Shares of industrial aerospace company United Technologies were rising in trading Tuesday after the company reported third-quarter results that topped estimates and also raised its full year guidance.
The company reported adjusted earnings of $2.21 a share, up 15% from the previous year, while revenue rose 18% year over year to $19.5 billion. Analysts were expecting the company to report earnings of $2.03 a share on revenue of $19.3 billion.
"Looking ahead, our transformational merger with Raytheon Company, which was overwhelmingly approved by both companies' shareowners this month, positions Raytheon Technologies as a premier aerospace and defense systems provider and a leader in high technology segments," said CEO Gregory Hayes.
United Technologies said it now expects a full year adjusted EPS between $8.05 and $8.15, up from its previous view between $7.90 and $8.05 per share. Revenue is expected to come in between $76 billion and $76.5 billion, up from its previous view between $75 billion and $77 billion.
Analysts are expecting the company to earn $8.03 a share for the full year on revenue of $76.97 billion.
United Technologies climbed 1.7% to $140.69 Tuesday.
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