United Technologies Corporation provides high-end technology products and services to the building systems and aerospace industries worldwide. It has a diversified business mix and wide geographical presence to mitigate operating risk. The business mix and diversification allows the company to remain profitable even during tough economic times, delivering consistent earnings and dividend growth.
As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report. UTX has a stellar earnings surprise history, comprehensively beating estimates in the last four trailing quarters with an average earnings surprise of 5.34%.
Currently, UTX has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: UTX beats on earnings. The Zacks Consensus Estimate called for EPS of $1.65, and the company reported adjusted EPS of $1.82.
Revenue: Revenues beat. UTX posted net sales of $14,874 million, compared to Zacks Consensus Estimate of $14,634 million.
Key Stats to Note: UTX remains on track with its growth targets for 2020. Based on its solid second quarter performance, UTX revised its earlier adjusted earnings guidance for 2016 to $6.45 to $6.60 per share, up from $6.30 to $6.60, on sales of $57 to $58 billion, up from $56 billion to $58 billion expected earlier.
Stock Price: UTX’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back our full write up on this UTX earnings report later!
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United Technologies Beats Q2 Earnings, Revises Outlook
United Technologies Corporation provides high-end technology products and services to the building systems and aerospace industries worldwide. It has a diversified business mix and wide geographical presence to mitigate operating risk. The business mix and diversification allows the company to remain profitable even during tough economic times, delivering consistent earnings and dividend growth.
As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report. UTX has a stellar earnings surprise history, comprehensively beating estimates in the last four trailing quarters with an average earnings surprise of 5.34%.
Currently, UTX has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: UTX beats on earnings. The Zacks Consensus Estimate called for EPS of $1.65, and the company reported adjusted EPS of $1.82.
UTX TECHS CORP Price and EPS Surprise
UTX TECHS CORP Price and EPS Surprise | UTX TECHS CORP Quote
Revenue: Revenues beat. UTX posted net sales of $14,874 million, compared to Zacks Consensus Estimate of $14,634 million.
Key Stats to Note: UTX remains on track with its growth targets for 2020. Based on its solid second quarter performance, UTX revised its earlier adjusted earnings guidance for 2016 to $6.45 to $6.60 per share, up from $6.30 to $6.60, on sales of $57 to $58 billion, up from $56 billion to $58 billion expected earlier.
Stock Price: UTX’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back our full write up on this UTX earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>