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UTC/Carrier HVAC Business Profit 13.6%
Apr 23, 2013
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United Technologies Corp. reported first quarter 2013 net income attributable to common shareowners of $1.3 billion, up 7% from the same quarter a year earlier.

UTC includes global HVAC producer Carrier, which is part of the UTC Climate, Controls & Security business segment. UTC Climate, Controls & Security equipment 1Q orders increased 5% organically.

UTC 1Q 2013 sales were $14.4 billion, up 16% from 1Q 2012, growth that was driven by acquisitions. Organic sales were down 2% from the year-ago quarter. UTC's 1Q segment operating profit was up 14% from 1Q 2012.

UTC said that, after adjusted for restructuring costs and one-time items, operating profit grew 15%.

UTC Climate, Controls & Security, results for the quarter ending March 31, 2013:
* net sales were $3,837 million, from $4,112 million in 1Q 2012
* operating profit was $520 million, from $544 million in 1Q 2012
* segment operating profit was 13.6%, compared to 13.2% in 1Q 2012

Climate, Controls & Security saw a net gain of approximately $38 million from its ongoing portfolio transformation, primarily due to a gain on the sale of a business in Hong Kong.

UTC Climate, Controls & Security in 2012 had 61,272 employees, a net of $17.1 billion, and operating profit of $2.4 billion.

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