United Technologies: 2Q Earnings Snapshot
FARMINGTON, Conn. (AP) _ United Technologies Corp. (UTX) on Tuesday reported second-quarter net income of $2.05 billion.
The Farmington, Connecticut-based company said it had profit of $2.56 per share. Earnings, adjusted for non-recurring gains, came to $1.97 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.
The maker of elevators, jet engines and other products posted revenue of $16.7 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $16.26 billion.
United Technologies expects full-year earnings in the range of $7.10 to $7.25 per share, with revenue in the range of $63.5 billion to $64.5 billion.
United Technologies shares have climbed slightly more than 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5 percent. The stock has climbed roughly 5 percent in the last 12 months.