United Technologies Cuts Sales Forecasts | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

 Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.13.24

Airborne-NextGen-05.14.24

 Airborne-Unlimited-05.15.24 Airborne-AffordableFlyers-05.16.24

Airborne-Unlimited-05.17.24

Thu, Oct 25, 2012

United Technologies Cuts Sales Forecasts

Cites Global Economic Uncertainty, Fewer Airline Spare Parts Orders

Against a backdrop of ongoing global economic uncertainty and fewer orders for spare parts on the part of the world's airlines, United Technologies has cut its annual sales forecast even while its third quarter profit rose.

The Hartford, CT-based conglomerate says it expects full-year sales to be in the range of $58 billion, down about a billion dollars from its previous forecast. United Technologies Chief Executive Louis Chenevert said in an interview with the Wall Street Journal that Europe continues to be a "real challenge," and that while the U.S. economic recovery had begun, "it is going to be a slow recovery."

The bottom line was boosted by the company's recent acquisition of Goodrich, but its Pratt & Whitney division profit fell by 18 percent in the third quarter in part due to U.S. defense cuts. Chenevert also said that those cuts hurt its Sikorsky helicopter business.

On the plus side, company reported that UTC Aerospace Systems, which includes Goodrich and Hamilton Sustrand, saw revenue double and earnings up 33 percent.

FMI: www.utc.com

Advertisement

More News

ANN's Daily Aero-Term (05.17.24): Very High Frequency

Very High Frequency The frequency band between 30 and 300 MHz. Portions of this band, 108 to 118 MHz, are used for certain NAVAIDs; 118 to 136 MHz are used for civil air/ground voi>[...]

ANN's Daily Aero-Linx (05.17.24)

Aero Linx: Aviation Suppliers Association Established February 25, 1993, the Aviation Suppliers Association (ASA), based in Washington, D.C., is a not-for-profit association, repre>[...]

ANN FAQ: Submit a News Story!

Have A Story That NEEDS To Be Featured On Aero-News? Here’s How To Submit A Story To Our Team Some of the greatest new stories ANN has ever covered have been submitted by our>[...]

Classic Aero-TV: ANN Visits Wings Over The Rockies Exploration Of Flight

From 2021 (YouTube Version): Colorado Campus Offers aVariety Of Aerospace Entertainment And Education Wings over the Rockies Exploration of Flight is the second location for the Wi>[...]

Airborne Affordable Flyers 05.16.24: PRA Runway, Wag-Aero Sold, Young Eagles

Also: Paramotor Champ's, Electric Ultralight, ICON BK Update, Burt Rutan at Oshkosh! The Popular Rotorcraft Association is reaching out for help in rebuilding their private runway >[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne 05.17.24: Hummingbird 'Best', Cavorite Flies, Starliner Update

Airborne Affordable Flyers 05.16.24: PRA Runway, Wag-Aero Sold, Young Eagles

Airborne 05.15.24: Ghost Sq MidAir, B-2 Junked, Dream Chaser Readies

See All

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC