United Technologies Corp, which agreed on Monday to sell its Sikorsky helicopter business, cut its full-year profit outlook on Tuesday as it warned of pressures in its aerospace systems and Otis elevators businesses.

United Tech on Monday said it would sell its Sikorsky helicopter unit to Lockheed Martin Inc for $9 billion, after saying in June it planned to exit the business following a strategic review.

Excluding Sikorsky, United Tech now expects earnings from continuing operations in a range of $6.15 to $6.30 per share this year, down from the prior range of $6.35 to $6.55 per share.

The company said the commercial aftermarket for its UTC Aerospace Systems business will be “significantly below” expectations. It also cited struggles for its Otis elevators business in Europe and China.

“While this revised forecast is disappointing, we remain confident in our long term outlook for the business,” United Tech Chief Executive Greg Hayes said in a statement.

Following United Tech’s earnings announcement, the company’s shares dropped 3.4 percent to $106.68 in pre-market trading.

The company already twice this year had trimmed its 2015 outlook.

The U.S conglomerate said that second-quarter net income fell to $1.54 billion, or $1.73 per share, from $1.68 billion, or $1.84 per share, a year ago.

Analysts were looking for $1.71 per share, according to Thomson Reuters I/B/E/S.

Sales fell 5 percent to $16.33 billion, hurt by the impact of the strong dollar on foreign sales. On an organic basis, revenue rose by 3 percent.

(Reporting by Lewis Krauskopf in New York; Editing by Chizu Nomiyama; Editing by Chizu Nomiyama)

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