Investing.com - U.S. multinational conglomerate United Technologies (NYSE:UTX) reported better-than-expected third quarter earnings and revenue ahead of Tuesday’s opening bell.
United Technologies said earnings per share came in at $2.04, easily surpassing expectations for earnings of $1.81 per share.
Results for the current quarter include $0.22 per share of favorable one-time items net of restructuring costs.
The company’s revenue totaled $16.17 billion in the three months ending September 30, above forecasts for revenue of $16.0 billion.
"UTC delivered another quarter of solid performance," said Louis Chênevert, UTC Chairman & Chief Executive Officer.
"Along with strong margin expansion and a fifth consecutive quarter of organic sales growth, we've seen increased demand for our integrated building solutions and revenue synergy opportunities for our Building & Industrial Systems businesses," added Chenevert.
Immediately after the earnings announcement, UTX shares rose 0.6% in trading prior to the opening bell.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow futures indicated a gain of 0.7% at the open, the S&P 500 futures pointed to a rise of 0.8%, while Nasdaq 100 futures tacked on 0.9%.