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United Technologies Trades Higher On Q2 Earnings Beat

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United Technologies (NYSE: UTX) reported second-quarter earnings of $2.20 per share, which beat the analyst consensus estimate of $2.04 by 7.84 percent. This is a 11.68 percent increase over earnings of $1.97 per share from the same period last year.

The company reported quarterly sales of $19.6 billion, which beat the analyst consensus estimate of $19.55 billion by 0.26%. This is a 17.33% increase over sales of $16.705 billion the same period last year.

"United Technologies delivered strong second quarter results," said United Technologies CEO Gregory Hayes. "Based on a solid first half, we feel confident raising our outlook for the full year with an improved organic sales growth outlook of 4 to 5% and adjusted EPS range of $7.90 to $8.05. We continued to see outperformance at Collins Aerospace this quarter as we made significant progress on the integration of Rockwell Collins, which more than offset softness in Carrier's end markets."

United Technologies shares were trading up 2.6% at $136.50 in Tuesday’s pre-market session. The stock has a 52-week high of $144.40 and a 52-week low of $100.48.

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Posted-In: Earnings News

 

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