United Technologies Forecast Indicates ’13 May Fall Short

Thursday, 13 Dec 2012 07:10 PM

 

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United Technologies Corp. forecast 2013 sales and earnings driven by its purchase of Goodrich, the largest aerospace acquisition in history, that still trailed analysts’ estimates.

The company’s projected earnings next year will be between $5.85 and $6.15 a share, with the $6 midpoint lagging behind the $6.13 average of analysts’ estimates. Revenue will be $64 billion to $65 billion, United Technologies said, lower than the $66.2 billion projected by analysts.

United Technologies shares dropped 1.2 percent to $79.42 at 5:05 p.m., after the close of regular trading in New York. The shares previously rose 10 percent this year.

The purchase of Goodrich and a controlling stake in an engine-making joint venture with MTU Aero Engines AG and Japanese Aero Engines Corp. will contribute 75 cents to per- share profit next year, the company said in a presentation on its website.

Rising pension expense and expected losses on Sikorsky helicopters for the Canadian government reduced earnings by 46 cents.

Profit this year will be about $5.32 a share on revenue of $58 billion, according to a presentation on United Technologies’ website. That matched the average of analysts’ estimates.

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