United Technologies Profit Rises, Affirms Full-year Outlook

United Technologies Corp. said Tuesday it had net income of $1.854 billion, or $2.04 a share, in the third quarter, up from $1.432 billion, or $1.55 a share, in the same period a year ago. The diversified industrial company said the per-share number includes 22 cents of favorable one-time items net of restructuring costs. Sales rose 5% to $16.2 billion. The FactSet consensus was for per-share earnings of $1.81 on sales of $16.164 billion. "Along with strong margin expansion and a fifth consecutive quarter of organic sales growth, we've seen increased demand for our integrated building solutions and revenue synergy opportunities for our building & industrial systems businesses," Chief Executive Louis Chenevert said in a statement. The company is still expecting full-year per-share earnings of $6.75 to $6.85 on sales of about $65 billion. Shares were not yet active in premarket trade, but are down 10.8% in the year so far, while the Dow Jones Industrial Average is down 1.1%.