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United Technologies Corp net sales up 10.8% in 1Q2011

21-Apr-2011 1:08 PM

United Technologies Corp reports (20-Apr-2011) the following consolidated financial highlights for the three months ended Mar-2011:

  • Net sales: USD13,344 million, +10.8% year-on-year;
  • Operating profit: USD1779 million, +16.8%;
  • Net income: USD1012 million, +16.9%. [more]

UTC: “Based on the strong start to the year, particularly in Carrier’s short cycle businesses, we are raising the full year earnings per share expectation to USD5.25 to USD5.40, from USD5.20 to USD5.35 previously. We now anticipate 2011 EPS growth to be 11 to 14% on sales growth of 5%. The global economic recovery continues to gain traction as evidenced by the momentum of our end markets and we now expect 2011 sales of USD57 billion, at the high end of our prior range of USD56 billion to USD57 billion,” Louis Chênevert, UTC Chairman and Chief Executive Officer. Source: Company statement, 20-Apr-2011.