United Technologies: 3Q Earnings Snapshot

United Technologies Corp. (UTX) on Tuesday reported third-quarter net income of $1.24 billion.

The Farmington, Connecticut-based company said it had profit of $1.54 per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.93 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.

The maker of elevators, jet engines and other products posted revenue of $16.51 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $16.14 billion.

United Technologies expects full-year earnings in the range of $7.20 to $7.30 per share, with revenue in the range of $64 billion to $64.5 billion.

United Technologies shares have dropped nearly 1 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 3 percent. The stock has climbed 4.5 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on UTX at https://www.zacks.com/ap/UTX