Aundrea:
The ratings for UTC also incorporate the company's product and geographic diversification, relatively stable operating performance through economic cycles, and technological capabilities that support strong competitive positions.
Elane:
The impact could be offset over the long term by additional sales volume and increased high-margin aftermarket business, which represents approximately 60% of segment revenue.
Mable:
UTC has indicated it intends to rebuild market share in these regions and would consider slightly lower margins in order to increase its competitiveness.
Bettye:
Otis generates the highest profit margins among UTC's business segments, but the unit has lost market share in China and Europe.
Asley:
UTC will continue to benefit from significant global scale and a good balance between aerospace and commercial businesses.
Chung:
UTC will lose some diversification, but the divestiture will reduce platform development risks.
Iluminada:
Fitch views the divestiture, before considering UTC's cash deployment plans, as neutral to the ratings.
Maryrose:
FCF includes the impact of pension contributions.
Quinn:
However, the impact will be offset by negative margins in the aerospace businesses associated with Pratt & Whitney's GTF engine and new programs at the UTC Aerospace Systems segment.
Lorenza:
Capital spending is likely to be elevated to support UTC's aerospace programs but should decline slightly as UTC moves past the peak development cycle.
United Technologies Corp. (NYSE:UTX)
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