posted a solid second quarter and reaffirmed full-year guidance.
The Hartford, Conn., industrial conglomerate made $971 million, or 95 cents a share, in the quarter ended June 30, up from the year-ago $817 million, or 81 cents a share. Latest-quarter earnings beat the Wall Street analyst consensus estimate by a penny after subtracting out 9 cents' worth of one-time gains.
Revenue surged to $11.15 billion from the year-ago $9.62 billion, easing past the $10.93 billion Thomson First Call analyst consensus estimate.
The company also guided to full-year earnings of $3-$3.07 a share, and matching cash flow less capital spending. The earnings figure is in line with the Wall Street estimate.
"This is another strong quarter for UTC," said CEO George David. "We had solid revenue and double digit operating profit improvements in five of our six businesses. Carrier's operating profit was down slightly in the quarter as a result of weaker North American and European residential HVAC markets and continued commodity cost pressures."
On Wednesday, shares of United Technologies were flat at $51.85.