United Technologies Corp. CEO Louis Chenevert said Tuesday that rising commodity prices and supply chain disruptions in Japan are causing some concerns, but orders are rising and the weak dollar is boosting the conglomerate’s exports, The Associated Press reports.
Chenevert, who runs the parent company of Sikorsky Aircraft, Otis elevator and other businesses, said at an investor analyst conference Tuesday that higher gas prices and inflation worries will likely crimp consumer spending.
It’s also expected to affect subsidiary Carrier’s air conditioning sales and airline customers of aviation subsidiaries Pratt & Whitney and Hamilton Sundstrand.
However, he said the problems, which include supply interruptions in Japan following the March 11 earthquake and tsunami, are “well manageable within the UTC scope.”
UTC raised its 2011 profit guidance last month to between $5.25 and $5.40 per share from $5.20 to $5.35 per share. Chenevert backed the guidance, saying he’s “highly confident” in the outlook.
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