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United Technologies Beats Q1 Earnings, Reaffirms Outlook

United Technologies Corporation UTX provides high-end technology products and services to the building systems and aerospace industries worldwide. It has a diversified business mix and wide geographical presence to mitigate operating risk. The business mix and diversification allows the company to remain profitable even during tough economic times, delivering consistent earnings and dividend growth.

As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report. UTX has a stellar earnings surprise history, comprehensively beating estimates in the last four trailing quarters with an average earnings surprise of 5.12%.

Currently, UTX has a Zacks Rank #4 (Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: UTX beats on earnings. The Zacks Consensus Estimate called for EPS of $1.39, and the company reported adjusted EPS of $1.47.

Revenue: Revenues beat. UTX posted net sales of $13,357 million, compared to Zacks Consensus Estimate of $13,034 million.

Key Stats to Note: During first-quarter 2016, UTX delivered strong operational performance in with organic sales growth of 2%. The company is focused on structural cost reduction. Despite a challenging macroeconomic environment, the company reiterated its earlier guidance for 2016 of adjusted earnings of $6.30 to $6.60 per share on sales of $56 billion to $58 billion.

Stock Price: UTX’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.

Check back our full write up on this UTX earnings report later!

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