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United Technologies earnings barely beat

Reuters with
Visitors look at a PurePower PW1500 aircraft engine manufactured by Pratt & Whitney, a unit of United Technologies Corp.
Chris Ratcliffe | Bloomberg | Getty Images

United Technologies, the world's largest maker of elevators and air conditioners, raised the low end of its 2013 profit forecast on Tuesday, citing cost savings from restructuring and improving sales trends.

But the diversified manufacturer, which also produces Pratt & Whitney jet engines and Black Hawk helicopters, cut its projection for full-year revenue to roughly $63 billion from $64 billion.

The company said third-quarter net income rose to $1.43 billion, or $1.57 per share, from $1.42 billion, or $1.56 per share, a year earlier, including discontinued operations.

Earnings from continuing operations increased to $1.55 per share from $1.37, topping the analysts' average estimate by a penny, according to Thomson Reuters.

Revenue rose 2.8 percent to $15.46 billion.

United Tech now expects full-year earnings of $6.10 to $6.15 per share, raising the low end from $6.

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—By Reuters with