(Reuters) -A weeks’ long strike by 3,000 U.S. Pratt & Whitney engine workers will impact free cash flow during the second quarter, but the aerospace and defense giant should be able to recover that during the year, RTX CEO Chris Calio said on Wednesday.
“There will be cash impact here in the second quarter,” Calio told the Bernstein Strategic Decisions Conference.
Calio said the four-week stoppage at Pratt’s unionized Connecticut factories impacted its ability to ship jet engines, and he expects break even to negative cash flow in the quarter. RTX shares dipped 2% in morning trade.
(Reporting By Allison Lampert, Editing by Nick Zieminski)
