United Technologies Earnings: Everything You Must Know Now

United Technologies Corp. (NYSE:UTX) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.01%.

United Technologies Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 1.85% to $1.65 in the quarter versus EPS of $1.62 in the year-earlier quarter.

Revenue: Rose 15.93% to $16.01 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: United Technologies Corp. reported adjusted EPS income of $1.65 per share. By that measure, the company beat the mean analyst estimate of $1.57. It missed the average revenue estimate of $16.37 billion.

Quoting Management: “We had a solid first half of the year and continued to deliver,” said Louis Chenevert, UTC Chairman & Chief Executive Officer. “Strong execution, additional restructuring savings, and growing backlogs give us confidence to increase the lower end of our earnings per share range. We now expect earnings per share of $6.00 to $6.15, growth of 12 to 15 percent, up from $5.85 to $6.15 previously.”

Key Stats (on next page)…

Revenue increased 11.16% from $14.4 billion in the previous quarter. EPS increased 18.71% from $1.39 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.56 to a profit $1.55. For the current year, the average estimate is a profit of $6.11, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)