UTC Reaffirms 2013 Outlook
NEW YORK, March 14, 2013 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) reaffirmed its expectation for 2013 earnings per share of $5.85 to $6.15, on sales of $64 to $65 billion. The company also continues to anticipate that cash flow from operations less capital expenditures will be equal to or in excess of net income attributable to common shareowners.
"We are focused on integration of the transformed portfolio and execution of our growth strategy," said Louis Chenevert, Chairman & Chief Executive Officer. "UTC is well positioned to take advantage of improvement in key end markets and deliver consistent earnings growth well into the future."
Today's United Technologies meeting with investors and analysts will be 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 industries.
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 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 regulatory approvals on acceptable terms 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.
SOURCE United Technologies Corp.