Join        Login             Stock Quote

United Technologies (UTX) Q1 EPS From Continuing Ops Up 24 Pct, Backs Forecast

 April 24, 2012 07:04 AM

United Technologies Corp. (NYSE:UTX) reported a rise in quarterly earnings from continuing operations and the industrial conglomerate backed its 2012 forecast.

The parent company of Otis elevator, Sikorksy Aircraft posted earnings from continuing operations, including items, of $1.26 billion or $1.31 per share for the first quarter, up from $1.05 billion or $1.06 per share in the year-ago quarter.

Excluding items, EPS grew 2 percent. Wall Street analysts' expected EPS of $1.20.

Sales declined 2 percent to $12.42 billion, versus market expectations of $12.71 billion.

New equipment orders at Otis dropped 9 percent, hurt by the expected slow start to the year in China, UTX noted. North American Residential HVAC new equipment orders at UTC Climate, Controls & Security advanced 10 percent. Commercial spares orders at Pratt & Whitney's large engine business fell 3 percent.

[Related -United Technologies Corporation (NYSE:UTX): How Pension Shift Will Drive EPS?]

Adjusted consolidated segment operating profit margin shrank to 14.6 percent from 14.7 percent.

Looking ahead for the full year, the Hartford, Connecticut-based company still expects EPS in the range of $5.30 to $5.50 on sales between $61 billion and $ 62 billion. Analysts expect EPS of $5.53 on sales of $62.22 billion.

Last month, UTX announced its intent to sell its rocket engine and wind power businesses to help fund its $16.5 billion acquisition of aerospace supplier Goodrich Corp. (NYSE: GR). It expects to raise $3 billion from the sale of Rocketdyne, Clipper Wind and three Hamilton Sundstrand industrial businesses.

[Related -Jobs Growth Tepid At Best]

The stock, which has been trading in the 52-week range between $66.87 and $91.83, ended Monday's regular trading at $79.75.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageIn A World Of Artificial Liquidity – Cash Is King

It's more crucial now than ever for people to consider extracting a portion of cash from their bank read on...

article imageDid The IMF Provide Support To Syriza?

The IMF published yesterday a preliminary analysis on the debt sustainability of the Greek read on...

article image3 Defensive Stocks Offering Safety, Yield In A Turbulent Market

The world can be a scary place to invest these days. Greece can't pay its debts, Russia is a mess, China's read on...

article imageFour Stocks in the Dow Making Fresh 52 Week Lows

“What gets weak tends to get weaker; what gets strong tends to get read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.