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United Technologies Q1 profit climbs 10.6% YOY

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.