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United Technologies Corporation (UTX)

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  • Jul. 14, 2014, 7:24 AM
    • Alcoa (NYSE:AA) signs a 10-year, $1.1B deal to supply engine parts to United Technologies' (NYSE:UTX) Pratt & Whitney unit, including forging for aluminum fan blades for jet engines.
    • The agreement gives AA a key role on Pratt's new PW1100G geared turbofan engine as well as other commercial and military turbines; more than 5K of the more fuel efficient PW1000Gs have been sold even before aircraft using the engine enter service from next year.
    • The PW1000G's architecture, which allows the fan to rotate more slowly than on other aircraft, opened the door to the application of advanced aluminum alloys that offer price and weight advantages over titanium designs, Alcoa CEO Klaus Kleinfeld says.
    | 12 Comments
  • Jul. 11, 2014, 7:09 AM
    • The Lockheed Martin (LMT) F-35 remains grounded, and will most likely miss its other international air shows in the U.K next week, although the Pentagon states that the June malfunction causing an engine fire is likely not a systematic issue.
    • "We really want to get at the root cause of this to determine exactly what caused it," says Defense Undersecretary Frank Kendall. "There's a growing body of evidence that this may have been an individual situation, not a systemic one. But we don't know that for certain at this point in time."
    • The fighter jet's engine is manufactured by Pratt & Whitney (UTX).
    | Comment!
  • Jul. 9, 2014, 7:12 AM
    • A decision has still not been reached over whether to allow the Lockheed Martin (LMT) F-35 to debut at two international air shows this Friday and next week. The popular air shows will allow foreign customers to get a good look at the warplane with the hope of increasing sales.
    • The entire F-35 fleet was grounded following an engine fire in Florida this past week, and mandatory inspections had been imposed on each of the plane's Pratt & Whitney-made (UTX) engine.
    • Previous coverage
    | Comment!
  • Jul. 8, 2014, 1:45 AM
    • Most Lockheed Martin (LMT) F-35 fighter jets have been inspected, after the entire fleet was grounded last week. The U.S. military had suspended all flights after an engine broke apart and caught fire at an Air Force Base in Florida.
    • The incident has put contract negotiations for the next batch of fighter jets and engines on hold. The warplane's engine is manufactured by Pratt & Whitney (UTX).
    • The F-35 was also supposed to make its international debut at two air shows in Britain on Friday and next week, although no decision has yet been made on whether to allow the jets to fly to Britain.
    | 1 Comment
  • Jul. 4, 2014, 2:02 AM
    • The U.S. military has grounded its entire fleet of Lockheed Martin (LMT) F-35 fighter jets, until additional inspections are conducted on the warplane's engine manufactured by Pratt & Whitney (UTX).
    • It was reported yesterday that U.S. and British authorities were looking into requiring mandatory inspections on the F-35, after an engine caught fire in Florida last week.
    | 60 Comments
  • Jul. 3, 2014, 9:46 AM
    U.S. and British authorities are looking to require mandatory inspections on all Lockheed Martin (LMT +0.6%) F-35 fighter jets, after another incident took place last week involving an engine fire. The engines are manufactured by Pratt & Whitney (UTX +0.5%).
    | 7 Comments
  • Jul. 2, 2014, 4:38 AM
    • Reuters reports American Airlines (AAL) is close to completing a $2.6B engine order from CFM International, a joint venture between GE (GE) and Safran (SAFRF). The 200 new engines will be placed on new Airbus A320neo jetliners that the company has on a firm order.
    • The purchase will mark a loss for United Technologies' (UTX) Pratt and Whitney unit, the only other engine maker for the A320neo.
    • AAL +0.1% AH
    | 7 Comments
  • Jun. 26, 2014, 5:45 PM
    • The Pentagon awards a $1.28B contract to United Technologies' (UTX) Sikorsky division for combat rescue helicopters to replace an aging fleet; it is Sikorsky’s second major chopper contract from the military in less than two months.
    • The agreement could be worth up to $7.9B if all options are exercised for as many as 112 new helicopters based on the UH-60M Black Hawk made by Sikorsky in partnership with Lockheed Martin (LMT), which is building the onboard mission systems.
    • The program's future still rests on the outcome of congressional wrangling over the latest defense budget and efforts to prevent the retirement of the A-10 jet.
    | 14 Comments
  • Jun. 19, 2014, 8:21 AM
    • United Technologies (UTX) reaffirms its 2014 EPS target of $6.65-6.85. The affirmation follows the announcement that its subsidiary Sikorsky Aircraft has completed the signing of a contract amendment with the Canadian government regarding the delivery of CH148 Cyclone helicopters.
    | Comment!
  • Jun. 16, 2014, 1:47 AM
    • After a a Marine Corps Lockheed Martin (LMT) F-35B model experienced an in-flight emergency last week, the U.S. military has ordered mandatory inspections on all F-35 fighter jets before any further flights.
    • The issue relates to the engine's oil flow management valve fitting, built by Pratt & Whitney (UTX).
    • LMT -0.02% AH
    • UTX -0.12% AH
    | Comment!
  • Jun. 12, 2014, 7:27 AM
    • United Technologies (UTX) has declared a dividend of 59 cents per common share payable September 10.
    | Comment!
  • Jun. 5, 2014, 3:39 PM
    • United Technologies (UTX +0.8%) CFO Gregory Hayes says testing of Bombardier's (BDRBF, BOMBF) CSeries jet should resume soon based on the early findings of an investigation into a fault in one of the plane's engines.
    • Pratt & Whitney, the UTX engine arm, has been inspecting a PW1500 turbine that suffered a major fault last week during ground testing of a CSeries test plane.
    • Investigation of the incident continues, but the fault is not linked to the gear technology that is key to delivering the engine's fuel-efficiency gains Pratt & Whitney is promising, Hayes says.
    | Comment!
  • May 30, 2014, 4:49 PM
    • Bombardier's (BDRBF, BOMBF) CSeries jet experienced a major engine failure during ground testing, and the jet's flight test program is suspended pending an inquiry, in a potential setback in its effort to compete with Boeing (BA) and Airbus (EADSF, EADSY).
    • Further time lost in trials would extend the struggles for a plane Bombardier hopes will produce as much as $8B/year in revenue later this decade.
    • The CSeries is powered by new engines developed by the Pratt & Whitney unit of United Technologies (UTX) that use a geared system to let different parts of the engine spin at different speeds, offering better fuel consumption than traditional designs.
    | 2 Comments
  • May 21, 2014, 10:55 AM
    • The U.S. Navy is in talks with other governments to boost by 50% the planned purchase of CH-53K helicopters built by United Technologies' (UTX +1.5%) Sikorsky unit.
    • Negotiations to sell as many as 100 of the new heavy lift helicopters are well under way, according to the Navy's international program manager for heavy lift helicopters.
    • The CH-53K has far more powerful engines than the current model can deliver; the engines, supplied by GE, allow the helicopter to carry 27K lbs. of cargo over a range of 110 nautical miles.
    | Comment!
  • May 20, 2014, 10:45 AM
    • United Technologies' (UTX -0.7%) Pratt & Whitney unit says it has signed more than $10B in long-term supply agreements in the past year.
    • The agreements with more than 90 suppliers include parts for Pratt's new geared turbofan engine, which is helping revitalize the company's business providing engines to commercial jets.
    • The unit also says it is making significant investments in its global facilities as it prepares for an increase in commercial and military engine production.
    | Comment!
  • May 7, 2014, 6:19 PM
    • United Technologies' (UTX) Sikorsky Aircraft unit wins an initial $1.24B Pentagon contract for six new U.S. presidential helicopters, the first step toward a fleet of 21 new aircraft by 2023.
    • Sikorsky is awarded a fixed-price incentive type contract, which sets a ceiling while rewarding a contract for keeping costs less than targets; an earlier program managed by Lockheed Martin was canceled in 2009 after what started as a $6.1B project for as many as 28 copters grew to a projected $13B.
    • GE will supply engines for the Marine One, a modified version of Sikorsky’s S-92 helicopter.
    | 1 Comment
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Company Description
United Technologies Corporation provides high technology products and services to the building systems and aerospace industries. Its business segments are Otis, UTC Climate, Controls & Security, Pratt & Whitney, UTC Aerospace Systems and Sikorsky.
Country: United States