Edition:
India

United Technologies Reports Q2 Results


Tuesday, 23 Jul 2019 

July 23 (Reuters) - United Technologies Corp ::UNITED TECHNOLOGIES REPORTS SECOND QUARTER 2019 RESULTS; RAISES 2019 ORGANIC SALES AND ADJUSTED EPS OUTLOOK.QTRLY SALES OF $19.6 BILLION, UP 18 PERCENT VERSUS PRIOR YEAR.QTRLY GAAP EPS OF $2.20.QTRLY GAAP EPS OF $2.20.QTRLY ADJUSTED EPS OF $2.20.BASED ON A SOLID FIRST HALF, WE FEEL CONFIDENT RAISING OUR OUTLOOK FOR FULL YEAR.SEES 2019 ADJUSTED EPS OF $7.90 TO $8.05, UP FROM $7.80 TO $8.00.UPDATES ITS 2019 OUTLOOK.OTIS NEW EQUIPMENT ORDERS WERE DOWN 6 PERCENT AT CONSTANT CURRENCY IN QUARTER.CONTINUED TO SEE OUTPERFORMANCE AT COLLINS AEROSPACE THIS QUARTER.MADE SIGNIFICANT PROGRESS ON INTEGRATION OF ROCKWELL COLLINS, WHICH MORE THAN OFFSET SOFTNESS IN CARRIER'S END MARKETS.SEES 2019 ORGANIC SALES GROWTH OF 4 TO 5 PERCENT, UP FROM 3 TO 5 PERCENT.LOOKING AHEAD, WE REMAIN ON TRACK TO ESTABLISH OTIS AND CARRIER AS INDEPENDENT COMPANIES IN FIRST HALF OF 2020.QTRLY EQUIPMENT ORDERS AT CARRIER WERE DOWN 12 PERCENT ORGANICALLY.NO CHANGE IN PREVIOUSLY PROVIDED 2019 EXPECTATIONS FOR SALES OF $75.5 BILLION TO $77.0 BILLION.QTRLY PRATT & WHITNEY COMMERCIAL AFTERMARKET SALES WERE UP 2 PERCENT.NO CHANGE IN 2019 FREE CASH FLOW OF $4.5 BILLION TO $5.0 BILLION.IN QUARTER, COLLINS AEROSPACE COMMERCIAL AFTERMARKET SALES WERE UP 75 PERCENT AND UP 18 PERCENT ORGANICALLY.QTRLY PRATT & WHITNEY COMMERCIAL AFTERMARKET SALES WERE UP 2 PERCENT.Q2 EARNINGS PER SHARE VIEW $2.05, REVENUE VIEW $19.55 BILLION -- REFINITIV IBES DATA.