logo
  Join        Login             Stock Quote

United Technologies (UTX) Q4 Earnings Fall, Backs Forecast

 January 23, 2013 07:16 AM
 


(By Balachander) United Technologies Corp. (NYSE: UTX) reported a drop in quarterly earnings from continuing operations as costs increased and the industrial conglomerate backed its 2013 forecast.

The parent company of Otis elevator, Sikorksy Aircraft posted earnings from continuing operations, including items, of $1.04 billion or $1.04 per share for the fourth quarter, down from $1.37 billion or $1.42 per share in the year-ago quarter.

Excluding items, EPS fell 9 percent. Wall Street analysts', on average, expected EPS of $1.03.

Sales increased 14.4 percent to $16.44 billion, versus market expectations of $16.62 billion.

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

New equipment orders at Otis rose 12 percent, North American Residential HVAC new equipment orders at UTC Climate, Controls & Security jumped 20 percent. Commercial spares orders at Pratt & Whitney's large engine business climbed 46 percent.

Adjusted consolidated segment operating profit margin shrank 200 basis points to 13.3 percent due to the impact of the purchase of Goodrich Corp. and the Canadian Maritime Helicopter program charge at Sikorsky. 

Total costs and expenses increased nearly 18 percent.

Looking ahead for the full year 2013, the Hartford, Connecticut-based company still expects EPS in the range of $5.85 to $6.15, while analysts expect $6.04. United Technologies continues to expect sales of $64 billion to $65 billion, surrounding consensus estimates.

[Related -Jobs Growth Tepid At Best]

The stock, which has been trading in the 52-week range between $70.71 and $87.50, ended Tuesday's regular trading at $87.47.

iOnTheMarket Premium
Advertisement

Advertisement


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

rss feed

Latest Stories

article imageInitial Jobless Claims Rose Unexpectedly

Claims unexpectedly rose in the latest report through last weekend to breach 300,000 for the first time read on...

article imageAll Quiet on the Record High Front

What can we glean from the media’s lack of attention to the market’s recent record read on...

article imageThe Chip Maker Short Sellers Should Be Watching

Investing in semiconductor stocks is always tricky. Industry cycles can lead to bumps in the road for the read on...

article imageChicago Fed: US Economic Growth Slowed In October

The pace of US growth slowed more than expected in October, according to this morning’s update of the read on...

Advertisement
Popular Articles

Advertisement
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.