United Technologies at Morgan Stanley Conference Notes

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Greg Hayes – President & CEO

UTX moves the world’s population every four days on Otis equipment

“The scale of Otis is unprecedented. We move the world’s population every four days on Otis equipment. It’s a big, big number. It’s a huge franchise and it’s had its challenges and we’ll talk about that in just a minute, but I would say unprecedented in our ability to leverage the scale of Otis.’ –United Technologies (Industrial Conglomerate)

Sequestration is still law of the land

“Sequestration is still a law of the land. We’ll see a little pressure next year because the C17 production is ending this year, that’s primarily at Pratt and there is well some uncertainty around the aftermarket, just depending upon what Congress does relative to sequestration.” –United Technologies

China is likely to remain a challenge next year

“China, it’s a challenge. I think next year you could China — business in China could be down 10%. Now that’s a big number, but not in the context of the UTC.” –United Technologies

You’re only as good as your worst supplier

“People always ask what’s the one thing that keeps you up at night, it’s the ramp. The technology, I’m very confident we’ve got that right but you’re only as good as your worst supplier. When you got 8,000 parts in an engine, one of those aren’t there, you’re not building the engine.”