Industrial giant United Technologies Corp. announced on Wednesday December 14, 2016 that it anticipates to post annual results at the high end of its forecasts and offered mixed fiscal projections for next year.
The company, which has recently been struggling to roll out its new jet engine, also said in an announcement that it is looking to generate $6.30 to $6.60 a share in adjusted profit next year, flat to down from this year, on sales of $57.5 billion to $59 billion, mainly driven by its jet-engine segment.
In the meantime analysts were expecting $6.58 a share in adjusted profit on $59.17 billion in sales.
Back in October this year, when the company unveiled third-quarter results, United Technologies had said next year’s profit would be flat from this year’s estimated adjusted profit of $6.55 to $6.60 a share on $57 billion to $58 billion in sales.
The Connecticut-based company, who’s Carrier Corp. were in the limelight earlier in December after it decided to keep some jobs in the U.S. in exchange for a tax breaks, also revealed on Wednesday it had expanded its board to 15 members and appointed Intel Corp. veteran Diane M. Bryant, 54 years old, to the new seat. Ms. Bryant’s appointment is effective Jan. 1.
Company’s stock, which set a 52-week-high on Tuesday, came down 0.7% to $108.55 in after-hours trading.