26 jul: USA/aktier: Optimismen bobler
26 jul: Torsdagens obligationer: Spanien fik tiltrængt åndedrag
26-07-2012 16:24:00

UPDATE: United Tech 2nd Quarter Net Rises 0.8%, Cuts View

Relateret indhold

--United Tech receives regulatory clearance on its acquisition of Goodrich Corp.

--United Tech second-quarter profit rose 0.8% amid a revenue decline

--Company cuts its full-year outlook on slowing global economy and late July close for Goodrich

(Updates with details on the regulatory clearance of the Goodrich deal.)

By Victoria Stilwell

United Technologies Corp.'s (UTX) second-quarter profit edged up 0.8% and the company cut its full-year guidance, while the company said it received all regulatory approval related its $16.5 billion deal to acquire aircraft-components maker Goodrich Corp. (GR).

The industrial conglomerate said the acquisition, initially announced on Sept. 21, is expected to close by the end of the week after Thursday's conclusion of the regulatory review by the U.S. Department of Justice and the European Commission.

The regulatory clearance requires United Tech to sell Goodrich's electric power systems business and its pumps and engine controls business. The company will also sell Goodrich's interest in Aero Engine Controls, a joint venture with Rolls-Royce Holdings PLC (RR.LN). Although the AEC aftermarket business will stay with United Tech, Rolls Royce will have the ability to purchase the business in the future.

The Justice Department is also requiring that United Tech extend the term of certain contracts held by customers of Goodrich's engine control systems business for 30 days after its divestiture and provide supply and transition services agreements to the buyers of divested assets to help them fulfill the obligations of the businesses.

The department said that left alone, the acquisition would have resulted in higher prices, less favorable contractual terms and less innovation in aircraft components.

United Tech lowered its full-year guidance in light of the slowing global economy and late-July close for Goodrich, now expecting sales of $58 billion to $59 billion and per-share earnings of $5.25 to $5.35. The company previously predicted sales of $61 billion to $62 billion on earnings of $5.30 to $5.50 a share. The company also said it will increase its investment on restructuring to $500 million from $450 million.

For the second quarter, United Technologies reported a profit of $1.33 billion, or $1.47 a share, fractionally up from a year-earlier profit of $1.32 billion, or $1.44 a share. The company's per-share earnings from continuing operations rose to $1.62 from $1.41 a year earlier.

The latest period included 10 cents a share of favorable one-time items, partially offset by 6 cents in restructuring costs. The year-earlier period included a currency translation gain of 6 cents.

Revenue declined 4.6% to $13.81 billion.

Analysts surveyed by Thomson Reuters recently expected a per-share profit of $1.41 on revenue of $14.45 billion.

Revenue from Pratt & Whitney rose 5.2% as profit edged up 0.7%, while revenue at the Otis unit decreased 5.2% and profit fell 12%.

Total costs and expenses dropped 4.5% to $12 billion.

Shares were recently up 2.6% at $74.40.

Write to Victoria Stilwell at Victoria.Stilwell@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

July 26, 2012 10:24 ET (14:24 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Delårsrapport 2015 for Euroinvestor.com A/S

28-08-2015 12:51:53
Fondsbørsmeddelelse nr. 9. 2015 28. august 2015 Rekordresultat efter 1. halvår Euroinvestor.com A/S opnåede i 1. halvår 2015 en omsæt..

Novo/Leerink: Dækning indledes med "marketperform" og mål 374

28-08-2015 07:28:52
Novo Nordisk får opmærksomhed fra den amerikanske "health care"-investmentbank Leerink Partners, der indleder dækning af medicinalkoncernen med anbefalingen "ma..

Novo Nordisk køber to amerikanske virksomheder - NY

27-08-2015 15:13:31
Novo Nordisk udvider sin portefølje af projekter inden for diabetes og fedme med opkøbet af de to amerikanske forskningsvirksomheder Calibrium LLC og MB2 LLC.De..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Aktier/middag: Nervøsitet trækker C20 i minus
2
Novo/Leerink: Dækning indledes med "marketperform" og mål 374
3
Chefstrateg: Ser lyse aktieudsigter trods turbulens
4
Analyse: Mærsk var regnskabssæsonens helt store vinder
5
Vestas vinder ordre i Finland på 73 megawatt

Relaterede aktiekurser

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2015  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
29. august 2015 09:21:02
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20150824.1 - EUROWEB6 - 2015-08-29 09:21:02 - 2015-08-29 09:21:02 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x