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Free Research Report as United Technologies’ Q1 Top-Line Growth of 10% Outshone Forecasts

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LONDON, UK / ACCESSWIRE / May 08, 2018 / If you want access to our free earnings report on United Technologies Corp. (NYSE: UTX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=UTX. The Company posted its first quarter fiscal 2018 (Q1 FY18) financial results on April 24, 2018. The Company's net sales rose 10% y-o-y, beating market consensus forecasts. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is currently working on the research report for Huntington Ingalls Industries, Inc. (NYSE: HII), which also belongs to the Industrial Goods sector as the Company United Technologies. Do not miss out and become a member today for free to access this upcoming report at:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, United Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

United Technologies reported net sales of $15.24 billion in Q1 FY18, which came in above the $13.82 billion recorded in the prior year's same quarter; topping market expectations of $14.54 billion. The Company's organic sales also rose 6% y-o-y, which was the strongest first quarter organic growth rate since 2011.

For the quarter ended March 31, 2018, the maker of elevators and jet engines posted a net income attributable to common shareowners of $1.30 billion, or $1.62 per diluted share, compared to $1.39 billion, or $1.73 per diluted share, in Q1 FY17. The Company reported an adjusted income attributable to common shareowners of $1.42 billion, or $1.77 per diluted share, in Q1 FY18, up from $1.18 billion, or $1.48 per diluted share, in the prior year's comparable period. Furthermore, Wall Street had expected the Company to report earnings per share (EPS) of $1.51 for Q1 FY18.

Operational Metrics

For Q1 FY18, the Farmington, Connecticut-based Company's cost of products and services was $11.28 billion versus $10.14 billion in Q1 FY17. The Company's research and development (R&D) expenses came in at $554 million in Q1 FY18 compared to $586 million in the previous year's corresponding quarter. The Company's selling, general, and administrative expenses (SG&A) increased to $1.71 billion during Q1 FY18 from $1.54 billion in Q1 FY17. The Company incurred total costs and expenses of $13.55 billion in Q1 FY18, rising from $12.26 billion in Q1 FY17. Furthermore, the Company's adjusted operating income stood at $2.03 billion, or 13.6% of net sales, in Q1 FY18 versus $1.82 billion, or 13.6% of net sales, in Q1 FY17.

Segment Results

For Q1 FY18, United Technologies' Otis segment's net sales grew to $3.04 billion from $2.80 billion in Q1 FY17. The segment's adjusted operating profit was $476 million, or 15.7% of segment net sales, during Q1 FY18 versus $452 million, or 16.1% segment net sales, in the prior year's same quarter.

The Company's UTC Climate, Controls & Security segment's net sales increased to $4.38 billion in Q1 FY18 from $3.89 billion in the year ago comparable quarter. However, the segment's adjusted operating profit declined to $606 million, or 13.8% of segment net sales, in Q1 FY18 from $575 million, or 14.8% of segment net sales, in Q1 FY17.

United Technologies' Pratt & Whitney segment's net sales grew to $4.33 billion in Q1 FY18 from $3.76 billion in Q1 FY17. The segment reported an adjusted operating profit of $413 million in Q1 FY18, which came in above $356 million in Q1 FY17.

During Q1 FY18, the Company's UTC Aerospace Systems segment's net sales stood at $3.82 billion compared to $3.61 billion in Q1 FY17. Furthermore, the segment's adjusted operating profit increased to $615 million, or 16.1% of segment net sales, in Q1 FY18 from $554 million, or 15.3% of segment net sales, in Q1 FY17.

Cash Matters and Balance Sheet

For Q1 FY18, the Company's cash flow from operations declined to $453 million from $993 million in Q1 FY17. The Company's free cash flow also fell to $116 million in Q1 FY18 from $993 million in Q1 FY17.

As on March 31, 2018, United Technologies reported a cash and cash equivalents balance of $7.67 billion compared to $8.99 billion as on December 31, 2017. Additionally, the Company's long-term debt increased to $25.15 billion as on March 31, 2018, from $24.99 billion as on December 31, 2017.


For the full year FY18, United Technologies' management raised its sales guidance to be in the range of $63.0 billion to $64.5 billion from its previous outlook of $62.5 billion to $64.0 billion. The Company's adjusted EPS is expected to the band of $6.95 to $7.15 for FY18 from the prior guidance range of $6.85 to $7.10.

Stock Performance Snapshot

May 07, 2018 - At Monday's closing bell, United Technologies' stock climbed 1.15%, ending the trading session at $120.89.

Volume traded for the day: 2.85 million shares.

After yesterday's close, United Technologies' market cap was at $95.90 billion.

Price to Earnings (P/E) ratio was at 18.57.

The stock has a dividend yield of 2.32%.

The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry. This sector was up 0.8% at the end of the session.


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