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Sergey Savastiouk's Avatar
published in Blogs
Jan 28, 2020
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United Technologies ( UTX, $152.30) beats Q4 earnings; expects 737MAX headwind to affect full-year results

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.

 

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an industrial conglomerate which manufactures engine parts, elevators, and air-conditioning equipment

Industry IndustrialConglomerates

Profile
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Industry
Industrial Conglomerates
Address
10 Farm Springs Road
Phone
+1.860.728.7000
Employees
243200
Web
http://www.utc.com
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