60 and total sales of $57.5-59Bil, with YoverY growth of 1-3%, including organic sales growth of 2-4%. Free cash flow for 2017 is expected in the range of 90-100% of net income attributable to common shareowners.

$UTX {{ '2017-01-25T12:26:44+0000' | timeago}} • Announcement

$UTX's three segments, UTC Climate, Controls & Security (CCS), Pratt & Whitney and UTC Aerospace Systems posted higher YoverY net sales for 4Q16, while Otis division posted a loss of 1% for the quarter. Net sales for CCS rose 3.08% to $4.24Bil, with Pratt & Whitney and  UTC Aerospace Systems posted sales increases of 3.98% and 4.07% respectively.

$UTX {{ '2017-01-25T12:20:29+0000' | timeago}} • Announcement

Diversified industrial company $UTX posted a profit for 4Q16 when compared to a year ago, as its three segment except Otis division drove revenue. Earnings from continuing operations for the quarter was $1,124MM or $1.26 per share compared to a loss from continuing operations of $177MM or $0.30 loss per share. Revenue rose 2.51% to $14.65Bil.

$UTX {{ '2016-12-14T23:06:17+0000' | timeago}} • Announcement

$UTX said it elected Diane M. Bryant, EVP of $INTC and General Manager of the Data Center Group, to its BoD, effective Jan. 1, 2017, increasing the board's size to 14.

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