Commercial, Embedded Avionics

UTC Aerosystems Reports 2014 Earnings, 2015 Outlook

By Juliet Van Wagenen | January 27, 2015
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[Avionics Today 01-27-2015] United Technologies Corp. (UTC) reported its full year 2014 earnings with net income attributable to common shareowners at $6.2 billion, up 9 percent over 2014. Sales were reported at $65.1 billion, also up 4 percent when compared to last year. Commercial aftermarket sales were down 6 percent at its subsidiary Pratt & Whitney, however, but up 5 percent at UTC Aerospace Systems.

"Strong conversion on solid topline growth, continued cost reductions and benefits from lower pension expense drove the double digit earnings increase for the year,” said Gregory Hayes, UTC president & CEO.

UTC expects to invest $1.7 billion in capital expenditures in 2015, and continues to estimate cash flow from operations less capital expenditures in the range of 90 to 100 percent of net income attributable to common shareowners.

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