Key Developments: United Technologies Corp (UTX)

UTX on New York Consolidated

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24 Apr 2015
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Latest Key Developments (Source: Significant Developments)

United Technologies Corp reaffirms FY 2015 outlook
Tuesday, 21 Apr 2015 07:00am EDT 

United Technologies Corp:Remains confident of 3 to 5 pct organic top line growth and sales of $65 to $66 billion for FY 2015.FY 2015 earnings per share guidance of $6.85 to $7.05.FY 2015 revenue of $65.38 bln, EPS of $6.98 - Thomson Reuters I/B/E/S.  Full Article

United Technologies Corp wins reversal of $657 million award over engine prices - Reuters
Monday, 6 Apr 2015 06:52pm EDT 

United Technologies Corp:Won the reversal of a $657 million judgment imposed over decades-old claims accusing its Pratt & Whitney unit of overcharging the federal government on jet engines for the military - Reuters.The 6th U.S. Circuit Court of Appeals in Cincinnati said the government did not prove damages from false statements allegedly made by Pratt when it competed in 1983 with GE Aircraft for a contract to supply engines for the F-15 and F-16 fighter jets.The decision returned the case to U.S. District Judge Thomas Rose in Dayton, Ohio, who in June 2013 awarded damages for what the government said was six years of overcharges.The government originally sued Pratt in 1999.Nine years later, Rose fined Pratt $7 million for violations of the federal False Claims Act, but found no actual damages because Pratt had given the government price concessions.The 6th Circuit upheld the fine but reversed the damages finding in 2010, leading to the subsequent award of damages and United Technologies' latest appeal.According to court papers, the government sued in Dayton because some of Pratt's alleged improper activity occurred at the nearby Wright-Patterson Air Force Base.  Full Article

United Technologies's UTC Aerospace Systems receives contract to provide submarine acoustic windows for naval undersea warfare center
Monday, 6 Apr 2015 08:00am EDT 

United Technologies Corp:Says UTC Aerospace Systems, has reached an agreement with the U.S. Naval Undersea Warfare Center to provide high frequency acoustic windows for submarines.Five-year indefinite delivery, indefinite quantity contract covers deliveries through 2020 to the U.S. Navy.Work will be performed by the Engineered Polymer Products (EPP) team in Jacksonville, Florida, which is part of UTC Aerospace Systems' Aerostructures business.  Full Article

United Technologies Corp's Pratt & Whitney continues to build production readiness with more than $18 bln in supplier long-term agreements
Thursday, 2 Apr 2015 01:00pm EDT 

Pratt & Whitney:Signs nearly 200 long-term agreements involving a projected spend of more than $18 bln with key product suppliers from around the world.Says these agreements will help the company support increased production levels as it prepares for an expected doubling inengine production by the end of the decade.Says these long-term agreements are with trusted suppliers committed to understanding and meeting Pratt & Whitney's rigorous quality, cost and delivery requirements, and ethical standards.Says the suppliers will provide key parts and components for Pratt & Whitney's large engine business.Including the PurePower PW1000G family of engines, the F135 military engine, and Pratt & Whitney Canada's engines, such as the PurePower PW800, to assure delivery to customers over the life of the engine programs.Pratt & Whitney is a division of United Technologies Corp.  Full Article

United Technologies Corp to explore strategic alternatives for Sikorsky Aircraft business
Wednesday, 11 Mar 2015 08:08pm EDT 

United Technologies Corp:Says that its board has authorized a review of strategic alternatives for the company's Sikorsky Aircraft business, including potential tax-free spinoff.Says that as part of portfolio review announced last Dec., the company is exploring strategic options for Sikorsky to determine best way to enhance its long-term success and create improved long-term value for UTC's customers and shareholders.Expects to conclude its strategic review before end of the year.However, no specific timetable has been set, and there can be no assurance that a spinoff or any other transaction will take place.Likewise, no decision has been made on timing or terms of any such transaction if one were to occur.  Full Article

United Technologies Corp reaffirms FY 2015 EPS guidance - Conference Call
Wednesday, 18 Feb 2015 11:25am EST 

United Technologies Corp:Says guidance for FY 2015 is now $6.85 to $7.05.FY 2015 EPS of $7.02 - Thomson Reuters I/B/E/S.  Full Article

United Technologies Corp gets department of energy contract
Wednesday, 11 Feb 2015 11:00am EST 

United Technologies Corp:Has been awarded a one-year $744,154 contract by the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy (EERE) to develop a database of materials for the manufacturing of high-performance industrial and commercial non-metallic heat exchangers.  Full Article

NASA selects United Technologies Corp's UTC Aerospace Systems NP2000 Propellers and Electronic Propeller Control Systems
Tuesday, 10 Feb 2015 08:00am EST 

United Technologies Corp:NASA has selected UTC Aerospace Systems for the NP2000 propeller modernization of a P-3 aircraft.The agreement provides for procurement and installation of NP2000 propellers with electronic propeller control systems and will include engineering, technical and logistics services within the next two years.UTC Aerospace Systems is a unit of United Technologies Corp.The NP2000 is being offered to replace the HS 54H60 propeller system for the P-3.  Full Article

United Technologies Corp increases dividend
Monday, 2 Feb 2015 05:05pm EST 

United Technologies Corp:Declares an 8.5 pct increase in its first quarter dividend to 64 cents per common share.Payable March 10 to shareowners of record at the close of business Feb. 13.Ex-dividend date will be Feb. 11.  Full Article

United Technologies Corp lowers FY 2015 guidance
Monday, 26 Jan 2015 04:05pm EST 

United Technologies Corp:Says that with continuing strengthening of the US dollar, as well as additional pension discount rate headwind, the company expect FY 2015 EPS of $6.85 to $7.05, on sales of $65 billion to $66 billion.FY 2015 EPS of $7.19 and revenue of $67 billion - Thomson Reuters I/B/E/S.  Full Article

DIARY-U.S. MEETINGS/WEEK AHEAD

Thomson Reuters April 24, 2015 - Corporate Meetings for US companies for Week ahead. S&P 500 Earnings - MONTH AHEAD Dividends Non S&P 500 - Weekly Federal Reserve events ConferenceCall/Webcast - Weekly Meetings - Weekly Xtra users can see more details on conference calls & webcasts by hovering your mouse over the RIC, right click, no click on Related Co Data, now click on Co Events.

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