UTC Reports Third Quarter 2016 Results
UNITED TECHNOLOGIES (UTX)
Last united technologies earnings: 1/28 06:30 am
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US:NYSE Investor Relations:
utc.com/investors/pages/default.aspx
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Source: PR Newswire
FARMINGTON, Conn., Oct. 25, 2016 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) today reported third quarter 2016 results. All results in this release reflect continuing operations unless otherwise noted. Third quarter GAAP EPS of $1.74 was up 8 percent versus the prior year and included 2 cents of net restructuring and other significant items. Adjusted EPS of $1.76 was up 5 percent versus the prior year. Net income in the quarter was $1.4 billion, up 1 percent versus the prior year. Sales of $14.4 billion were up 4 percent, driven by 5 points of organic growth partially offset by 1 point of adverse foreign exchange. "United Technologies delivered another quarter of strong financial performance," said UTC Chairman & Chief Executive Officer Gregory Hayes. "Organic growth across the aerospace units and solid cash generation across all businesses, even with continuing investments in the aerospace related ramp-up, give us high confidence in meeting our commitments to shareholders.
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