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United Technologies Corp. beat analysts' first-quarter profit estimates as the aerospace and building systems manufacturer trimmed costs amid global economic headwinds.
Adjusted earnings were $1.47 a share, United Technologies said Wednesday in a statement. That compared with the $1.40 average of 17 forecasts compiled by Bloomberg. Sales of $13.4 billion topped analysts' average prediction of $13.2 billion.
Chief Executive Gregory Hayes is under pressure to drive growth after rejecting a $90 billion offer in February to merge with rival Honeywell International Inc.
United Technologies is looking to overcome heavy product-development costs, a slowdown in the Otis elevator business in China and a strong dollar that has weighed on international sales.
Hayes has made smaller moves to reshape the Farmington, Connecticut-based company's portfolio since taking the helm in late 2014, including a deal last year to unload the Sikorsky helicopter unit.