United Technologies reports Q3 adj. EPS $2.21, consensus $2.03 - InvestingChannel

United Technologies reports Q3 adj. EPS $2.21, consensus $2.03

Reports Q3 revenue $19.5B, consensus $19.3B. “United Technologies delivered another strong quarter with 5 percent organic sales growth, as well as margin expansion across all four businesses,” said UTC Chairman and Chief Executive Officer Gregory Hayes. “Our strong performance through the first three quarters gives us confidence in the improved adjusted EPS range of $8.05 to $8.15 and free cash flow range of $5.3 to $5.7 billion for the year.* Continued strength at Collins Aerospace, including the integration of Rockwell Collins, and a lower tax rate are expected to more than offset softness we are seeing at Carrier.” Hayes continued, “Looking ahead, our transformational merger with Raytheon Company, which was overwhelmingly approved by both companies’ shareowners this month, positions Raytheon Technologies as a premier aerospace and defense systems provider and a leader in high technology segments. We also remain on track to establish Otis and Carrier as independent companies in the first half of 2020, with the end of the first quarter as our target.”