UTC Announces 2017 EPS And Sales Expectations

FARMINGTON, Conn., Dec. 14, 2016 /PRNewswire/ -- In a conference call with investors and analysts today, United Technologies Corp. UTX Chairman and Chief Executive Officer Gregory Hayes will communicate the company's expectation for 2017 adjusted earnings per share* of $6.30 to $6.60. Sales for 2017 are expected to be $57.5 billion to $59 billion, with organic sales growth of 2 to 4 percent. 

UTC also reaffirms 2016 adjusted EPS expectations* of $6.55 to $6.60 and sales of $57 to $58 billion, with both reported and organic year over year sales growth of 2 to 3 percent.

"We are on track to deliver 2016 results toward the higher end of the EPS range we provided last December. In 2017, we expect an increase in organic sales growth and solid cash generation, despite a slow growth macro-environment and continued investments in the aerospace ramp-up," said UTC Chairman and Chief Executive Officer Gregory Hayes.

"We remain confident in our 2020 outlook of mid to high single-digit organic sales growth. The investments we continue to make in our strong portfolio of industry leading businesses position UTC to deliver sustainable value for our shareholders and customers well into the future," Hayes continued.

Today's United Technologies presentation to investors and analysts will be broadcast live on the Internet with the audio and presentation materials available at www.utc.com or http://edge.media-server.com/m/p/j8h7pvfb, or to listen to the earnings call by phone, dial (877) 280-7280 between 5:10 p.m. and 5:30 p.m. ET. The webcast begins at 5:30 p.m. and an audio recording of the presentation will be archived on the site afterward. 

United Technologies Corp., based in Farmington, Connecticut, provides high technology systems and services to the building and aerospace industries. By combining a passion for science with precision engineering, the company is creating smart, sustainable solutions the world needs.  To learn more about UTC, visit the website or follow the company on Twitter: @UTC

*Note: When we provide expectations for adjusted EPS and organic sales on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures generally is not available without unreasonable effort.  See "Use and Definitions of Non-GAAP Financial Measures" in the presentation associated with this release, which can be found at utc.com.

Cautionary Statement

This press release contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. From time to time, oral or written forward-looking statements may also be included in other information released to the public. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "confident" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases and other measures of financial performance or potential future plans, strategies or transactions. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) future levels of indebtedness and capital spending and research and development spending; (4) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (5) delays and disruption in delivery of materials and services from suppliers; (6) customer- and Company- directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (7) the scope, nature, impact or timing of acquisition and divestiture activity, including among other things integration of acquired businesses into our existing businesses and realization of synergies and opportunities for growth and innovation; (8) new business opportunities; (9) our ability to realize the intended benefits of organizational changes; (10) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (11) the timing and scope of future repurchases of our common stock, which may be suspended at any time due to market conditions and the level of other investing activities and uses of cash; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which we operate, including, but not limited to the effect of changes in U.S. trade policies or the U.K's pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) and the effect of changes in tax, environmental, regulatory (including among other things import/export) and other laws and regulations in the U.S. and other countries in which we operate.  For additional information identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see our reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC from time to time. Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

UTC-IR          

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SOURCE United Technologies Corp.