United Technologies Corp. today reported third quarter earnings rose to $1.3 billion, prompting the Hartford company to raise its full-year earnings estimate.
The parent of Pratt & Whitney, Sikorsky Aircraft, Otis Elevator and Hamilton Sundstrand said earnings per share were $1.33, up 10 percent from a year earlier.
Consolidated revenues for the third quarter increased 7 percent to $14.8 billion, the company said.
UTC’s shares traded at 11 a.m. at $49 a share, down 25 cents or 0.5 percent.
“Based on the strong performance in the first three quarters of the year, we are raising the bottom end of earnings per share guidance to $4.90 from $4.80. We now expect earnings per share of $4.90 – $4.95, up 15 to 16 percent above 2007 earnings per share,” said Louis Chenevert, UTC president and chief executive officer.
Chenevert said while UTC’s order backlog is strong, the company saw order rates slow in some businesses in the quarter due to economic turmoil.
