UTC beats profit estimates on airplane boom
Reuters
Published Oct 23, 2018 07:15AM ET
UTC beats profit estimates on airplane boom
(Reuters) - United Technologies Corp (N:UTX) reported a better-than-expected quarterly profit on Tuesday as the industrial conglomerate benefited from higher sales of aircraft parts, driven by record production at planemakers Boeing (NYSE:BA) and Airbus.
The maker of Pratt & Whitney aircraft engines and Carrier air conditioners said net income attributable to shareholders fell to $1.24 billion, or $1.54 per share, in the second quarter ended Sept. 30, from $1.33 billion, or $1.67 per share, a year earlier.
On an adjusted basis, the company earned $1.93 per share, beating analysts' average estimate of $1.81 per share, according to Refinitiv.
Net sales rose 9.6 percent to $16.51 billion.
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Written By: Reuters
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