United Technologies UTX reported fourth-quarter earnings of $1.94 per share on Tuesday, which beat the analyst consensus estimate of $1.84 by 5.43%. This is a 0.51% decrease over earnings of $1.95 per share from the same period last year.
The company reported quarterly sales of $19.6 billion, which beat the analyst consensus estimate of $19.37 billion by 1.19%. This is a 8.62% increase over sales of $18.044 billion the same period last year.
"Operational separation activities for Otis and Carrier are substantially complete, and we are executing the final steps required to spin both businesses as independent companies early in the second quarter," said UTC Chairman and Chief Executive Officer Gregory Hayes. "We also remain excited about the transformational merger of UTC's aerospace businesses with Raytheon to create Raytheon Technologies, which will be the premier aerospace and defense systems and services provider. Our goal is to have the merger ready to close concurrent with the portfolio separation."
United Technologies shares were trading down 1.34% at $149 in Tuesday’s pre-market session. The stock has a 52-week high of $155.53 and a 52-week low of $113.77.
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