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United Technologies (UTX) Beats on Q3 Earnings

United Technologies Corporation ( UTX ) provides high-end technology products and services to the building systems and aerospace industries worldwide. It has a diversified business mix and wide geographical presence to mitigate operating risk. The business mix and diversification allows the company to remain profitable even during tough economic times, delivering consistent earnings and dividend growth.

As the extent of competition is increasing over time, investors have been eagerly awaiting for the company's latest earnings report. In the last four trailing quarters, UTX has reported a positive average earnings surprise of 7.01%.

Currently, UTX has a Zacks Rank #3 (Hold), but that could definitely change following the company's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings : UTX Beat on earnings. Our consensus called for EPS of $1.54, and the company reported EPS of $1.67.

Revenue : Revenues Missed. UTX posted revenues of $13,788 million, compared to our consensus estimate of $14,593 million.

Key Stats to Note : United Technologies reached an agreement to sell its Sikorsky Aircraft business to Lockheed Martin Corp. (LMT) for $9 billion in cash is subject to regulatory approvals. UTC expects this previously announced sale of its Sikorsky unit to close in the fourth quarter of 2015. Also, the company has authorized a $12 billion share repurchase program, including the $6 billion accelerated share repurchase.

Stock Price : UTX's shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today. Check back our full write up on this UTX earnings report later.

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UTD TECHS CORP (UTX): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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