United Technologies (UTX) - Get United Technologies Corporation Report rose Tuesday after the industrial giant posted first-quarter earnings and sales that topped analysts' forecasts, and lifted the low end of profit guidance for 2019.
The company earned $1.91 a share in the quarter on an adjusted basis, beating forecasts by 20 cents. Revenue of $18.37 billion topped estimates of $18 billion.
United Technologies said Tuesday it expects adjusted earnings in 2019 of $7.80 to $8 a share, with the low end higher than previous guidance of $7.70 to $8.
The company said it expects revenue in 2019 of $75.5 billion to $77 billion.
"United Technologies is off to a strong start in 2019," said Chairman and CEO Gregory Hayes. "Sales were up 20% with all four businesses contributing to the robust 8% organic growth in the quarter."
The stock rose 2.8% to $140.79 in trading on Tuesday.