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United Technologies Corporation Message Board

kidmadeira 36 posts  |  Last Activity: Jul 12, 2016 9:57 AM Member since: Oct 17, 1999
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  • kidmadeira kidmadeira Apr 26, 2016 3:06 PM Flag

    W2B,.....Nice to see you climb out of the foxhole. Your bullish call is scary. BTW, Hayes was afraid of a strong USD, not a weak one
    July 21, 2015
    United Technologies Corp. Chief Executive Gregory Hayes delivered disappointing second-quarter results in which the company cut its annual earnings forecast after overestimating its airplane aftermarket business and banking on an economic rebound in Europe that failed to arrive.
    The company’s shares fell 7% to $102.71 in 4 p.m. composite trading on the New York Stock Exchange on Tuesday, its largest one-day point decline since Sept. 17, 2001, the first trading day after the Sept. 11, 2001, terrorist attacks. The maker of Pratt & Whitney jet engines, Otis elevators and Carrier air conditioning equipment reported a 5% decline in second-quarter sales. The drop was driven by weakness in its Otis elevator unit, which struggled in Europe and slowed in China, as well as the negative effect of the strong dollar.

  • Airbus deliveries are down this year as Boeing is gaining speed.
    Airbus delivered 177 planes from January to April behind Boeing’s 230 deliveries. Airbus has seen slow deliveries of its new A320neo and A350 aircraft.
    Boeing shares climbed 2.1% to 134.91 in the stock market today, moving aback above its 200-day moving average. Airbus shares were up 2.1% to 15.75.
    The A320neos — which adds aAirbus deliveries are down this year as Boeing is gaining speed.
    Airbus delivered 177 planes from January to April behind Boeing’s 230 deliveries. Airbus has seen slow deliveries of its new A320neo and A350 aircraft.
    Boeing shares climbed 2.1% to 134.91 in the stock market today, moving aback above its 200-day moving average. Airbus shares were up 2.1% to 15.75.
    The A320neos — which adds an acronym at the end of its name to denote a “new engine option” — have been plagued with problems on those very motors from Pratt & Whitney, a division of United Technologies. Meanwhile, the A350s have issues with their cabin equipment. Airbus has only delivered six A320neos and six A350s so far this year.
    United Tech shares rose 2.2%.
    April orders were up for Airbus, helping push the European aerospace giant to 117 orders between January and April. But Boeing still leads with 174 gross orders.
    Last month, Boeing reported a 4.3% drop in first-quarter commercial deliveries to 176 planes on lower demand for its larger 767 and 747 jets. Its backlog includes 5,700 commercial orders valued at $480 billion. But it’s been losing market share to rival Airbus.
    Airbus deliveries are down this year as Boeing is gaining speed.

  • kidmadeira kidmadeira May 11, 2016 9:15 AM Flag

    Digressing from UTX, It has been said that "God loves sinners, he made so many of them". An Irish saying, "May you arrive in heaven an hour before the devil knows you're dead". Regards to Zeke. BTW, this weekend, paella, including New Bedford sea scallops, chourico, mussels etc. made by a friend from Valencia, Spain. I may even upscale from Busch beer, Stella Artois is nice. ........Kid

  • kidmadeira by kidmadeira May 19, 2016 12:58 PM Flag

    Need some positive news from UTX, going nowhere. Can't wait for the extra 2¢ dividend.....Kid

  • kidmadeira by kidmadeira May 24, 2016 1:41 PM Flag

    With a major order from Delta Air Lines , Canada’s Bombardier is ready to disrupt the Boeing Airbus ) duopoly, according to a report Tuesday from Moody’s.
    Earlier this year, Bombardier scored an order for 75 narrow-body CS100 jets from Delta, with an option for 50 more. It was the largest-ever order for Bombardier’s commercial aircraft business, and Delta is expected to become the biggest C Series customer, Moody’s said.
    Delta likely chose the Bombardier jets over Boeing and Airbus models, as Bombardier “has the earliest availability for planes of this type, given the huge backlogs of Boeing and Airbus,” and the Canadian company offered a steep pricing discount.
    Bombardier also “likely has the most technically proficient model in this class of aircraft,” focused on the 100-150 seat market. The plane features a new geared turbofan engine from United Technologies’ Pratt & Whitney division that Moody’s says offers a cost advantage over its peers.
    Airbus ended 2015 with a backlog of 6,787 aircraft with a total value of $996.3 billion at list prices, beating Boeing for the second straight year. Boeing’s year-end backlog was 5,795 commercial jets, but it didn’t give a list-price value.
    Boeing shares fell 0.6% to 126.83 in the stock market today. Airbus jumped 2.5% to 15.57. Delta and United Tech shares were up 1.1% each.

  • kidmadeira by kidmadeira May 24, 2016 2:15 PM Flag

    SAO PAULO, May 23 (Reuters) - The first re-engined aircraft in Brazilian planemaker Embraer SA's narrowbody E-Jet family took its first flight on Monday, months ahead of schedule and below the expected weight.The E190-E2, which enters service in 2018, is the first aircraft in Embraer's commercial jet line-up with new wings and Pratt & Whitney engines aimed at improving fuel efficiency
    "We are about four or five months ahead of schedule with this flight," said Paulo Cesar Silva, head of commercial aviation at Embraer, in a telephone interview. "The plane flew marvelously well, showing real maturity."
    The prototype weighed in "a bit below" its projected weight, said Senior Vice President Luis Carlos Affonso, a rare feat at a phase when planemakers are often battling to shave weight.
    The first flight lasted more than three hours, while the prototype tested its maximum velocity and altitude, the executives said.
    Embraer is also expanding the size and range of its largest commercial jet, the E195, whose next generation enters service in 2019, posing a direct challenge to the new C Series produced by Canadian rival Bombardier Inc.

  • Reply to

    Yawn!

    by kidmadeira May 19, 2016 12:58 PM
    kidmadeira kidmadeira May 25, 2016 11:13 AM Flag

    flyer,.....When UTC buys back stock at 2.95 X book value, the new book value for the outstanding remaining shares falls. UTC had to pay capital gains taxes on the SIK sale, the SIK asset was depreciated significantly over the years, another negative for UTC. SIK revenues and profits are now history for UTC. Hard to see much shareholder value created by the deal. Tax deferral is good strategy in my viewpoint, you can profit by working the capital conserved to make more capital........Kid

  • Reply to

    Yawn!

    by kidmadeira May 19, 2016 12:58 PM
    kidmadeira kidmadeira May 25, 2016 2:32 PM Flag

    flyer,......LMT is up 25.8% and UTX is down 14.5% in the past 52 weeks. So, LMT is managing the government business profit margin very well as far as Wall St is concerned. The "negative engine margin" story has been around for decades. It would not be prudent to sell an engine for less than the marginal cost of production and I don't believe that this is happening. The accounting of development costs must be the driver of the "negative engine margin" issue. Since all new engine programs would enter production with "negative engine margins", then the solution would be to stop building engines to improve the bottom line, not practical if you want to remain in business. Surely, the program life must have been considered in order to secure UTC funding for a new program.....Kid

  • kidmadeira by kidmadeira May 26, 2016 8:36 AM Flag

    Looked at 5 UTC annual reports and discovered that Pratt's operating profits have been unbelievably consistent, $1.8B, $2.0B, $2.0B, $2.0B and $1.6B. I occasionaly play blackjack at the casino, you need a basic understanding of statistical odds to survive. What are the odds of a major league batter having the same batting average in 3 of 5 seasons?, Not good. Some may defend the uncanny repeatable precision of Pratt's profits, but, I am concerned about financial engineering.......Kid

  • Reply to

    Pratt operating profit

    by kidmadeira May 26, 2016 8:36 AM
    kidmadeira kidmadeira May 26, 2016 12:06 PM Flag

    ctb..........Good one, it's like the line in Casablanca, when Captain Renault says: I'm shocked, shocked to find that gambling is going on in here! .....Kid

  • Reply to

    Pratt operating profit

    by kidmadeira May 26, 2016 8:36 AM
    kidmadeira kidmadeira May 26, 2016 12:09 PM Flag

    a9181,.....With 38 years under your belt, you will soon overtake me. I enjoyed working, but, enjoy retirement even more.........Kid

  • kidmadeira by kidmadeira May 28, 2016 10:54 AM Flag

    Korean Air Lines flight KE 2708 from Tokyo-Haneda Airport to Seoul-Gimpo (South Korea) was accelerating for take-off on runway 34R(ight) when the left engine #1 suffered an uncontained failure. Engine type: Pratt + Whitney PW4098.
    Engine debris damaged a fuel line resulting in a fire. The pilots discontinued the take-off run at a speed of approximatelay 80 knots after the pilots received indications about a fuel leak and a fire and triggered the fire bottles. The Boeing 777 decelerated and came to a halt near taxiway „Charlie 5“ about 1500 meters down the runway.
    The crew initiated a full cabin evacuation via onboard chutes. All exits to the right side were used plus the left foreward door L1.
    When airport fire services arrived the engine was still burning and patches of fuel fires on the runway beneath the left maingear were visible. The flames foamed and the fires were extinguished a few minutes later.

  • kidmadeira by kidmadeira May 31, 2016 3:16 PM Flag

    We've casually discussed this in the past, but, still puzzling. The income fund fees are 0.327% of assets, the equity index is 0.008% of assets and he emerging markets equity is 0.092% of assets. So, the income fund fees are 40X what the equity index fees are. These fees are not directly visible, but, are there below the surface. If the fees for the income fund were less the fund could pay a higher interest rate. This is academic to me since I do not invest in the income fund......Kid

  • kidmadeira by kidmadeira Jun 3, 2016 12:44 PM Flag

    June 3, 2016
    DUBLIN—Qatar Airways has canceled the order for its first Airbus Group SE’s A320neo plane in the clearest sign yet that supplier bottlenecks are undermining commitments the European plane maker has made to customers.

  • Reply to

    Ouch!

    by kidmadeira Jun 3, 2016 12:44 PM
    kidmadeira kidmadeira Jun 3, 2016 2:52 PM Flag

    jet,...I liked that, good post!....................Kid

  • kidmadeira by kidmadeira Jun 6, 2016 11:22 AM Flag

    Jet engine maker Pratt & Whitney confronted escalating problems Friday over its next-generation engine after Qatar Airways said it canceled A320 Airbus orders due to delays.The Wall Street Journal and Reuters reported that Akbar Al Baker, chief executive of Qatar Airways, criticized the delays. He spoke with reporters on the sidelines at the International Air Transport Association annual meeting in Dublin.Airbus said it expects delays in deliveries of A320neo aircraft to be resolved by midyear, Reuters reported.Al Baker said the airline should have five A320neos in service by now as part of its agreement, according to The Wall Street Journal. He expressed concern over whether Airbus could make necessary fixes and said deadlines have been missed, with some problems extending into next year.Pratt said in an emailed statement that Al Baker's comments are “completely inaccurate and mischaracterize” the engine's performance.The Pratt engine is fully certified, meets performance and contract specifications and has been delivered to three airlines, Pratt said.“We have resolved the very few initial teething items airlines have experienced,” Pratt said.Production engines now shipping to Airbus include hardware and software improvements, and solutions for the items are “well known and have been extensively covered in detail by the media,” the jet engine maker said.Greg Hayes, CEO of United Technologies, told investor analysts April 27 that Pratt is committed to more than 200 engines this year, most of which will be the so-called neo engine.That number will double next year and rise by another 200 in 2018, he said.United Technologies has staked a lot on what it calls its geared turbofan engine. UTC has invested more than $1 billion over 20 years to research, develop and build the engine it promotes as saving fuel and operating more quietly than other jet engines.Nick Heymann, an analyst at William Blair and Co., said in a note to investors that he continues to believe the commercial future for Pratt's engine “looks very bright.” But the financial returns and risks on the $10 billion engine program are expected to be challenging for at least the rest of this decade, he said.The problem with the engine has largely been related to much longer cooling times than normal before engine start-up to avoid the risk of internal damage, Heymann said.Hayes told investor analysts in January that Pratt identified “a software fix and a minor hardware fix.”He said next-generation commercial engines have to cool down to a uniform standard before the engine start, and the Pratt problem is “not something endemic” to its engine.“The starting time of the cooling is a little longer than what the customer would have liked,” Hayes said.Heymann said Qatar Airways is known “to be a particularly exacting customer,” but canceling an aircraft order due to performance concerns signals that an airline “has lost confidence in the aircraft configuration.”Pratt said in February it's making fixes to its Airbus engines after Al Baker threatened to cancel the order.In addition, the current versions of Airbus' twin-aisle A350 are facing bottlenecks as suppliers struggle to meet deadlines to supply seats and galleys

  • kidmadeira by kidmadeira Jun 7, 2016 7:49 AM Flag

    WINDSOR LOCKS — The chief executive officer of United Technologies Corp. on Monday defended the company's next-generation jet engine, saying it's experiencing nothing more than “teething problems” after one airline canceled Airbus orders over delivery delays.CEO Greg Hayes also rapped rival Connecticut conglomerate General Electric Co., referring to it as a “light bulb company” headed to Boston.The geared turbofan engines manufactured by UTC's jet engine manufacturer, Pratt & Whitney, are meeting “all of their key technical specifications today,” he said.“Obviously, we've had some teething problems that everybody has heard about,” he said at a daylong media briefing near the headquarters of its components manufacturer UTC Aerospace Systems in Windsor Locks. “We have a customer who is particularly vocal.”Qatar Airways said last week it's canceling Airbus orders due to delays.Hayes said the engines, which are touted as quieter and more fuel-efficient than competitors', are “doing exactly what we said they would do.”The engines have made it possible for about 99.8 percent of flight departures to leave within a specified period of a scheduled departure time, he said.“That's a heck of an achievement for a brand new, out-of-the-box engine,” he said.A lot is at stake for UTC, which invested more than $1 billion over 20 years to research, develop and build the engine.Hayes blamed part of the problem on suppliers. About 44 percent of 1,600 suppliers underperform in delivery rates and other measurements, he said.He also took a potshot at General Electric Co., its drive to develop stronger links between its many businesses with the internet, and its move to Boston from Connecticut to be closer to universities and a well-educated workforce.“Unlike that light bulb company in Fairfield that's moving to Boston, we're not going to be a software company at UTC,” Hayes said.A spokeswoman for GE did not immediately respond to an email seeking comment.GE makes a range of products such as medical imaging equipment, railroad locomotives, wind power turbines and jet engines that compete with UTC.“We're not a software company, but clearly, we understand the need for digital,” Hayes said.In a separate presentation, David Gitlin, president of UTC Aerospace Systems, said the Air Force pilot who ejected from a Thunderbird jet that crashed last week was saved by equipment made by the UTC business.The pilot, Maj. Alex Turner, ejected Thursday in Colorado soon after flying over a crowd watching President Barack Obama's commencement speech at the Air Force Academy.With a backlog of 7,000 jet engines at Pratt, UTC is poised to generate $750 billion in revenue over the next 25 years,

  • kidmadeira by kidmadeira Jun 8, 2016 8:47 AM Flag

    The president of Pratt & Whitney offered an upbeat view Tuesday of the jet engine manufacturer's commercial airline and military business while pushing back against criticism over delivery delays of its next-generation engine.Robert Leduc, echoing comments Monday by Greg Hayes, chief executive officer of parent company United Technologies Corp., told reporters at a media briefing at Pratt & Whitney Stadium in East Hartford that he will not argue with executives at Lufthansa and Qatar airlines who faulted the engine maker for delivery delays.Deutsche Lufthansa Group said in March it will take a second Pratt & Whitney geared turbofan engine, but with conditions. CEO Carsten Spohr said engine issues are improving slowly, but were not completely settled.Qatar Airways' CEO canceled an Airbus order last week over delays.Pratt & Whitney has a backlog of 7,100 geared turbofan engines on order, which will be delivered over the next eight years, Leduc said. Previously, Pratt & Whitney delivered 7,000 engines over 24 years, he said.“Just to give you an idea of the magnitude of what we're trying to do here, we're going to compress that delivery schedule by basically 60 percent,” Leduc said.The rise in production is due to the replacement of previous engines with the geared turbofan engine, which Pratt & Whitney promotes as quieter and more fuel efficient than rival engines. It's also benefiting from strong funding from Congress for the Pentagon's Joint Strike Fighter.To keep up with demand, Pratt & Whitney expects to add employees and invest in production processes.“There's not an element of this company that we're not growing, investing in and preparing for the future,” Leduc said.

  • Reply to

    Patt

    by kidmadeira Jun 8, 2016 8:47 AM
    kidmadeira kidmadeira Jun 8, 2016 3:18 PM Flag

    flyer,.......You are probably aware that the JT-8D was a derivative of the J-52 military engine which powered the A-4 Skyhawk fighter and the Hound Dog missile. It's nice to have the government fund the development of military engines.........Kid

  • Reply to

    Patt

    by kidmadeira Jun 8, 2016 8:47 AM
    kidmadeira kidmadeira Jun 9, 2016 7:38 AM Flag

    lizard,....Pratt had the same problem, a good problem, with the JT-8D. The established vendor base could not keep up with the demand. Pratt took many engineers from the engineering staff and trained them for vendor quality control and validation. These draftees went out all over the country and maybe beyond and established many new qualified vendors. I believe that this program was successful. I can also recall the time Douglas went on strike. Douglas could not accept the JT-8D engines they ordered. Pratt kept building the JT-8D's and parking them on the Middletown test area floor after they were tested. It was a forest of JT-8D's....KId

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