United Technologies Profit Rises on Helicopter Delay
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United Technologies Corp.’s fourth-quarter earnings beat analysts’ estimates thanks to a last-minute deal with Canada to delay delivery of eight military helicopters that would have resulted in losses.
Postponing the handover of the unprofitable aircraft produced a benefit of 6 cents a share, the company said today in a statement. Earnings from continuing operations rose 53 percent to $1.45 billion, or $1.58 a share, topping the $1.53 average estimate among 21 analysts surveyed by Bloomberg.