United Technologies Corp reported better-than-expected quarterly earnings and ra...
) reported better-than-expected quarterly earnings and raised its full-year sales and profit forecasts on Tuesday, driven by an increase in demand for aircraft parts and spares.
UTC, which makes the Pratt & Whitney aircraft engines and is on track to spin off its Otis elevator and Carrier air conditioner units, is seeking to bolster its defense offering amid rising U.S. government spending. UTC said sales in its Collins aerospace unit, its biggest, surged about 66% percent to $6.58 billion in the second quarter, benefiting from the acquisition of aero parts maker Rockwell Collins. A growing fleet of aircraft also lifted demand for spare parts.
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