United Technologies Beats Estimates, Raises 2011 Guidance
Apr 20, 2011
United Technologies Corp (NYSE:UTX) reported Q1 2011 EPS of $1.11 today, beating the consensus estimate for $1.07 per share. Revenues for the quarter were up 10.8% to $13.34 billion, higher than the consensus estimate for $12.83 billion.
The company raised its full year 2011 EPS expectation to $5.25 to $5.40, from $5.20 to $5.35 previously, vs. the consensus estimate for a $5.36 per share profit.
Louis Chenevert, UTC Chairman & Chief Executive Officer said, "This was another solid quarter for UTC with broad-based acceleration in organic growth, as well as strong earnings momentum and cash generation. Nearly 20 percent growth in earnings per share reflects excellent conversion, especially as we continued to increase our investments in game changing products and technologies."
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