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Acquisition Lifts UTC’s Sales As Earnings Top Estimates

Defense Daily Staff Defense Daily Staff
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United Technologies Corp. [UTX] yesterday reported lower earnings from continuing operations that still topped consensus estimates while sales increased to due an acquisition during the summer of an interest in an aircraft engine company. Earnings from continuing operations in the third quarter were $1.3 billion, $1.37 earnings per share (EPS), versus $1.4 billion ($1.43 EPS) a year ago. Analysts estimated that earnings would be $1.19 per share. Free cash flow in the quarter was $1.3 billion. Earnings were dampened by…

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