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United Technologies Earnings: UTX Stock Jumps on Q2 Beat, Outlook

United Technologies earnings for the second quarter of 2019 have UTX stock heading higher on Tuesday.

United Technologies Earnings: UTX Stock Jumps on Q2 Beat, Outlook

Source: Shutterstock

United Technologies (NYSE:UTX) reported earnings per share of $2.20 for the second quarter of the year. This is an increase over the company’s earnings per share of $1.97 from the same period of the year prior. It was also a boon to UTX stock by beating out Wall Street’s earnings per share estimate of $2.05 for the quarter.

United Technologies earnings for the second quarter of 2019 have net income coming in at $2.00 billion. This is down from the company’s net income of $2.14 billion reported in the second quarter of 2018.

Operating income reported in the United Technologies earnings report for the second quarter of the year comes in at $2.58 billion. The U.S developer of aircraft and other technology reported operating income of $2.88 billion during the same time last year.

The United Technologies earnings report for the second quarter of 2019 also includes revenue of $19.63 million. That’s a hefty increase over the company’s revenue of $16.71 billion reported in the second quarter of the previous year. It also comes in above analysts’ revenue estimate of $19.55 billion for the period.

The most recent United Technologies earnings report also increases the company’s outlook for 2019. It now expects earnings per share for the year to range from $7.90 to $8.05. The previous outlook for for earnings per share between $7.80 and $8.00. Wall Street is looking for earnings per share of $7.97 for the year.

UTX stock was on a wild ride today. It started off well above yesterday’s close before falling below it. As of the afternoon, it is up slightly from yesterday.

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/2019/07/united-technologies-earnings-have-utx-stock-moving/.

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