In a meeting with investors and analysts today, United Technologies Corp. (NYSE: UTX) President and Chief Executive Officer Gregory Hayes will communicate the company's expectation for 2015 adjusted earnings per share (Adjusted EPS*) of $6.20 to $6.30, raising the lower end of the previous range by $0.05. In the current quarter, the company expects to record a $3.3 billion after-tax gain on the Sikorsky divestiture.

UTC anticipates 2016 adjusted earnings per share of $6.30 to $6.60. Sales for 2016 are expected to be $56 billion to $58 billion, with organic growth of 1 to 3 percent.

*** The Street sees FY16 EPS of $6.57 and revenue of 58.6 billion.

"I'm proud to say that over the past few weeks, we have closed the $9 billion Sikorsky sale and launched an accelerated share repurchase program to return another $6 billion to our shareholders. We are now well positioned to deliver results toward the higher end of our previously announced expected EPS range for 2015," Hayes said.

The company will announce a $1.5 billion multi-year restructuring plan focused on structural cost reductions in high-cost locations, which is expected to result in $900 million of annualized run-rate savings when completed. Actions under this plan are expected to be implemented through 2018. Restructuring charges in 2015 are now expected to be approximately $400 million, up from the prior expectation of $300 million.

"Our consistent focus on productivity over the years has resulted in a lean SG&A cost base relative to industry peers. This next phase of restructuring will principally focus on further structural cost reductions across the manufacturing base, particularly through footprint consolidation," Hayes said.

"Going forward, we will discuss earnings per share expectations on an adjusted basis that excludes the impact of restructuring and other significant non-operational items," Hayes added. "Continuing to take cost out as restructuring opportunities arise is important for UTC to remain competitive and is the right thing to do for the shareholders."