UTC Chairman & CEO Expects 2012 Earnings Per Share of Approximately $5.32; Expects 2013 EPS of $5.85 to $6.15, Up 10 to 16

  UTC Chairman & CEO Expects 2012 Earnings Per Share of Approximately $5.32;
Expects 2013 EPS of $5.85 to $6.15, Up 10 to 16 Percent on Sales Growth of 10
                                to 12 Percent

PR Newswire

NEW YORK, Dec. 13, 2012

NEW YORK, Dec. 13, 2012 /PRNewswire/ --In a meeting with investors and
analysts today, United Technologies Corp. (NYSE: UTX) Chairman & Chief
Executive Officer Louis Chenevert narrowed the company's expectation for 2012
earnings per share to approximately $5.32, from $5.25 to $5.35. The company
continues to expect sales of approximately $58 billion. Chenevert also
projected 2013 earnings per share of $5.85 to $6.15, up 10 to 16 percent. 2013
sales are expected to be $64 billion to $65 billion, up 10 to 12 percent,
including 3 to 5 percent organic growth. The company continues to anticipate
cash flow from operations less capital expenditures will exceed net income
attributable to common shareowners in 2012 and anticipates it will be equal to
or in excess of net income attributable to common shareowners in 2013.

"2012 has been a transformational year for United Technologies," Chenevert
said. "We leveraged our organizational structure to optimize our global
scale, completed the acquisition of Goodrich and acquired control of the
International Aero Engines joint venture, and reshaped our portfolio to focus
on our core markets of aerospace and building systems.

"In 2013, UTC's reshaped portfolio will be well positioned for accelerated top
line growth," Chenevert continued. "We anticipate organic sales growth at each
of our five businesses, even with continued softness in Europe and a decline
in U.S. defense spending. We expect sales growth, our relentless focus on cost
reduction and productivity, and the incremental benefits from our portfolio
transformation to drive 10 to 16 percent earnings per share growth in 2013,
despite significant pension headwinds.

"With the portfolio transformation substantially complete, our team is focused
on integration and execution," Chenevert added. "This focus will allow us to
deliver consistent earnings growth and strong cash flow well into the future."

Today's United Technologies meeting with investors and analysts was broadcast
live on the Internet and the audio and presentation materials will be
available at www.utc.com. United Technologies Corp., based in Hartford,
Connecticut, is a diversified company that provides a broad range of high
technology products and support services to the building systems and aerospace

This release is supplemented by presentation materials that are available on
UTC's web site at www.utc.com and includes statements that constitute
"forward-looking statements" under the securities laws. All financial
projections reflect continuing operations unless otherwise noted.
Forward-looking statements often contain words such as "believe," "expect,"
"plans," "strategy," "prospects," "estimate," "project," "target,"
"anticipate," "will," "should," "see," "guidance," "confident" and similar
terms. Forward-looking statements may include, among other things, statements
relating to future and estimated sales, earnings, cash flow, financing plans,
charges, expenditures, anticipated benefits of acquisitions and divestitures,
results of operations, uses of cash and other measures of financial
performance. All forward-looking statements involve risks, uncertainties and
assumptions that may cause actual results to differ materially from those
expressed or implied in the forward-looking statements. Risks and
uncertainties include, without limitation, the effect of economic conditions
in the markets in which we operate, including the potential impact of
governmental austerity or stimulus measures, financial market conditions and
availability of credit, fluctuation in commodity prices, interest rates and
foreign currency exchange rates; future levels of indebtedness and capital and
research and development spending; levels of end market demand in construction
and in the aerospace industry; levels of air travel; financial difficulties of
commercial airlines; the impact of weather conditions and natural disasters;
the financial condition of our customers and suppliers; delays and disruption
in delivery of materials and services from suppliers; cost reduction efforts
and restructuring costs and savings and other consequences thereof; the scope,
nature or impact of acquisitions, dispositions, joint ventures and other
business arrangements, including integration of acquired businesses; the
timing and impact of anticipated dispositions of businesses; the timing and
amount of anticipated gains, losses, impairments and charges related to such
dispositions; the timing and impact of anticipated debt reduction following
the Goodrich acquisition; the development and production of new products and
services; future levels of repurchases of common stock; the anticipated
benefits of diversification and balance of operations across product lines,
regions and industries; pension plan assumptions and future contributions; the
impact of the negotiation of collective bargaining agreements and labor
disputes; the outcome of legal proceedings and other contingencies; and the
effect of changes in tax, environmental and other laws and regulations and
political conditions in countries in which we operate and other factors beyond
our control. The completion of the proposed divestitures of businesses is
subject to uncertainties, including the ability to secure disposition
agreements and regulatory approvals on acceptable terms; the satisfaction of
information, consultation, and / or negotiation obligations, if any, with
employee representatives; and satisfaction of other customary conditions.
These forward-looking statements speak only as of the date of this release and
we undertake no obligation to update or revise any forward-looking statements
after we distribute this release. For additional information identifying
factors that may cause actual results to vary materially from those stated in
the forward-looking statements, see our reports on Forms 10-K, 10-Q and 8-K
filed with the SEC from time to time, including, but not limited to, the
information included in UTC's Forms 10-K and 10-Q under the headings
"Business," "Risk Factors," "Management's Discussion and Analysis of Financial
Condition and Results of Operations" and "Legal Proceedings" and in the notes
to the financial statements included in UTC's Forms 10-K and 10-Q.


Contact: John Moran
(860) 728-7062

SOURCE United Technologies Corp.

Website: http://www.utc.com
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