United Tech (UTX) Affirms FY11 Outlook, Guides FY12In-Line with Views

During a meeting with investors and analysts, United Technologies Corp. (NYSE: UTX) Chairman & Chief Executive Officer Louis Chenevert today reaffirmed the company's expectation for 2011 earnings per share of $5.47 on sales of approximately $58 billion. For UTC's base business excluding the impact of the previously announced agreement to acquire Goodrich Corp., Chenevert also projected 2012 earnings per share of $5.80 to $6.00, up 6 to 10 percent. The Street sees $5.90. Including $0.40 of dilution related to the Goodrich acquisition and an additional $0.10 of headwind from the absence of share repurchase, 2012 earnings per share are expected to be in the range of $5.30 to $5.50. The Goodrich acquisition is expected to close in mid 2012.

Excluding the pending Goodrich acquisition, sales for 2012 are expected to be $59 to $60 billion, including 2 to 4 percent organic growth. The Street sees $62.1 billion. The company continues to anticipate cash flow from operations less capital expenditures will exceed net income attributable to common shareowners in 2011 and anticipates it will be equal to or in excess of net income attributable to common shareowners in 2012.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Integer Holdings Corp (ITGR) Tops Q1 EPS by 2c ; Offers Guidance
• West Bancorporation (WTBA) Tops Q1 EPS by 8c
• Independent Bank (IBCP) Tops Q1 EPS by 12c