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UTC Posts Higher Profits As Sales Dip On Foreign Currency Impacts

Cal Biesecker By
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UTC Posts Higher Profits As Sales Dip On Foreign Currency Impacts
UH-60M Photo: Sikorsky

United Technologies Corp. [UTX] on Tuesday posted strong earnings in its first quarter on operating profit gains at its building controls, climate and security segment and its businesses that make jet engines for aircraft, and helicopters.The company’s sales dipped one percent to $14.5 billion from $14.7 billion a year ago due to the impacts of foreign current rates while organic revenue climbed 3 percent. Net income increased 18 percent to $1.4 billion, $1.58 earnings per share (EPS), from $1.2 billion…

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