United Technologies was forced to put the brakes on expectations for this year’s profits after soaring hopes of installing air-conditioning and Otis lifts in Chinese skyscrapers were brought down to earth by a slowing economy.
The cut in the forecast for full-year earnings per share — from between $6.55 and $6.85 down to a range of $6.45 to $6.60 — came a day after the group announced a deal to sell its Sikorsky helicopter business for $9bn to Lockheed Martin.
Sikorsy’s earnings are included in the forecast, but not an expected gain from the sale.
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