United Technologies posted fourth-quarter earnings that surpassed analysts’ expectations.
The conglomerate, which specializes in aircraft engines and aerospace systems, reported adjusted earnings of $1.94 a share in the fourth quarter, beating analysts’ estimate of $1.84.
Sales increased +8% from a year earlier to $19.6 billion, and slightly above the Street estimate of $19.4 billion.
Looking ahead, United Technologies projects sales to decelerate into the “low single digits” compared to 2019. The suspension of 737 MAX production is expected to cause headwind of $550 million to $600 million.
By the end of next month, EU antitrust enforcers will rule on $121 billion proposed merger between United Technologies and U.S. contractor Raytheon.
an industrial conglomerate which manufactures engine parts, elevators, and air-conditioning equipment
Industry IndustrialConglomerates