{"id":2872,"date":"2018-10-23T08:43:32","date_gmt":"2018-10-23T13:43:32","guid":{"rendered":"http:\/\/planesintheair.com\/?p=2872"},"modified":"2018-10-23T08:43:32","modified_gmt":"2018-10-23T13:43:32","slug":"utc-beats-profit-estimates-on-airplane-boom","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=2872","title":{"rendered":"UTC Beats Profit Estimates On Airplane Boom"},"content":{"rendered":"<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\"><span style=\"font-family: Tahoma, Arial, Helvetica, sans-serif;\">(Reuters) &#8211; United Technologies Corp reported a better-than-expected quarterly profit and raised its full-year profit forecast on Tuesday as it benefited from higher sales of aircraft parts, driven by record production at planemakers Boeing and Airbus.<\/span><\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\"><span style=\"font-family: Tahoma, Arial, Helvetica, sans-serif;\">A boom in air travel on the back of an improving global economy has boosted profits at major suppliers United Tech and Honeywell.<\/span><\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\"><span style=\"font-family: Tahoma, Arial, Helvetica, sans-serif;\">United Tech said sales in its Pratt &amp; Whitney aircraft engines business jumped about 24 percent to $4.79 billion in the third quarter ended Sept. 30.<\/span><\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\"><span style=\"font-family: Tahoma, Arial, Helvetica, sans-serif;\">Revenue at the company&#8217;s aerospace systems unit, which provides spare parts, overhaul and repair services to airlines, increased 8.7 percent to $3.96 billion.<\/span><\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\"><span style=\"font-family: Tahoma, Arial, Helvetica, sans-serif;\">The maker of Carrier air conditioners and Otis elevators also raised its 2018 adjusted profit forecast for the third time to a range of $7.20 and $7.30, up from $7.10 and $7.25, previously.<\/span><\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\"><span style=\"font-family: Tahoma, Arial, Helvetica, sans-serif;\">On an adjusted basis, the company earned $1.93 per share, beating analysts&#8217; average estimate of $1.81 per share, according to Refinitiv.<\/span><\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\"><span style=\"font-family: Tahoma, Arial, Helvetica, sans-serif;\">Net sales rose 9.6 percent to $16.51 billion.<\/span><\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\"><span style=\"font-family: Tahoma, Arial, Helvetica, sans-serif;\">(Reporting by Ankit Ajmera in Bengaluru; Editing by Saumyadeb Chakrabarty)<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-2873\" src=\"https:\/\/planesintheair.com\/wp-content\/uploads\/2018\/10\/utx-300x176.jpg\" alt=\"\" width=\"827\" height=\"485\" srcset=\"https:\/\/planesintheair.com\/wp-content\/uploads\/2018\/10\/utx-300x176.jpg 300w, https:\/\/planesintheair.com\/wp-content\/uploads\/2018\/10\/utx.jpg 571w\" sizes=\"auto, (max-width: 827px) 100vw, 827px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; United Technologies Corp reported a better-than-expected quarterly profit and raised its full-year profit forecast on Tuesday as it benefited from higher sales of aircraft parts, driven by record production at planemakers Boeing and Airbus. A boom in air travel on the back of an improving global economy has boosted profits at major suppliers United Tech and Honeywell. United Tech said sales in its Pratt &#038; Whitney aircraft engines business jumped about 24 percent to $4.79 billion in the third quarter ended Sept. 30<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89,1397,868],"tags":[167,1959,47,464,118,41,988,1925,1780,961,1961,335,163,412,1960,1958,1263,959,1288,1149,1522,162,164],"class_list":["post-2872","post","type-post","status-publish","format-standard","hentry","category-aviation-news","category-stock-news","category-transportation-news","tag-aerospace","tag-air-conditioner","tag-airbus","tag-aircraft","tag-airlines","tag-boeing","tag-business","tag-carrier","tag-corp","tag-earnings","tag-elevator","tag-engine","tag-honeywell","tag-news","tag-otis","tag-parts","tag-pratt-whitney","tag-quarterly","tag-reuters","tag-systems","tag-unit","tag-united-technologies","tag-utx"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/2872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2872"}],"version-history":[{"count":1,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/2872\/revisions"}],"predecessor-version":[{"id":2874,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/2872\/revisions\/2874"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}