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United Technologies Bumps Up Forecast

HARTFORD, Connecticut ( TheStreet) -- United Technologies (UTX - Get Report), the industrial giant, said Wednesday it was raising its full-year forecast as second-quarter earnings rose because of organic sales growth at all six of its business segments.

Earnings rose to $1.32 billion, or $1.45 a share, up from $1.1 billion, or $1.20 a share, a year earlier.

Revenue rose to $15.08 billion from $13.8 billion a year earlier.

Dow Jones Industrial Average earnings calendar and scorecard.

Analysts surveyed by Thomson Reuters expected United Technologies to earn $1.41 a share in the quarter on revenue of $14.7 billion.

United Technologies, in a press release Wednesday, said it was raising its full-year earnings outlook to $5.35 to $5.45 a share, up from $5.25 to $5.40 a share previously, "based on the exceptional first half performance at Carrier, strong order rates, and the weaker than planned U.S. dollar."

The company said it expects 2011 EPS growth of 13% to 15% on sales of $58 billion, up from its previous expectation of $57 billion.

-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

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