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RAYTHEON TECHNOLOGIES CORPORATION

(RTX)
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Delayed Nyse  -  04:00 2022-12-08 pm EST
99.49 USD   +0.45%
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United Technologies Corporation : Embraer Selects Pratt & Whitney PurePower(R) Geared Turbofan(TM) Engine as Exclusive Power for Second Generation of E-Jets

01/08/2013 | 06:26pm EST

January 8, 2013

Embraer Selects Pratt & Whitney PurePower(R) Geared Turbofan(TM) Engine as Exclusive Power for Second Generation of E-Jets

EAST HARTFORD, Conn. - Embraer today announced it has selected Pratt & Whitney's PurePower Geared Turbofan™ engine as the exclusive power for its new second generation of the E-Jet aircraft family. Pratt & Whitney is a division of United Technologies Corp. (NYSE: UTX).

Planned to enter service in 2018, the Embraer E-Jets equipped with PurePower PW1700G and PW1900G engines will offer significant reductions in fuel burn, emissions, noise and operating costs compared to today's aircraft. With this announcement, Embraer becomes the fifth aircraft manufacturer to select Pratt & Whitney's PurePower engine.

"Pratt & Whitney's PurePower engines allow us to offer our customers the very best technology and lowest operating costs," said Embraer President & CEO Frederico Fleury Curado. "Pratt & Whitney's extensive engine testing and validation process has positioned them to meet our economic and environmental improvement targets as well as the program timeline for the new generation of the E-Jet aircraft family."

"The Geared Turbofan has proven to be truly innovative by setting new standards for fuel burn, emissions and noise reduction," said Pratt & Whitney President David Hess. "Embraer's selection of the PurePower engine is another significant endorsement of this game-changing technology."

"We are proud that Embraer has recognized the unmatched value of the PurePower engine, and we are committed to supporting a successful launch of the new E-Jet aircraft family," Hess continued. "To date, Pratt & Whitney has completed nearly 4,200 hours and more than 12,400 cycles of full engine testing for the PurePower engine family, demonstrating the benefits and reliability of the engine architecture."

Pratt & Whitney's PurePower engine uses an advanced gear system allowing the engine's fan to operate at a different speed than the low-pressure compressor and turbine. The combination of the gear system and an all-new advanced core delivers double-digit improvements in fuel efficiency and environmental emissions as well as a 50 percent reduction in noise.

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and building industries.

This release includes "forward looking statements" concerning anticipated business opportunities that are subject to risks and uncertainties, including with regard to the programs described in this release. Important factors that could cause actual results to differ materially from those anticipated or implied in forward looking statements include the impact of deterioration or extended weakness in global economic conditions on demand for our products and services, the financial strength of customers and suppliers and on levels of air travel; and challenges in the design, development, production and support of advanced technologies and new products and services. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC's 10-K, 10-Q and other reports filed with the SEC.

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Financials (USD)
Sales 2022 67 186 M - -
Net income 2022 5 546 M - -
Net Debt 2022 26 070 M - -
P/E ratio 2022 27,3x
Yield 2022 2,16%
Capitalization 146 B 146 B -
EV / Sales 2022 2,57x
EV / Sales 2023 2,38x
Nbr of Employees 174 000
Free-Float 87,2%
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Number of Analysts 23
Last Close Price 99,49 $
Average target price 104,51 $
Spread / Average Target 5,04%
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Managers and Directors
Gregory J. Hayes Chairman, President & Chief Executive Officer
Neil G. Mitchill Chief Financial Officer
Mark E. Russell Head-Technology & Global Engineering
Christopher T. Calio Chief Operating Officer
Robin Diamonte Chief Investment Officer
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