The maker of Pratt & Whitney Otis elevators and aero engines, United Technologies issued missed estimations for the 2015 projections. The chief executive of the company admitted that the returns of investor had not done well for the past 2 years. The conglomerate of building systems and aerospace had gotten a new CEO who expected earnings of $6.80 per share. In a conference hall as stated by Greg Hayes, the Chief Executive of the company, they won’t be selling commercial helicopters business and Sikorsky military. Mr. Hayes used to be a chief financial officer in United Technologies and analysts have been expecting him to be conventional and hands-on in his forecast.
According to the source, on average, analysts were expecting a $7.27 per share profit on $67.52 billion revenue. On its military business, the company has forecasted a range of 5-7% increase in sales and on its commercial business, a 3-5% increase in sales. To the common shareholders, it is also expected to have a free cash flow approximately 90-100% attributable of net income. As of the fourth quarter, the company is expecting a $1.60 per share profit on $17 billion revenue — lower than the average estimates of analysts from a $1.68 per share profit of $17.18 billion revenue. On Thursday at New York Stock Exchange, the company shares have reached $114.04.