Summary Box: United Technologies 2Q results benefit from improving aerospace markets
By APWednesday, July 21, 2010
Summary Box: United Tech posts higher 2Q profit
WHAT IT DID: United Technologies Corp. posted a $1.11 billion profit in the second quarter, citing improvements in its aerospace and refrigerated transportation markets.
HOW IT DID IT: The parent company of jet engine maker Pratt & Whitney, Otis elevator, Sikorsky Aircraft and other businesses said orders rose at Otis and Pratt & Whitney spare parts. In addition, at its Carrier unit, revenue rose slightly and profit surged due to improving orders for commercial heating and ventilating equipment and refrigerated transportation. United Technologies also is experiencing the benefits of restructuring and other changes at Carrier.
WHAT IT EXPECTS: United Technologies increased its earnings guidance for the year, to a range of $4.60 per share and $4.70, up from $4.50 per share to $4.65.
