Replies to post #241 on The Global Demographic Tailwind

[DewDiligence]

UTX Sees Order Pickup During 2Q10

[This is a rather tepid statement insofar as the company did not actually raise EPS guidance, but every little bit helps in this market.]

http://www.reuters.com/article/idCNN1815622920100518

›Tue May 18, 2010 12:46pm EDT

BOSTON, May 18 (Reuters) - United Technologies Corp <UTX.N> is experiencing a pickup in orders during the second quarter, which may allow it to top Wall Street's earnings expectations, the diversified U.S. manufacturer's top executive said.

"Current order rates give us confidence" in second-quarter results, Chairman and Chief Executive Louis Chenevert told an investor meeting in Florida. "We expect Q2 EPS to be better than expected as organic growth resumes."

The global economy is in a "gradual, but certain recovery," he said.

The company's Carrier air conditioner unit, which tends to receive orders on shorter notice than some of its aerospace divisions, is seeing a particular rise in orders, Chenevert said.

The Hartford, Connecticut-based company is confident in its full-year earnings target of $4.50 to $4.65 per share, Chenevert said.

The world's largest maker of elevators and air conditioners does not provide a quarterly forecast, but analysts on average look for second-quarter earnings of $1.16 per share, according to Thomson Reuters I/B/E/S.‹