United Technologies Corp. (UTX) reported second-quarter earnings rose 17% as the company posted sales growth at most of its businesses, led by its UTC Aerospace and Pratt & Whitney businesses.
United Technologies reported a profit of $1.56 billion, or $1.71 a share, up from $1.33 billion, or $1.47 a share, a year earlier. The latest period included a net five cents of favorable one-time items. The year-earlier period included a net four-cent gain. Earnings from continuing operations were up at $1.70 from $1.62. Revenue jumped 16% to $16.01 billion with a boost from acquisitions.Analysts had projected earnings of $1.57 on revenue of $16.37 billion.
For the year, United Technologies raised the lower end of its per-share earnings estimate by 15 cents and now expects $6 to $6.15 . The company now sees sales of $64 billion, at the low end of its previous estimate for $64 billion to $65 billion.