What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to affirm United Technologies Corporation's (UTC) previously issued financial guidance for fiscal year 2018 ahead of upcoming investor meetings. It also provides an update on the expected financial impact of the pending acquisition of Rockwell Collins.

How does the pending Rockwell Collins acquisition affect UTC's 2018 EPS guidance?

The company is providing its 2018 Adjusted EPS guidance both excluding and including the impact of the Rockwell Collins acquisition. The guidance of $7.10 to $7.25 for Adjusted EPS excludes Rockwell Collins. The acquisition is expected to result in an Adjusted EPS dilution of $0.10 to $0.15, assuming it closes in the third quarter of 2018.

Are the financial figures provided in the filing GAAP or non-GAAP measures?

The guidance provided for Adjusted EPS, Adjusted EPS dilution, Sales, Organic Sales Growth, and Free Cash Flow are non-GAAP financial measures. The filing includes a section explaining the definitions and rationale for using these non-GAAP measures, stating they are intended to provide investors with additional useful information and facilitate period-to-period comparisons of the company's ongoing operational performance. However, reconciliations to GAAP measures are generally not available without unreasonable effort for forward-looking guidance.

What are the key risks and uncertainties mentioned in the filing regarding future performance?

The filing includes a "Cautionary Statement" that outlines numerous risks and uncertainties that could cause actual results to differ materially from forward-looking statements. These risks include, but are not limited to, economic conditions, challenges in product development, the integration of Rockwell Collins, future indebtedness and capital spending, availability of credit, stock repurchases, supplier issues, cost reduction efforts, legal proceedings, regulatory changes (including trade policies and Brexit), and the successful completion of the Rockwell Collins acquisition.

RTX 8-K: Regulation FD

Summary

United Technologies Corporation (UTC) released an 8-K filing on September 3, 2018, to affirm its full-year 2018 financial guidance in advance of investor meetings. The company reiterated its expectations for adjusted Earnings Per Share (EPS) of $7.10 to $7.25, excluding the impact of the pending Rockwell Collins acquisition. The acquisition is expected to cause an adjusted EPS dilution of $0.10 to $0.15, assuming a third-quarter close. UTC also affirmed its sales forecast of $63.5 to $64.5 billion, with organic sales growth projected between 5% and 6%. Furthermore, the company anticipates free cash flow generation of $4.5 to $5.0 billion. This reaffirmation of guidance provides investors with clarity on the company's expected performance and the financial impact of the significant Rockwell Collins transaction.

Key Highlights

1Reaffirms 2018 Adjusted EPS guidance of $7.10 - $7.25 (excluding Rockwell Collins).
2Projects Adjusted EPS dilution of $0.10 - $0.15 from the pending Rockwell Collins acquisition, contingent on a Q3 close.
3Affirms 2018 Sales forecast of $63.5 - $64.5 billion.
4Maintains 2018 Organic Sales Growth expectation of 5% - 6%.
5Reiterates 2018 Free Cash Flow guidance of $4.5 - $5.0 billion.
6Provides definitions and uses of non-GAAP financial measures, emphasizing their role in providing useful additional information for investors.

RTX Corp 8-K Report, Regulation FD Disclosure (Sep 4, 2018)

Summary

Key Highlights

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