United Tech (UTX) Slumps as Mixed Results Can't Offset Flat Outlook
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Price: $86.01 --0%
Financial Fact:
Cost of products sold: 7.52B
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Cost of products sold: 7.52B
Today's EPS Names:
BTTX, VAXX, ELYS, More
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United Technologies (NYSE: UTX) shares are trading lower Wednesday following mixed fourth-quarter results and an affirmed outlook for 2012.
Revenue for the diversified high tech giant rose just 0.7 percent to $14.966 billion, missing views calling for revs of $15.07 billion.
Net income jumped 10.5 percent to $1.33 billion, or $1.47 per diluted share. The number edged-out Street expectations of $1.46 per share. Foreign currency translation net of currency impact at Pratt & Whitney Canada did not have an impact on earnings per share.
Otis new equipment orders rose 2 percent, Commercial HVAC grew orders 5 percent, Commercial spares orders at Hamilton Sundstrand were up 17 percent and at Pratt & Whitney's large engine, business declined 16 percent.
Operating margins rose 20 basis points to 15.4 percent, after adjustments.
"United Tech closed a solid 2011 despite tough compares in the commercial aerospace aftermarket and shorter cycle Carrier businesses and significant research and development investment in the quarter," said CEO Louis Chenevert. "For the year, all business units grew organically and achieved double digit operating margins."
Looking ahead, the company reaffirmed 2012 earnings expectations of $5.80 to 6.00 per share.
United Tech is 2.3 percent lower early.
Revenue for the diversified high tech giant rose just 0.7 percent to $14.966 billion, missing views calling for revs of $15.07 billion.
Net income jumped 10.5 percent to $1.33 billion, or $1.47 per diluted share. The number edged-out Street expectations of $1.46 per share. Foreign currency translation net of currency impact at Pratt & Whitney Canada did not have an impact on earnings per share.
Otis new equipment orders rose 2 percent, Commercial HVAC grew orders 5 percent, Commercial spares orders at Hamilton Sundstrand were up 17 percent and at Pratt & Whitney's large engine, business declined 16 percent.
Operating margins rose 20 basis points to 15.4 percent, after adjustments.
"United Tech closed a solid 2011 despite tough compares in the commercial aerospace aftermarket and shorter cycle Carrier businesses and significant research and development investment in the quarter," said CEO Louis Chenevert. "For the year, all business units grew organically and achieved double digit operating margins."
Looking ahead, the company reaffirmed 2012 earnings expectations of $5.80 to 6.00 per share.
United Tech is 2.3 percent lower early.
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