CHARLOTTE, N.C. (AP) — Aerospace manufacturer Goodrich Corp. said Thursday its third-quarter profit jumped 26 percent, boosted by a steep jump in sales to companies that make large commercial aircraft.
Goodrich earned $201.1 million, or $1.57 per share, up from $160.2 million, or $1.25 per share, for the same quarter last year.
Sales rose 16 percent to $2.03 billion from $1.75 billion on double-digit increases in sales to commercial aircraft makers.
The recent quarter’s results included 13 cents in charges related to United Technologies Corp.’s planned acquisition of the company. Excluding those charges, the company posted an adjusted profit of $1.70 per share.
Analysts, on average, expected a profit of $1.51 per share on $2.07 billion in revenue, according to a FactSet poll.
Sales to companies that make large commercial airplanes jumped 23 percent. Goodrich said demand for the planes continues to grow and it expects that market to increase more than 15 percent this year.
Meanwhile, regional, business and general aviation airplane original equipment sales jumped 47 percent, largely as a result of new business, while commercial aftermarket sales grew about 13 percent.
Defense and space sales of both original equipment and aftermarket parts and services rose about 9 percent.
The company also narrowed its full-year adjusted profit prediction to a range of $5.90 to $6 per share, from its previous prediction of $5.85 to $6 per share. It backed its previous sales guidance of $8.1 billion.
Analysts polled by FactSet expect a 2011 profit of $6 per share on $8.1 billion in sales.
Goodrich shares rose 7 cents to $122.57.