United Technologies (UTX) Q4 Earnings Beat, 2018 View Solid
Zacks Investment Research | Jan 23, 2018 11:31PM ET
United Technologies Corporation (NYSE:UTX) reported healthy fourth-quarter 2017 results driven by significant organic growth and diligent execution of operational plans. GAAP earnings from continuing operations for the reported quarter were $397 million or 50 cents per share compared with $1,013 million or $1.25 per share in the year-earlier quarter. Excluding restructuring and other non-recurring items, adjusted earnings for the reported quarter were $1.60 per share, which beat the Zacks Consensus Estimate of $1.56. The company reported adjusted earnings of $6.65 for the year ended Dec 31, 2017. GAAP earnings for full-year 2017 were $5.70 per share compared with $6.12 per share of the prior-year quarter.
Net sales in the reported quarter came in at $15,680 million compared with $14,659 million in the year-ago quarter. Quarterly sales exceeded the Zacks Consensus Estimate of $15,400 million. The top-line increase was primarily attributable to organic growth of 5% — the highest since 2014. Growth in revenues across all segments of the company helped drive total revenues. An increase in demand for the company’s products by the commercial aviation industry and an increase in spending by the U.S. defense industry have helped augment revenues for the company. The strong aftermarket business, which sells spare parts and offers related services to keep the primary products running, has also benefited results.
For 2017, the company reported total revenues of $59,837 million compared with $57,244 million in the previous year.
United Technologies Corporation Price, Consensus and EPS Surprise
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