United Tech CEO says ready to 'turn up the heat' on acquisitions
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UTC Reports Second Quarter 2015 Results; Revises 2015 EPS Expectations
July 21, 2015 7:01 AM EDTHARTFORD, Conn., July 21, 2015 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) today reported second quarter earnings per share of $1.73 and net income attributable to common shareowners of $1.5 billion, down 6 percent and 8 percent respectively versus the prior year. Â Results for the current quarter include unfavorable one-time items and restructuring charges of $0.08 per share. Â Net favorable one-time items offset restructuring costs in the second quarter of last year. Â Excluding these items in both quarters, earnings per share of $1.81 decreased 2 percent year over year. Â Foreign currency had an unfavorable impact of... More
United Technologies Announces Agreement To Sell Sikorsky Aircraft
July 20, 2015 7:32 AM EDTHARTFORD, Conn., July 20, 2015 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) today announced that it has reached an agreement to sell its Sikorsky Aircraft business to Lockheed Martin Corp. (NYSE: LMT) for $9 billion in cash. The transaction, which is subject to regulatory approvals and customary closing conditions and adjustments, is projected to close by year-end or in the first quarter of 2016. Proceeds from the sale are expected to be used to fund additional share repurchase to offset the earnings impact related to the sale.
"We... More
