United Technologies: 2Q Earnings Snapshot
FARMINGTON, Conn. (AP) — United Technologies Corp. (UTX) on Tuesday reported second-quarter profit of $1.9 billion.
The Farmington, Connecticut-based company said it had net income of $2.20 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.04 per share.
The maker of elevators, jet engines and other products posted revenue of $19.63 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $19.46 billion.
United Technologies expects full-year earnings in the range of $7.90 to $8.05 per share, with revenue in the range of $75.5 billion to $77 billion.
United Technologies shares have increased 25% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 19%. The stock has climbed 2% in the last 12 months.