United Tech CFO warns of "tough" first quarter
* Weakness at Carrier, Pratt & Whitney units
* Stands by full-year forecast
Feb 8 (Reuters) - United Technologies Corp Chief Financial Officer Greg Hayes hammered home the message on Wednesday that the world's biggest maker of elevators and air conditioners is having a difficult first quarter.
"The first quarter is going to be tough," Hayes said at an investor conference in New York. "We've purposely said that so as not to surprise anybody when we report (first-quarter results) in April."
Weak demand for its Carrier air conditioners and high expenses at the Pratt & Whitney jet engine unit will take a toll on results, Hayes added. He stood by the company's full-year forecast, which calls for earnings growth of 6 percent to 9 percent, factoring the costs of its largest-ever acquisition, the $16.5 billion pending takeover of Goodrich Corp.
Hayes first raised the issue of a difficult first quarter on a January conference call.
The Hartford, Connecticut-based company does not provide a quarterly profit forecast. Analysts, on average, look for earnings of $1.20 per share, which would represent growth of about 8 percent, according to Thomson Reuters I/B/E/S.
United Tech shares were down 8 cents changed at $80.20 on the New York Stock Exchange.
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