UTC confident about 2017 outlook, forecasts revenue growth of 1-3%

United Technologies Corp (UTC) chairman and CEO Gregory Hayes reported (25-Jan-2017) the company remains confident of meeting the expectations for 2017 set in Dec-2016. Despite an "uncertain global macro environment" thanks to the "growing aerospace backlog and strategic investments in the commercial businesses" which positions UTC to generate higher organic growth in 2017. Mr Hayes said the company also remains on track to meet its 2020 targets, and "remains focused on innovation for growth, execution, structural cost reduction, and disciplined capital allocation." 2017 outlook:

• Revenue: USD57.5-59.0 billion, +1% to 3% year-on-year;
• • Organic sales growth: 2% to 4%;
• Free cash flow: 90% to 100% of net income attributable to common shareowners; 
• Adjusted EPS: USD6.30 to USD6.60;
• Share repurchases; USD3.5 billion;
• Acquisitions placeholder: USD1-2 billion. [more - original PR]