United Technologies Raises Low End Of 2017 Adj. EPS Outlook Range - Quick Facts

(RTTNews) - United Technologies Corp. (UTX) announced, for 2017, the company now expects adjusted EPS of $6.45 to $6.60, up from prior guidance range of $6.30 to $6.60. Sales are now projected in a range of $58.5 billion to $59.5 billion, up from previous guidance of $57.5 billion to $59 billion (up 2 to 4 percent, including organic sales growth of 3 to 4 percent). The company noted that there is no change in its previously provided 2017 expectations for free cash flow, share repurchases, or the placeholder for acquisitions.

Second quarter GAAP EPS was $1.80, up 9 cents (5 percent) versus the prior year and included 5 cents of restructuring. Adjusted EPS was $1.85, up 2 percent. Sales of $15.3 billion were up 3 percent, driven by 3 points of organic growth and 1 point of net acquisition growth, partially offset by 1 point of adverse foreign exchange.