United Technologies Q4 EPS USD1.58, vs. USD1.53 estimate

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Investing.com - U.S. multinational conglomerate United Technologies reported better-than-expected fourth quarter earnings ahead of Wednesday's opening bell, despite missing slightly on revenue figures.

Earlier in the day, in its fourth quarter earnings report, United Technologies said earnings per share came in at USD1.58, beating expectations for earnings of USD1.53 per share. The company's fourth quarter revenue totaled USD16.8 billion, below expectations for revenue of USD17.09 billion.

"UTC closed a strong 2013 with 16 percent earnings growth despite slower than expected recovery in our end markets," said Louis Chenevert, UTC Chairman&Chief Executive Officer.

"We saw an acceleration of organic growth throughout the year," added Chenevert. "Fourth quarter organic sales growth of 4 percent combined with continued orders strength gives us good momentum as we enter 2014."

Immediately after the earnings announcement, UTX shares rose 0.4% in trading prior to the opening bell.

Meanwhile, the outlook for U.S. equity markets was subdued. The Dow Jones Industrial Average futures indicated a loss of 0.2% at the open, S&P 500 futures pointed to a loss of 0.05%, while Nasdaq 100 futures were little changed ahead of the open.

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