United Technologies Corp. says its purchase of aircrafts parts maker Goodrich Corp. will drive revenue growth next year, helping overcome Europe's weak economy and less U.S. defense spending.
The parent of jet engine maker Pratt & Whitney, Otis elevator and other companies tightened its 2012 profit outlook Thursday to $5.32 per share, from a previous range of $5.25 to $5.35, matching Wall Street expectations. The conglomerate, based in Hartford, Conn., maintained its $58 billion revenue guidance.
United Technologies to make $5.85 to $6.15 per share on revenue of $64 billion to $65 billion next year. Analysts expect $6.15 per share on revenue of $66.13 billion.
CEO Louis Chenevert told analysts at the company's annual outlook meeting Thursday that changes to United Technologies' portfolio will propel revenue growth.
Explore further: IBM posts lower 1Q earnings amid hardware slump