FARMINGTON, Conn. - For the second quarter of 2017, United Technologies Corp (UTC) reported sales of $15.3 billion, up almost 3 percent from sales of $14.9 billion in the second quarter of 2016. was $1.4 billion, up 1 percent versus the prior year.
"United Technologies delivered another quarter of strong results with sales up 3 percent including 3 percent organic sales growth and robust cash flow," said UTC Chairman and Chief Executive Officer Gregory Hayes. "Our performance is in-line with our expectations as we continue to execute on our strategic priorities, including growing the business through our investments in innovative products and services, delivering on our aerospace backlog, and achieving our cost reduction goals, while maintaining a disciplined approach to capital allocation."
In the quarter, new equipment orders at Otis were flat versus the prior year and increased by 11 percent organically at UTC Climate, Controls & Security, each at constant currency. Commercial aftermarket sales were up 4 percent at Pratt & Whitney and were up 7 percent at UTC Aerospace Systems.
AEROSPACE INDUSTRY SEGMENTS
Pratt & Whitney reported sales of $4.1 billion for the second quarter of 2017, up 7 percent from $3.7 billion in the same period a year ago. Operating income for the quarter was $402 million, compared to $386 million in 2Q16.
UTC Aerospace Systems posted sales of $3.6 billion, down 2 percent from sales of $2.7 billion in the second quarter of 2016. Net income for the period was $579 billion, down from $582 million a year ago.
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