United Technologies Corp. said its first-quarter normalized net income was $1.30 per share, compared with the S&P Capital IQ consensus estimate of $1.46 per share.
EPS rose 12.1% year over year from $1.16.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.17 billion, an increase of 10.6% from $1.06 billion in the year-earlier period.
The normalized profit margin climbed to 8.6% from 7.2% in the year-earlier period.
Total revenue fell on an annual basis to $14.54 billion from $14.74 billion, and total operating expenses fell year over year to $12.35 billion from $12.69 billion.
Reported net income rose 18.0% on an annual basis to $1.43 billion, or $1.58 per share, from $1.21 billion, or $1.32 per share.
