April 23, 2019 / 1:03 PM / 3 months ago

UTC expects 737 MAX goundings to impact earnings by up to 10 cents/shr in 2019

April 23 (Reuters) - United Technologies Corp said on Wednesday said it expects an impact of up to 10 cents per share in 2019 from the groundings of Boeing Co's 737 MAX aircraft.

The hit assumes Boeing's production rate of the 737 MAX jets staying at 42 aircraft per month for the rest of the 2019, Chief Financial Officer Akhil Johri said on a conference call with analysts.

"Hopefully, it would be less than that. But that's what the $0.10 made up off," Johri said.

Earlier this month, Boeing cut the production rate on its 737 MAX jets to 42 units per month, from 52 per month. (Reporting by Ankit Ajmera in Bengaluru Editing by Saumyadeb Chakrabarty)

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