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United Technologies: 2Q Earnings Snapshot

By The Associated Press | July 24, 2018 | Reprints | Unlock Link | Print

United Technologies Corp. on Tuesday reported second-quarter net income of $2.05 billion.

The Farmington-based company said it had profit of $2.56 per share. Earnings, adjusted for non-recurring gains, came to $1.97 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.

The maker of elevators, jet engines and other products posted revenue of $16.7 billion in the period, which also topped forecasts. Four analysts surveyed by Zacks expected $16.26 billion.

United Technologies expects full-year earnings in the range of $7.10 to $7.25 per share, with revenue in the range of $63.5 billion to $64.5 billion.

United Technologies shares have climbed slightly more than 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5 percent. The stock has climbed roughly 5 percent in the last 12 months.