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Business/Financial

UTC Posts Strong Third Quarter Results

By Cal Biesecker

Tuesday, October 21st, 2014

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UTC Posts Strong Third Quarter Results

S-97 Raider Prototype Photo: Sikorsky Aircraft Corp.

United Technologies [UTX] on Tuesday reported a strong increase in net earnings driven by tax benefits, higher segment operating profits and lower restructuring costs while sales increased on strength across its business segments. Net income jumped 31 percent to $1.9 billion, $2.04 earnings per share (EPS), from $1.4 billion ($1.55 EPS), topping consensus estimates of $1.81 EPS. Sales increased 5 percent to $16.2 billion from $15.5 billion, with all of the growth organic. All five of UTC’s operating segments contributed…

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