United Technologies Corp. (NYSE: UTX) reported second-quarter 2018 results before markets opened Tuesday morning. The industrial conglomerate posted adjusted diluted earnings per share (EPS) of $1.97 on revenues of $16.7 billion. In the same period a year ago, the company reported EPS of $1.85 per share on revenues of $15.3 billion. Second-quarter results also compare to consensus estimates for EPS of $1.85 and $16.27 billion in revenues.

Excluded from the adjusted EPS calculation are $0.59 in restructuring and other significant charges for the quarter, including a one-time gain on the sale of Taylor Company. GAAP EPS for the quarter totaled $2.56.

The company updated its full-year outlook, raising its adjusted EPS forecast from a range of $6.95 to $7.15 to a new range of $7.10 to $7.25, excluding the effect of Lockheed’s acquisition of Rockwell Collins. The company expects dilution of $0.10 to $0.15 as a result of the acquisition.

Lockheed also raised the lower end of its revenue guidance from $63.0 billion to $63.5 billion. The upper end of the range remains at $64.5 billion. The estimate for free cash flow remains at $4.5 billion to $5.0 billion.

Boosting guidance typically pays dividends for a company’s shares, and UTC’s boost is no exception. The company has reportedly submitted a proposal to fellow Dow component Boeing to provide the engines for Boeing’s proposed new midmarket airplane (aka, NMA or 797). The aircraft maker, which reports second-quarter results tomorrow morning, may be wavering on going ahead with that new plane, however.

The consensus analyst estimate for UTC’s full-year revenue is $64.12 billion, and adjusted EPS is expected to reach $7.13. For the third quarter, analysts are looking for $1.83 in EPS and revenue of $16.17 billion.

CEO Greg Hayes said:

This was our fourth consecutive quarter of delivering organic sales growth of 5 percent or better, which is a result of our investments in innovation across the portfolio. Earnings and free cash flow were also strong in the quarter.

Quarterly sales rose in all four of UTC’s segments, with operating profit in the company’s Pratt & Whitney segment rising from $364 million in the second quarter of 2017 to $397 million. Operating profit in the climate, controls and security segment nearly doubled to $1.65 billion.

In Tuesday’s premarket session shares, traded up about 2.4%, at $132.50 in a 52-week range of $109.10 to $139.24. The 12-month consensus price target on the stock was $150.18 before this morning’s report. The Dow Jones industrial average got a 20-point boost shortly after UTC’s results were released.

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