United Technologies (UTX) Tops Q2 EPS by 7c; Raises Low End of EPS Outlook

United Technologies (NYSE: UTX) reported Q2 EPS of $1.85, $0.07 better than the analyst estimate of $1.78. Revenue for the quarter came in at $15.2 billion versus the consensus estimate of $15.24 billion.

GUIDANCE:

United Technologies sees FY2017 EPS of $6.45-$6.60, versus the consensus of $6.59. United Technologies sees FY2017 revenue of $58.5-59.5 billion, versus the consensus of $59.1 billion.

"United Technologies delivered another quarter of strong results with sales up 3 percent including 3 percent organic sales growth and robust cash flow," said UTC Chairman and Chief Executive Officer Gregory Hayes. "Our performance is in-line with our expectations as we continue to execute on our strategic priorities, including growing the business through our investments in innovative products and services, delivering on our aerospace backlog, and achieving our cost reduction goals, while maintaining a disciplined approach to capital allocation."

"Based on our solid year-to-date performance and outlook for the remainder of 2017, we are raising the low end of our full-year adjusted EPS outlook range by 15 cents. We now expect adjusted EPS of $6.45 to $6.60.* Additionally, we are raising our sales outlook to a range of $58.5 to $59.5 billion. This reflects organic growth expectations of 3 to 4 percent versus our prior expectation of 2 to 4 percent.* We remain confident that our portfolio of global industry leading franchises is well positioned and will continue to create long-term sustainable shareowner value."

For earnings history and earnings-related data on United Technologies (UTX) click here.

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