September 7, 2012

Hartford's UTC backs its 2012 outlook

Hartford industrial conglomerate United Technologies Corp. on Friday backed its previous 2012 net income and revenue predictions, The Associated Press reports.

UTC told an investors' conference that it still expects to post a profit of $5.25 to $5.35 per share on $58 billion to $59 billion in revenue. Analysts polled by FactSet expect earnings of $5.32 per share on $58.59 billion in revenue.

The company also said that strong cash generation and proceeds from expected asset sales will allow it to pay down about a third of the debt issued for its acquisition of Goodrich Corp. by the end of the year.

UTC shares fell 7 cents to $79.33 in Friday morning trading.

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