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United Technologies plans $1.5 bln restructuring over 3 years

December 10, 2015 | By | Reply More

United Technologies Corp. late Thursday said it will implement a $ 1.5 billion restructuring plan over the next three years that will result in $ 900 million a year in run-rate savings. The aerospace company did not elaborate whether the restructuring will include layoffs. United Technologies projected 2016 adjusted earnings per share of $ 6.30 to $ 6.60 on sales of $ 56 billion to $ 58 billion. The company now expects restructuring charges of about $ 400 million in 2015, up from $ 300 million previously expected. It also raised the low end of its 2015 adjusted EPS by 5 cents to $ 6.20 to $ 6.30 versus $ 6.15 to $ 6.30 forecast by analysts in a FactSet survey. United shares gained 1.4% in after-hours trading.

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