UTC Reports Second Quarter EPS Growth From Continuing Operations of 15 Percent; Expects 2012 EPS of $5.25 to $5.35 on Sales of $58 Billion to $59 Billion and Increases Restructuring
United Technologies Corp. (NYSE:UTX) today reported second quarter 2012 results. All results in this release reflect continuing operations unless otherwise noted.
Earnings per share of $1.62 and net income attributable to common shareowners of $1.5 billion, were up 15 percent and 14 percent, respectively, over the year ago quarter. Results for the current quarter include $0.10 per share of net favorable one-time items, partially offset by $0.06 of restructuring costs. Earnings per share in the year ago quarter included $0.05 per share of net favorable one-time items, partially offset by $0.04 of restructuring costs. Before these items, earnings per share increased 13 percent year over year. The effective tax rate for the quarter was 22.5 percent. Foreign currency translation, and hedges at Pratt & Whitney Canada, had an adverse impact of $0.05.
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