United Technologies tops 3Q net income expectations, misses revenue forecasts

MarketsAssociated Press

United Technologies Corp. (UTX) on Tuesday reported profit of $1.85 billion in its third quarter.

On a per-share basis, the Hartford, Connecticut-based company said it had profit of $2.04. Earnings, adjusted for non-recurring gains, came to $1.82 per share.

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

The maker of elevators, helicopters, jet engines and other products posted revenue of $16.17 billion in the period, which fell short of Street forecasts. Analysts expected $16.21 billion, according to Zacks.

United Technologies expects full-year earnings to be $6.75 to $6.85 per share.

United Technologies shares have declined 11 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 3 percent. The stock has decreased nearly 6 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. UTX stock research report from Zacks: http://www.zacks.com/ap/UTX


Keywords:United Technologies,Earnings Report