Hartford aerospace manufacturer United Technologies Corp. said its third-quarter profits grew by more than $420 million thanks to revenue gains across all five of its business segments.
The company booked net income of $1.85 billion, or $2.04 per diluted share, up from $1.43 billion, or $1.55, in the third quarter last year. Revenue grew 4.6 percent, to $16.17 billion.
Pratt & Whitney posted the biggest increase in profit margin over the year, growing from 13 percent to 17.8 percent.
UTC reaffirmed its full-year earnings outlook range of $6.75 to $6.85 per share and said it planned to increase its share repurchase plan to $1.5 billion.
