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UTC Delivers Strong Sales, Profits In Fourth Quarter, Full Year

Cal Biesecker By
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UTC Delivers Strong Sales, Profits In Fourth Quarter, Full Year
Raytheon Technologies Chairman and CEO Greg Hayes. Photo: Raytheon Technologies

United Technologies Corp. [UTX] on Wednesday posted higher sales and earnings in the fourth quarter driven by strong organic growth at Pratt & Whitney and Collins Aerospace and strong operating profit in its climate control business. UTC’s earnings were also aided by a lower than expected tax rate in the fourth quarter. Net income in the quarter increased 73 percent to $686 million, 83 cents earnings per share (EPS), from $397 million (50 cents EPS) a year ago, driven primarily…

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