United Technologies Corporation (NYSE:UTX) reported third quarter 2009 earnings per share of $1.14 and net income attributable to common shareowners of $1.1 billion, down 14% and 17%, respectively, from the year ago quarter. This was ahead of the Zacks Consensus Estimate of $1.12.
Revenues for the quarter at $13.4 billion were 11% below prior year including organic decline (7%) and adverse foreign currency translation (3%). Segment operating margin at 14.5% was 20 basis points higher than the prior year.
Cash flow from operations less capital expenditures was 160% of net income attributable to common shareowners on significant inventory reductions across both commercial and aerospace businesses. Cash flow from operations was $1.9 billion, including $150 million of domestic pension