United Technologies Backs 2012 Outlook

By FOXBusiness

United Technologies (NYSE:UTX) reaffirmed its fiscal 2012 earnings outlook on Tuesday with earnings per share in line with Wall Street expectations and sales topping the consensus.

The Hartford, Conn.-based maker of technologies for the building and aerospace industries forecast full-year adjusted earnings of $5.25 to $5.35 a share on sales of $58 billion.

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Analysts in a Thomson Reuters poll are looking for fiscal 2012 EPS of $5.32 on revenue of $57.91 billion.

United Tech’s chief executive, Louis Chenevert, also told investors at an annual meeting on Tuesday that the company continues to expect cash flow from operations excluding capital expenditures to exceed net income this year.