United Technologies Earnings: Dow 30 Monster Up Huge

S&P 500 (NYSE:SPY) component United Technologies Corporation (NYSE:UTX) reported its results for the first quarter. United Technologies provides high technology products and services to the building systems and aerospace industries worldwide.

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United Technologies Earnings Cheat Sheet for the First Quarter

Results: Net income for United Technologies Corporation rose to $1.1 billion ($1.11/share) vs. $866 million (93 cents/share) YoY. A rise of 27.1% from the year earlier quarter.

Revenue: Rose 10.8% to $13.34 billion YoY.

Actual vs. Wall St. Expectations: UTX beat the mean analyst estimate of $1.07/share. Estimates ranged from $1.04 per share to $1.16 per share.

Quoting Management: “This was another solid quarter for UTC with broad-based acceleration in organic growth, as well as strong earnings momentum and cash generation,” said Louis Chênevert, UTC Chairman & Chief Executive Officer. “Nearly 20 percent growth in earnings per share reflects excellent conversion, especially as we continued to increase our investments in game changing products and technologies.”

Key Stats:

The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 11.7% and in the third quarter of the last fiscal year, the figure rose 13.2%.

Over the last five quarters, revenue has increased 5% on average year over year. The biggest increase came in the most recent quarter, when revenue rose 10.8% from the year earlier quarter.

Competitors to Watch: Boeing Co. (NYSE:BA), General Electric Co. (NYSE:GE), Honeywell International Inc. (NYSE:HON), Northrop Grumman Corporation (NYSE:NOC), and Goodrich Corporation (NYSE:GR).

Today’s Performance: Shares of UTX are trading up over 4%.

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