From the Wires
United Technologies Corp. Reaffirms 2013 Outlook
By: PR Newswire
Jan. 8, 2013 04:17 PM
HARTFORD, Conn., Jan. 8, 2013 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) today reaffirmed its expectations for 2013 earnings per share in the range of $5.85 to $6.15 on sales of $64 billion to $65 billion, and cash flow from operations less capital expenditures equal to or in excess of net income attributable to common shareowners.
Today's announcement that Embraer has selected Pratt & Whitney's PurePower PW1700G and PW1900G engines as the exclusive power for its new second generation E-Jet aircraft family is expected to have no impact on UTC's 2013 financial outlook as communicated to investors in December.
United Technologies, based in Hartford, Conn., is a diversified company that provides high technology products and services to the building and aerospace industries.
This release contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under securities laws. From time to time, oral or written forward-looking statements may also be included in other materials released to the public. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based upon assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "confident" and other words of similar meaning in connection with a discussion of future operating or financial performance. These include, among others, statements relating to: future sales, earnings, cash flow, results of operations, uses of cash and other measures of financial performance; the effect of economic conditions in the markets in which we operate and in the United States and globally and any changes therein, including financial market conditions, fluctuation in commodity prices, interest rates and foreign currency exchange rates; levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry; levels of air travel, financial difficulties (including bankruptcy) of commercial airlines; the impact of weather conditions, natural disasters and the financial condition of our customers and suppliers; delays and disruption in delivery of materials and services from suppliers; new business opportunities; cost reduction efforts and restructuring costs and savings and other consequences thereof; the scope, nature or impact of acquisition and divestiture activity, including integration of acquired businesses into our existing businesses; the development, production and support of advanced technologies and new products and services; the anticipated benefits of diversification and balance of operations across product lines, regions and industries; the impact of the negotiation of collective bargaining agreements, and labor disputes; the outcome of legal proceedings and other contingencies; future repurchases of common stock; future levels of indebtedness and capital and research and development spending; future availability of credit; pension plan assumptions and future contributions; and the effect of changes in tax, environmental and other laws and regulations and political conditions in the United States and other countries in which we operate. All forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. 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
SOURCE United Technologies Corp.
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