United Technologies Corp. (UTX) beat consensus estimates for the fourth quarter (4Q) of fiscal year 2013 (FY13). It released its earnings report during pre-market hours and the stock price was up just 0.22% in pre-market trading.
The diversified conglomerate, with businesses ranging from aircraft manufacturing to elevators and escalators, reported earnings per share of $1.58, beating analysts’ estimates by $0.14. Full year earnings came in at $6.21 per share, reflecting an increase of 16% year-over-year (YoY). Revenues for the company during the fourth quarter amounted to $16.8 billion, an increase of 2% YoY, and were led mostly by inorganic growth.
The company’s elevator brand, Otis, is the largest in the world, and reported an increase in orders of 8% YoY.
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