United Technologies: 4Q Earnings Snapshot
FARMINGTON, Conn. (AP) _ United Technologies Corp. (UTX) on Wednesday reported fourth-quarter net income of $686 million.
On a per-share basis, the Farmington, Connecticut-based company said it had net income of 83 cents. Earnings, adjusted for non-recurring costs, were $1.95 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.
The maker of elevators, jet engines and other products posted revenue of $18.04 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $16.79 billion.
For the year, the company reported profit of $5.27 billion, or $6.50 per share. Revenue was reported as $66.5 billion.
United Technologies expects full-year earnings in the range of $7.70 to $8 per share, with revenue in the range of $75.5 billion to $77 billion.
United Technologies shares have climbed 4.5 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5 percent. The stock has dropped 18 percent in the last 12 months.