This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

UTC Chairman & CEO Expects 2012 Earnings Per Share Of Approximately $5.32; Expects 2013 EPS Of $5.85 To $6.15, Up 10 To 16 Percent On Sales Growth Of 10 To 12 Percent

Stocks in this article: UTX

NEW YORK, Dec. 13, 2012 /PRNewswire/ -- In a meeting with investors and analysts today, United Technologies Corp. (NYSE: UTX) Chairman & Chief Executive Officer Louis Chenevert narrowed the company's expectation for 2012 earnings per share to approximately $5.32, from $5.25 to $5.35. The company continues to expect sales of approximately $58 billion. Chenevert also projected 2013 earnings per share of $5.85 to $6.15, up 10 to 16 percent. 2013 sales are expected to be $64 billion to $65 billion, up 10 to 12 percent, including 3 to 5 percent organic growth. The company continues to anticipate cash flow from operations less capital expenditures will exceed net income attributable to common shareowners in 2012 and anticipates it will be equal to or in excess of net income attributable to common shareowners in 2013.

"2012 has been a transformational year for United Technologies," Chenevert said.  "We leveraged our organizational structure to optimize our global scale, completed the acquisition of Goodrich and acquired control of the International Aero Engines joint venture, and reshaped our portfolio to focus on our core markets of aerospace and building systems. 

"In 2013, UTC's reshaped portfolio will be well positioned for accelerated top line growth," Chenevert continued. "We anticipate organic sales growth at each of our five businesses, even with continued softness in Europe and a decline in U.S. defense spending. We expect sales growth, our relentless focus on cost reduction and productivity, and the incremental benefits from our portfolio transformation to drive 10 to 16 percent earnings per share growth in 2013, despite significant pension headwinds.

"With the portfolio transformation substantially complete, our team is focused on integration and execution," Chenevert added.  "This focus will allow us to deliver consistent earnings growth and strong cash flow well into the future."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs