Edition:
India

United Technologies Says 737 MAX Grounding Helping Commercial Aftermarket Sales - CFO


Tuesday, 23 Jul 2019 

July 23 (Reuters) - United Technologies Corp ::UNITED TECHNOLOGIES SAYS MAX GROUNDING HELPING COMMERCIAL AFTERMARKET SALES AS AIRLINES UTILIZE OLDER FLEET - CFO.UTC SAYS STILL EXPECT AN UP TO 10 CENTS PER SHARE IMPACT ON FULL YEAR EARNINGS DUE TO MAX GROUNDING - CFO.UTC SAYS, "AS WE TALKING TO INVESTORS, PEOPLE ARE STARTING TO SEE THE BENEFITS OF UTC-RAYTHEON DEAL" - CFO.UTC SAYS COLLINS INTEGRATION GOING “EXTREMELY WELL” CFO.UTC SAYS TAKEN UP THE COLLINS SALES GUIDANCE BY $150 MILLION FOR 2019; ACCRETION TO EARNINGS FOR THE CURRENT YEAR GOING UP BY 15 CENTS TO 50 CENTS - CFO.UTC EXPECTS COST SYNERGIES FROM COLLINS DEAL ABOUT $200 MILLION IN 2019, UP FROM $150 MILLION ESTIMATED PREVIOUSLY; SEE HIGHER CONFIDENCE IN ACHIEVING TOTAL COST SYNERGIES ABOUT $600 MILLION - CFO.UTC EXPECTS CARRIER UNIT TO GROW AT SLOWER RATE IN 2019 THAN PREVIOUSLY EXPECTED - CFO.UTC SEEING WEAKNESS IN THE CARRIER BUSINESS IN EUROPE; COOL START TO THE SUMMER IN THE U.S. ALSO AFFECTED CARRIER RESIDENTIAL SALES – CFO.UTC SAYS SEEING INCREMENTAL WEAKNESS IN EUROPE FOR BOTH OTIS AND CARRIER BUSINESSES – CFO.UTC SAYS CHINA FEELS “INCREMENTALLY BETTER” THAN WHAT CO HAD EXPECTED COMING INTO THE YEAR FOR OTIS – CFO.UTC SAYS OTIS ORDER IN CHINA GREW BY 5% IN VALUE TERMS IN Q2; U.S. ACTIVITY IS STABLE FOR OTIS – CFO.