UTC Sees Better Second Quarter, But Sikorsky Lags | Aviation International News

UTC Sees Better Second Quarter, But Sikorsky Lags

Despite a dip in sales and operating profits at its Sikorsky helicopter subsidiary, United Technologies reported improvements in its second-quarter earnings. (Photo: Sikorsky Aircraft)

By AIN Staff • AIN Staff

July 23, 2013

While Sikorsky Aircraft’s parent company, United Technologies (UTC), reported improvement in its second-quarter earnings compared with last year, the helicopter manufacturer itself experienced a decrease of 3 percent in sales, a 24-percent decrease in operating profit and a drop in return on sales of 2.8 basis points. In a webcast today, Greg Hays, CFO of UTC, attributed the decreases partly to weak military aftermarket sales, which he said were down 25 percent, and the fact that sequestration is making it harder to process orders for spares. Lower demand is also a factor, as “Sikorsky was a beneficiary of the Afghanistan campaign,” he said.

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