United Technologies 1Q earnings seen rising

AP News
Posted: Apr 24, 2012 3:01 AM
United Technologies 1Q earnings seen rising

Wall Street expects United Technologies Corp. to report better first-quarter earnings, even though sales likely declined for the first time since early 2010.

The Hartford, Conn. conglomerate's results provide insights into aviation, construction, real estate and other markets. The company makes everything from elevators to air conditioning systems to jet engines.

Analysts are expecting an adjusted profit of $1.21 per share, up from $1.11 a year earlier. But sales are forecast to drop to $12.88 billion from $13.34 billion. The last time the company's sales fell year-over-year was in the first quarter of 2010.

UTC hopes its $16.4 billion acquisition of aerospace parts maker Goodrich can close by mid-year. But a review of the deal by European regulators could stretch into August.