United Technologies Corp. posted lower third-quarter earnings despite a 5 percent sales gain for the period.
For three months ended Sept. 30, the Farmington aeroparts and building-systems maker said Tuesday it netted $1.3 billion, or $1.67 a diluted share, down 8 percent from $1.5 billion, or $1.78 a diluted share, netted the same period last year.
Third-quarter sales were $15.1 billion vs. $14.4 billion a year ago.
Among UTC’s operating units, the parent said new equipment orders at Otis Elevator were down 4 percent from a year earlier. Yet, equipment orders at UTC Climate, Controls & Security increased 2 percent organically. Commercial aftermarket sales rose 11 percent at both Pratt & Whitney and UTC Aerospace Systems.
Despite its mixed third-quarter results, UTC raised its full-year earnings outlook to $6.58 to $6.63 per share, up from $6.45 to $6.60. Its overall sales outlook also was hiked to $59 billion to $59.5 billion, up from $58.5 billion to $59.5 billion.
