Summary Box: United Technologies’ 1st-quarter net income jumps 20 percent as revenue slips
By APWednesday, April 21, 2010
Summary Box: United Tech 1Q profit up 20 percent
THE NUMBERS: United Technologies Corp.’s first-quarter profit jumped 20 percent to $866 million, or 93 cents per share, as revenue slipped 1 percent to $12.1 billion. It also raised the lower end of its 2010 earnings per share guidance to $4.50 from $4.40. It now expects 2010 earnings to be between $4.50 per share to $4.65 per share.
THE STREET: The results exceeded analysts’ earnings expectations of 90 cents per share but missed revenue estimates of 12.26 billion.
WHAT’S AHEAD: United Technologies said it sees improvements in order trends, particularly in emerging markets. As a result, CEO Louis Chenevert says he expects growth will resume in the second half of the year.
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