Mon, Jan. 26, 6:38 PM
- The story of Q4 at United Technologies (NYSE:UTX) "really is one word, and that’s ‘currency,’” CEO Greg Hayes says in the earnings conference call, as the company - which derives 62% of sales from outside the U.S. - is hurt by the strengthening dollar once those sales are translated back into the U.S. currency.
- UTX had projected a 6% decline in the value of the euro vs. the dollar when it briefed investors Dec. 10, but the euro has fallen another 12% since then, Hayes said, whacking $0.24 off anticipated FY 2015 EPS.
- To offset some of the currency impact, Hayes says UTX will costs and raise its planned share buyback for the year from $2B to $3B.
- UTX executives said nothing had changed in the company's fundamental outlook, backing its forecast for 3%-5% in organic sales growth for the year.
- UTX -2.1% AH.
Mon, Jan. 26, 4:51 PM
- United Technologies (NYSE:UTX) -2.3% AH after Q4 earnings met expectations but it cut its FY 2015 outlook due to negative impacts from the stronger dollar.
- UTX says it sees 2015 EPS of $6.85-$7.05 per share, down from its prior range of $7.00-$7.20 and below analyst consensus of $7.19, and FY 2015 revenues of $65B-$66B vs. $66.9B consensus.
- In Q4, UTX says new equipment orders at its Otis elevator business rose 12% Y/Y, excluding foreign exchange fluctuations, but sales at aerospace subsidiary Pratt & Whitney fell 6%.
- Equipment orders at UTC Climate, Controls & Security gained 11%; commercial aftermarket sales rose 5% for UTC Aerospace Systems.
Mon, Jan. 26, 4:11 PM| Comment!
Mon, Jan. 26, 10:21 AM| Comment!
Oct. 21, 2014, 7:39 AM
- United Technologies (NYSE:UTX) reports a Q3 net profit increase of $1.85B, up 31% Y/Y from $1.4B.
- Sales increased 5% Y/Y to $16.2B, all driven by organic growth.
- "With double-digit earnings and 4% organic sales growth through the first three quarters, UTC remains on track to deliver on our expectations for the year," says CEO Louis Chenevert. "Our solid backlog and organic growth trends continue to give us confidence in our earnings per share range of $6.75 to $6.85, on sales of about $65B."
- Q3 earnings
- UTX +1.5% premarket
Oct. 21, 2014, 7:00 AM| Comment!
Oct. 20, 2014, 5:30 PM
Jul. 22, 2014, 8:25 AM
- United Technologies (NYSE:UTX) reports a Q2 net profit increase of $1.68B, up 7.7% Y/Y from $1.56B.
- Sales increased 7% Y/Y to $17.2B, while revenue climbed 7.4% to $17.19B.
- "Our focus on growth opportunities and execution in our core markets resulted in another solid quarter," says CEO Louis Chenevert. "We saw a fourth consecutive quarter of organic sales growth, along with strong margin expansion."
- The company also raised the lower end of its earnings guidance range for 2014 by $0.10 per share, citing strong results in the first half of the year. It now expects earnings of $6.75 to $6.85 per share.
- Cash flow from operations was $1.7B and capital expenditures totaled $406M.
- Q2 earnings
- UTX +0.8% premarket
Jul. 22, 2014, 7:02 AM| 1 Comment
Jul. 21, 2014, 5:30 PM
Jun. 19, 2014, 8:21 AM| Comment!
Apr. 22, 2014, 7:19 AM
- United Tech (UTX) net profit -4% to $1.2B, or $1.32 a share, including $0.09 a share of restructuring costs.
- Segment operating profit +4%.
- Sales breakdown: Otis $3B vs $2.81B a year earlier; Climate, Controls & Security $3.85B vs $3.84B; Pratt & Whitney $3.33B vs $3.4B; Aerospace Systems $3.45B vs $3.26B; Sikorsky $1.36B vs $1.25B.
- To increase restructuring spending to $375M from $300M.
- Increases lower end of 2014 EPS outlook and now expects $6.65-6.85 vs $6.55-6.85 previously and consensus of $6.83.
- "Continued organic growth and orders strength give us confidence in our sales expectation of $64B for 2014," says CEO Louis Chenevert. (PR)
Apr. 22, 2014, 7:00 AM| 1 Comment
Apr. 22, 2014, 12:05 AM
Apr. 21, 2014, 5:30 PM
Jan. 22, 2014, 7:40 AM
- United Tech (UTX -1.7%) "Comprehensive income" $3.9B vs $1.27B a year earlier, which included greater restructuring costs and other one-time charges.
- Organic sales +4%.
- Sales breakdown: Otis $3.34B vs $2.205B in 2012; Climate, Controls & Security $4.19B vs $4.15B; Pratt & Whitney $4.09B vs $3.89B; Aerospace Systems $3.45B vs $3.17B; Sikorsky $1.9B vs $3.17B.
- United Tech expects 2014 EPS of $6.55-6.85 vs consensus of 6.82 and sales of $64B vs $65.36B
- Intends to buy back $1B worth of shares in 2014 and spend the same amount on acquisitions. (PR)
UTX vs. ETF Alternatives
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.
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