Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bloomberg Customers

United Technologies Paces Dow's Drop as Forecast Misses

United Technologies Corp., the maker of Black Hawk helicopters and Carrier air conditioners, dropped the most in more than a month after giving a first-quarter profit forecast below analysts’ estimates.

Earnings per share will be about $1.25, Chief Financial Officer Greg Hayes said at the Hartford, Connecticut-based company’s annual investor meeting. The average of estimates from 21 analysts surveyed by Bloomberg predicts $1.38.

Results will be affected by one-time items that added 11 cents a share to earnings in the same period last year and restructuring that cuts 7 cents this year, Hayes said. Excluding gains and restructuring, first-quarter earnings per share will rise about 5 percent from a year earlier, he said.

The shares fell 2.5 percent to $112.89 at the close in New York, the largest drop since Feb. 3 and the second-biggest decline on the Dow Jones Industrial Average.

United Technologies predicted first-quarter sales of $14.5 billion, lower than analysts’ estimates of $14.9 billion. The company reiterated its 2014 earnings forecast of $6.55 to $6.85 a share.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.