The stock had a lacklustre performance in FY12 primarily due to largely debt funded set of acquisitions, divestments that were not closed yet and weak top line due to Otis’ market share loss in China, weakness in European commercial markets and weakness in commercial aerospace after markets. On March 14, 2013, the company reaffirmed the outlook for 2013 indicating a floor to some of these problems. FY13 EPS guidance was more »
By Vineeta Mittal - April 12, 2013
FY13 and FY14 are going to be the recovery years for UTX after the troublesome FY12, when two of the five segments i.e. Pratt & Whitney and Otis saw earnings drop. Moreover, high interest expense due to largely debt funded acquisition of GoodRich in FY12, underfunded pension liabilities of more than $5 billion and number of shares outstanding (NOSH) were other headwinds that company is still dealing with. The stock more »
Disappointing Results for 2Q13….
The company reported 2Q13 EPS of $1.39 well below consensus of $1.41, indicating that Super-storm Sandy reduced 2Q13 earnings by $0.11/share at the Express Division. Moderate growth in revenues (4.9% yoy) was offset more »