United Tech beats estimates and raises low-end full-year forecast

 
Billy Bambrough
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Sales of engines and aerospace components performed well over the last quarter (Source: Getty)

United Technologies Corp (UTC) handily beat analysts expectations in its most recent quarter.

UTC – the US maker of everything from Pratt & Whitney aircraft engines to lifts – also cheered investors by raising the low end of its full-year forecast by $1bn.

Its revenue forecast for the full year is now between $57bn (£43.3) and $58bn. Over the last three months adjusted earnings per share came in at $1.82, beating the $1.68 that analysts had expected. Revenue meanwhile rose by one per cent to $14.87bn, topping analyst estimates of $14.7bn.

“We continue to focus on our key priorities,” said UTC president and chief executive Gregory Hayes. “This includes achieving critical aerospace program milestones and successfully meeting the production ramp to support our large and growing order book.”

Hayes however warned of global instability and currency risks.

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