United Tech quarterly revenue rises 2.7%

IndustriesReuters

United Technologies, the maker of Otis Elevators, Pratt & Whitney engines and Carrier air conditioners, reported a 2.7 percent rise in quarterly revenue, helped by higher sales in three of its four business units.

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United Tech said income from continuing operations attributable to common shareowners rose to $1.44 billion, or $1.80 per share, in the second quarter ended June 30, from $1.43 billion, or $1.71 per share, a year earlier.

On an adjusted basis, the company earned $1.85 per share, compared with $1.82 per share a year earlier.

Net sales rose to $15.28 billion from $14.87 billion.

United Tech raised the lower end of its 2017 adjusted earnings per share forecast to $6.45, from $6.30, while keeping the upper end unchanged at $6.60.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Amrutha Gayathri)