UTC Says Sales Are Up in All Businesses — Except Pratt
HARTFORD, Conn. (AP) _ Connecticut-based United Technologies Corp. says it expects 2011 revenue to fall short of Wall Street expectations, with sales up in all businesses except jet engine manufacturing subsidiary Pratt & Whitney.
The Hartford conglomerate said Thursday it expects to earn between $5.05 and $5.35 per share in 2011, with revenue of $56 billion to $57 billion, an increase of as much as 5.6 percent from this year.Analysts surveyed by Thomson Reuters expect 2011 earnings of $5.30 per share and revenue of $57.07 billion.
The manufacturer of jet engines, elevators, heating and cooling systems and other aerospace and building equipment backed its previous 2010 guidance of $4.70 per share, including 28 cents for restructuring. It projects revenue of $54 billion.
United Technologies has benefited from rebounding aerospace markets and restructuring.
(Copyright 2010 by The Associated Press. All Rights Reserved.)