United Technologies Reports First Quarter Financial Results | Financial Buzz

United Technologies Reports First Quarter Financial Results

United Technologies Corp. (NYSE: UTX) reported Q1 2019 Financial results and earnings per share outlook for the remainder of 2019.  Organic sales continue to grow in all four business units.  Recent acquisition of Rockwell Collins has exceeded expectations.

“United Technologies is off to a strong start in 2019,” said UTC Chairman and Chief Executive Officer Gregory Hayes. “Sales were up 20 percent with all four businesses contributing to the robust 8 percent organic growth in the quarter. Earnings and cash flow exceeded our expectations for the quarter reinforcing our confidence in the full year financial outlook, including our improved adjusted EPS range of $7.80 to $8.00.”

Hayes continued, “We made significant progress this quarter on the integration of Rockwell Collins and saw excellent performance from the combined Collins Aerospace business. Preparations for our portfolio separation are progressing well, and we remain on track to establish Otis and Carrier as independent companies in the first half of 2020.”      

Sales of the first quarter reached USD 18.4 Billion, a 20% increase compared to the same period a year prior.  Net income accrued up to USD 1.3 Billion, a 4% increase compared to a year ago. 

Adjusted EPS for 2019 is anticipated at USD 7.80 to USD 8.00, an increase from USD 7.70 to USD 8.00.