logo
Plus   Neg
Share
Email

United Technologies Provide FY20 Outlook For Pratt & Whitney, Collins Aerospace

While reporting financial results for the fourth quarter on Tuesday, United Technologies Corp. (UTX) provided financial outlook for the full-year 2020 for Pratt & Whitney and Collins Aerospace.

The company noted that the outlooks for Carrier and Otis will be provided in conjunction with their upcoming pre-spin investor meetings scheduled for February 10th and 11th, respectively. The outlook for Raytheon Technologies will also be provided after the merger closes.

For fiscal 2020, Pratt & Whitney sales is expected to be up in the mid-single-digit and adjusted operating profit to be up $225 million to $275 million, both compared to 2019.

Meanwhile, Collins Aerospace sales is projected to be down in low-single-digit versus 2019, including an estimated 5 point headwind resulting from the suspension of 737 MAX production, lower ADS-B mandate sales and the expected impact of divestitures associated with the Raytheon merger.

Collins Aerospace adjusted operating profit is also expected to be down $275 million to $325 million versus 2019, including an estimated headwind of approximately $550 to $600 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Lowe's (LOW) is temporarily increasing wages of its employees. The latest move by the hardware retailer is to help its employees cope with the economical effects caused by the ongoing COVID-19 pandemic. The company has hiked salary by $2 per hour for all full-time, part-time, and seasonal hourly associates,... Amazon.com Inc. (AMZN) Founder and CEO Jeff Bezos is donating $100 million to food banks across the U.S. to support poor people who cannot afford food during this coronavirus crisis. Bezos made a $100 million gift to Feeding America, one of the largest U.S. nonprofit focused on food security. Feeding... Facebook on Thursday shared an update on its $100 million small-business grants program announced in March, saying that it will provide $40 million in grants to 10,000 U.S. small businesses that were impacted by the coronavirus pandemic. In March, the social media giant said it is offering $100 million in cash grants and ad credits for up to 30,000 eligible small businesses.
Follow RTT
>