United Technologies Stock Ticks Higher on Positive Q3 Results

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United Technologies stock was up on Tuesday following the release of its earnings report for the third quarter of 2018.

United Technologies Stock Ticks Higher on Positive Q3 Results

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United Technologies’ (NYSE:UTX) earnings report for the third quarter of the year includes earnings per share of $1.93. This is an increase over its earnings per share of $1.73 from the third quarter of 2017. It was also good news for United Technologies stock by coming in above Wall Street’s earnings per share estimate of $1.82 for the period.

Net income reported by United Technologies for the third quarter of 2018 came in at $1.25 billion. This is down from the company’s net income of $1.33 billion reported in the same period of the year prior.

United Technologies also reported operating income of $1.77 billion for the third quarter of 2018. The research, development and manufacturing company’s operating income from the third quarter of the previous year was $1.94 billion.

During the third quarter of the year, United Technologies reported revenue of $16.51 billion. This is better than the company’s revenue of $15.06 billion from the same time last year. It was also a positive for United Technologies stock by beating out analysts’ revenue estimate of $16.15 billion for the quarter.

United Technologies also took time in its most recent earnings report to update its guidance for the full year of 2018. It is now expecting earnings per share between $7.20 and $7.30 on revenue ranging from $64.00 billion to $64.50 billion. Wall Street is looking for earnings per share of $7.23 on revenue of $64.58 billion for the full year of 2018.

UTX stock was up 1% as of noon Tuesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/10/united-technologies-stock-up-on-q3-earnings/.

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