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United Technologies CEO sees federal budget cuts March 1 with impact on parts, repair business

Canadian Press, The Canadian Press
0 Comments| February 21, 2013


HARTFORD, Conn. - The chief executive of United Technologies expects automatic federal budget cuts will take effect in eight days, cutting slightly into earnings of the aerospace giant.

CEO Louis Chenevert (shen-eh-VAIR) told investor analysts Thursday that the cuts, which are known in Washington as the "sequester," look more likely. He says earnings would be reduced by 10 cents per share in the "worst case."

© The Canadian Press, 2013


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