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July 23, 2019, 7:11 a.m. EDT

United Technologies stock gains after earnings beat, raised outlook

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By Emily Bary

Shares of United Technologies Corp. /zigman2/quotes/203237915/composite UTX +0.33% are up 2.7% in premarket trading Tuesday after the company beat earnings expectations for the second quarter and increased its full-year outlook. The company reported net income of $1.9 billion, or $2.20 a share, down from $2.05 billion, or $2.56 a share, a year earlier. On an adjusted basis, the company also posted earnings per share of $2.20, up from $1.97 a year prior. Analysts surveyed by FactSet had been modeling $2.05 in adjusted EPS. United Technologies saw second-quarter sales of $19.63 billion, up from $16.71 billion a year earlier. Analysts had been projecting $19.55 billion in net sales. The company now projects full-year adjusted EPS of $7.90 to $8.05, up from a prior range of $7.80 to $8.00. United Technologies also projects that organic sales will rise by 4 to 5 percent for the full year. Its earlier forecast was for 3 to 5 percent. Its shares have climbed 25% so far this year, as the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.13% has increased 16%.

/zigman2/quotes/203237915/composite
US : U.S.: NYSE
$ 137.66
+0.45 +0.33%
Volume: 1.76M
Sept. 18, 2019 6:30p
P/E Ratio
22.46
Dividend Yield
2.14%
Market Cap
$118.40 billion
Rev. per Employee
$277,021
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,147.08
+36.28 +0.13%
Volume: 215.60M
Sept. 18, 2019 6:20p
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