United Technologies Corp. Q4 In Line; Outlook Disappoints

United Technologies Corp.

fell in the extended session after the company said a stronger dollar and pension costs would result in lower than expected results for 2015. The Hartford-based diversified manufacturer posted fourth-quarter results in line with expectations but forecast 2015 earnings between $6.85 and $7.05 a share, on sales of $65 billion to $66 billion. Wall Street expects 2015 earnings of $71.9 a share on sales of $67.02 billion. For the recent fourth quarter the company posted profit of $1.47 billion, or $1.62 a share, compared with $1.46 billion, or $1.58 a share in the year-earlier period. Revenue grew to $17 billion from $16.76 billion last year. Wall Street expected fourth-quarter profit of $1.62 a share on revenue of $17.14 billion. New equipment orders at its Otis elevator unit in the recent quarter increased 12 percent over the prior year. Equipment orders at the UTC Climate, Controls & Security unit increased 11 percent. Commercial aftermarket sales were down 6 percent at Pratt & Whitney, and up 5 percent at UTC Aerospace Systems.