- United Technologies posted better-than-expected quarterly earnings and revenue.
- The company reaffirmed 2017 expectations for adjusted EPS of $6.30 to $6.60 on sales of $57.5 billion to $59 billion.
- Shares of United Technologies rose nearly 1 percent immediately following the report.
United Technologies, the maker of Otis Elevators, Pratt & Whitney aircraft engines and Carrier air conditioners, beat analyst expectations with a 17.8 percent rise in first-quarter profit, helped by higher sales in all four of its business units.
United Tech's net income attributable to common shareholders rose to $1.39 billion in the first quarter ended March 31, from $1.18 billion a year earlier. The company affirmed its earnings forecast for the full-year.
Earnings per share attributable to common shareholders rose to $1.73 from $1.42, including a one-time gain of 25 cents.
Excluding the gain, earnings rose to $1.48 a share, compared with analyst consensus estimates of $1.39 a share, according to Thomson Reuters I/B/E/S.
The company's net sales rose 3.4 percent to $13.82 billion.
United Tech's shares were up 0.8 percent at $117.80 in premarket trading.