LONDON, UK / ACCESSWIRE / January 26, 2018 / Active-Investors.com has just released a free earnings report on United Technologies Corp. (NYSE: UTX). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=UTX. United Technologies reported its fourth quarter and fiscal 2017 operating and financial results on January 23, 2018. The maker of elevators, jet engines, and other product's sales grew 7% on a y-o-y basis, and provided guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, United Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
United Technologies' sales totaled $15.68 billion, up 7% in Q4 2017 compared to sales of $14.66 billion in Q4 2016, including 5 points of organic sales growth and 2 points of foreign exchange. The Company's reported quarter numbers topped analysts' estimates of $15.4 billion.
For full year 2017, United Technologies' sales of $59.84 billion, up 5% compared to $57.24 billion in FY16, with 4 points of organic sales growth and 1 point of net acquisitions impact.
For Q4 2017, United Technologies' GAAP net income attributable to common shareholders totaled $397 million, or $0.50, compared to $1.01 billion, or $1.26 per diluted share, in Q4 2016. The Company's reported quarter results included $0.90 per share for a charge related to tax law changes and $0.20 per share of net restructuring and other significant items. United Technologies posted adjusted earnings of $1.60 per share, up 3% on a y-o-y basis and came in ahead of Wall Street's estimates of $1.56 per share.
United Technologies' full year 2017 GAAP net income of $4.55 billion, or $5.70 per share, compared to $50.06 billion, or $6.12 per share. The Company's 2017 results included $0.90 for Q4 2017 tax charge and $0.05 per share of net restructuring and other significant items compared to $0.48 in 2016. The Company's adjusted EPS of $6.65 increased 1% on a y-o-y basis.
United Technologies' Segment Results
During Q4 2017, the Otis segment's sales grew 6% to $3.25 billion compared to $3.06 billion in Q4 2016, while its operating profit for the reported quarter came in at $470 million versus $516 million in the year earlier comparable quarter. Otis' new equipment orders increased 1% on a y-o-y basis at constant currency, with solid growth in the US and Europe and continued pricing pressure in China.
For Q4 2017, the UTC Climate, Controls & Security sales were $4.52 billion, up 6% versus $4.25 billion in Q4 2016, and its operating income came in at $636 million in the reported quarter versus $677 million in the year earlier same quarter. Equipment orders at UTC Climate, Controls & Security increased 9% organically.
The Pratt & Whitney division's net sales jumped 12% to $4.46 billion versus $3.99 billion in Q4 2016. The segment's reported quarter operating profit came in at $436 million compared to $409 million in the prior year's corresponding quarter. Commercial aftermarket sales were up 25% at Pratt & Whitney, and up 10% at UTC Aerospace Systems.
During Q4 2017, UTC Aerospace Systems' sales totaled $3.80 billion, up 6% compared to $3.60 billion in Q4 2016, while its operating profit for the reported quarter increased to $599 million versus $578 million in the year earlier same quarter.
United Technologies' full year 2017 cash flow from operations was $5.6 billion and capital expenditures were $2.0 billion.
Outlook for 2018
For FY18, United Technologies is forecasting adjusted EPS in the range of $6.85 to $7.10, total sales of $62.5 to $64.0 billion, including organic sales growth of 4% to 6% and free cash flow in the range of $4.5 billion to $5.0 billion.
Stock Performance Snapshot
January 25, 2018 - At Thursday's closing bell, United Technologies' stock rose 1.53%, ending the trading session at $137.75.
Volume traded for the day: 4.54 million shares, which was above the 3-month average volume of 3.31 million shares.
Stock performance in the last month - up 8.27%; previous three-month period - up 15.04%; past twelve-month period - up 24.14%; and year-to-date - up 7.98%
After yesterday's close, United Technologies' market cap was at $108.96 billion.
Price to Earnings (P/E) ratio was at 21.31.
The stock has a dividend yield of 2.03%.
The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry. This sector was up 0.7% at the end of the session.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.