United Technologies Earnings: Five Straight Quarters of Double-Digit Growth

S&P 500 (NYSE:SPY) component United Technologies Corporation (NYSE:UTX) reported its results for the second 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 Second Quarter

Results: Net income for United Technologies Corporation rose to $1.32 billion ($1.45 per share) vs. $1.11 billion ($1.20 per share) in the same quarter a year earlier. This marks a rise of 18.7% from the year earlier quarter.

Revenue: Rose 9.2% to $15.08 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: UTX beat the mean analyst estimate of $1.41 per share. It beat the average revenue estimate of $14.7 billion.

Quoting Management: “For the first time since the second quarter of 2008, all six of our business segments reported organic sales growth in the quarter,” said Louis Chenevert, UTC Chairman& Chief Executive Officer. “More encouragingly, order rates remain strong and in line with expectations across most of the segments including our longer cycle commercial construction related businesses.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 16.9% and in the fourth quarter of the last fiscal year, the figure rose 11.7%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 7 cents in the first quarter, by 5 cents in the fourth quarter of the last fiscal year, and by 11 cents in the third quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 10.8% to $13.34 billion in the first quarter. The figure rose 6.3% in the fourth quarter of the last fiscal year from the year earlier and climbed 3.3% in the third quarter of the last fiscal year from the year-ago quarter.

Gross margins grew 0.2 percentage point to 27.7%. The growth seemed to be driven by increased revenue, as the figure rose 9.2% from the year earlier quarter while costs rose 8.9%.

Competitors to Watch: Honeywell Intl. Inc. (NYSE:HON), General Electric Company (NYSE:GE), The Boeing Company (NYSE:BA), Goodrich Corporation (NYSE:GR), Northrop Grumman Corp. (NYSE:NOC), Triumph Group, Inc. (NYSE:TGI), Esterline Tech. Corp. (NYSE:ESL), Textron Inc. (NYSE:TXT), Rolls-Royce Group plc (RYCEY), and Zardoya Otis SA (ZOT).

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(Source: Xignite Financials)

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