$UTX (United Technologies Corporation)

$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 {{ '2017-11-06T16:08:44+0000' | timeago}} • Announcement

$UTX successfully priced an offering of EUR750MM of senior floating rate notes due 2019. The offering is expected to close on Nov. 13, 2017. Net proceeds from the offering are expected to be used to fund the repayment of commercial paper and for general corporate purposes.

$UTX {{ '2017-10-25T18:19:17+0000' | timeago}} • Webcast

$UTX had a commitment to Airbus and to Bombardier to deliver a certain number of engines this year to support their aircraft production plans. $UTX build 120 actual engines during 3Q17 and is on the way to hit that 350 to 400 next year and probably almost doubling that again next year.

$UTX {{ '2017-10-25T18:13:34+0000' | timeago}} • Webcast

For 3Q17, $UTX's Aerospace Systems delivered 4% profit growth on flat organic sales. With solid year-to-date results at Aerospace Systems, $UTX continues to expect operating profit to be up $50-100MM for the full-year 2017 and likely toward the high end of the range on low single digit organic sales growth.

$UTX {{ '2017-10-25T18:11:44+0000' | timeago}} • Webcast

$UTX's Pratt & Whitney has increased the allocation of GTF production to the spare engine pool, which lowers total negative engine margin. This, along with the higher commercial aftermarket volume, leads $UTX to expect 2017 operating profit to be down $125-175MM, but likely closer to the $125MM end of the range.

$UTX {{ '2017-10-25T18:09:51+0000' | timeago}} • Webcast

For full-year 2017, $UTX still sees operating profit at Otis to be down $125-175MM at actual FX. $UTX remains confident that Climate, Controls & Security will deliver low to mid-single digit organic sales growth and that operating profit growth will be at the low end of the $100-150MM range at actual FX.

$UTX {{ '2017-10-25T18:06:03+0000' | timeago}} • Webcast

$UTX's sales from Otis for 3Q17 rose 2% organically, while operating profit fell 7% at constant currency. Contribution from higher volume and productivity was more than offset by continued pricing and mix pressure, predominantly in China as well as strategic investments in service and E&D. FX translation was 1 point tailwind to sales and earnings.

$UTX {{ '2017-10-24T12:08:10+0000' | timeago}} • Infographic

$UTX United Technologies Corp. Earnings AlphaGraphic: Q3 2017 Highlights

$UTX {{ '2017-10-24T11:33:01+0000' | timeago}} • Announcement

$UTX, which recently declared dividend of 70 cents a share, said new equipment orders at Otis for 3Q17 were down 4% at constant currency versus the prior year. Equipment orders at UTC Climate, Controls & Security rose by 2% organically. Commercial aftermarket sales were up 11% at both Pratt & Whitney and UTC Aerospace Systems.

$UTX {{ '2017-10-24T11:31:40+0000' | timeago}} • Announcement

Despite reporting a lower earnings in 3Q17, $UTX lifted its 2017 adjusted EPS guidance to $6.58-6.63 from $6.45-6.60. $UTX tightened its sales outlook to $59-59.5Bil from $58.5-59.5Bil. The company raised the guidance against the backdrop of continued focus on strategic priorities execution and with clear line of slight into 4Q17.

$UTX {{ '2017-10-24T11:30:58+0000' | timeago}} • Announcement

$UTX's net sales for 3Q17 grew 5% to $15.06Bil from last year. This growth includes 6 points of organic growth and 1 point of favorable foreign exchange, offset by 2 points of non-recurring items. CEO Grey Hayes said the company's sustained investments in innovation have resulted in its best quarter of organic growth since 2011.

$UTX {{ '2017-10-24T11:27:47+0000' | timeago}} • Announcement

$UTX, which is in the midst of a deal to buy $COL, reported a drop in 3Q17 earnings from continuing operations due to higher costs and expenses. Income from continuing operations slid to $1.43Bil or $1.67 per share from $1.53Bil or $1.74 per share last year. Adjusted EPS declined 2% to $1.73.

$UTX {{ '2017-10-11T22:12:28+0000' | timeago}} • Announcement

$UTX elected Meghan L. O'Sullivan to its BoD, effective Nov. 1, 2017. O'Sullivan has been a member of the Harvard faculty since 2008 and she is an adjunct senior fellow at the Council on Foreign Relations.

$UTX {{ '2017-10-11T17:06:41+0000' | timeago}} • Announcement

$UTX's BoD declared a quarterly dividend of 70 cents per common share. The dividend will be payable on Dec. 10 to shareowners of record at the close of business on Nov. 17.

$UTX {{ '2017-10-09T14:36:35+0000' | timeago}} • Announcement

$UTX has named Judy Marks as President of Otis, a manufacturer and service provider of elevators, escalators and moving walkways. Marks joins UTC from Siemens, where she served as CEO of Siemens USA and as CEO of Dresser-Rand, a Siemens business. She will report to United Technologies CEO Greg Hayes.

$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.

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