United Technologies 3Q profit, revenue up
HARTFORD, Conn. (AP) — United Technologies Corp. says its third-quarter net income and revenue rose on higher orders in elevator sales, heating and cooling equipment and commercial aviation spare parts.
The parent company of Otis Elevator, jet engine maker Pratt & Whitney, Sikorsky helicopter and other aerospace and building system manufacturers said it was shaving its revenue outlook for the year due to a weak recovery in commercial aerospace maintenance and repair and uncertainty in the global economy.
The Hartford, Conn.-based company reported net income available to common shareholders of $1.42 billion, or $1.56 per share, for the three months ended Sept. 30. That's up 7.5 percent from $1.32 billion, or $1.47 per share, a year ago.
Its earnings from continuing operations came to $1.37 per share. Analysts surveyed by FactSet expected $1.19 per share.
Revenue of $15.04 billion was up 6 percent. Analysts expected $15.6 billion in revenue.