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:
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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:
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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.
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