United Technologies meets 4Q profit forecasts

Markets Associated Press

United Technologies Corp. (UTX) on Wednesday reported fourth-quarter profit of $1.01 billion.

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The Farmington, Connecticut-based company said it had profit of $1.25 per share. Earnings, adjusted for non-recurring costs and restructuring costs, were $1.56 per share.

The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of $1.56 per share.

The maker of elevators, jet engines and other products posted revenue of $14.66 billion in the period, topping Street forecasts. Six analysts surveyed by Zacks expected $14.62 billion.

For the year, the company reported profit of $5.06 billion, or $6.12 per share. Revenue was reported as $57.24 billion.

United Technologies expects full-year earnings in the range of $6.30 to $6.60 per share, with revenue in the range of $57.5 billion to $59 billion.

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United Technologies shares have risen almost 2 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 2 percent. The stock has increased 31 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UTX at https://www.zacks.com/ap/UTX

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Keywords: United Technologies, Earnings Report