United Technologies tops Street 3Q forecasts

United Technologies Corp. (UTX) on Tuesday reported third-quarter earnings of $1.33 billion.

The Farmington, Connecticut-based company said it had profit of $1.67 per share. Earnings, adjusted for restructuring costs, came to $1.73 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.

The maker of elevators, jet engines and other products posted revenue of $15.06 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $14.89 billion.

United Technologies expects full-year earnings in the range of $6.58 to $6.63 per share, with revenue in the range of $59 billion to $59.5 billion.

United Technologies shares have risen 10 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 15 percent. The stock has risen 23 percent in the last 12 months.


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