United Technologies on Tuesday raised its full-year sales and profit forecasts, ...
) on Tuesday raised its full-year sales and profit forecasts, aided by an increase in demand for its aircraft maintenance parts and services as airlines grapple with overworked planes due to the grounding of Boeing’s MAX jets.
UTC is among the first aero parts supplier to signal gains from the Boeing groundings, which has otherwise rattled the aerospace sector as more than 300 737 MAX passenger planes have been taken out of service, leaving several airlines to deal with thousands of flight cancellations and reschedules. UTC said sales in its Collins aerospace unit, which makes engine components, landing gear, wheels and brakes, and interior and exterior aircraft lighting, surged about 66% percent to $6.58 billion in the second quarter.
UTC said it expects its acquisition of Rockwell to add an extra $150 million sales and 15 cents per share to its profit in 2019.
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