LONDON (ShareCast) - In too many instances US earnings updates for the third quarter have disappointed today, as global growth concerns appeared to come home to roost, with companies scaling back profit guidance for the full year.

United Technologies, the maker of Pratt & Whitney aircraft engines, has reduced its full year guidance on revenues to $58bn, down from $58bn-$59bn although it did confirm its earnings guidance, saying it expects earnings per share of $5.25 to $5.35 for 2012. For the third quarter results in terms of earnings per share came in at $1.37, with net income left standing at $1.2bn, these were down 4% and 3%, respectively.

The company blamed the lack of a recovery in the commercial aerospace aftermarket and continued uncertainty in the global economy for the prospective dip in full year sales.

Consensus figures for full year earnings per share (EPS), excluding extraordinary items, were $5.29.

3M delivered sticky prospects for the full year as part of a third quarter update. Sales for the year to date were $7.5bn, down 0.4% on the previous nine month period.

The company now expect full year earnings to be range of $6.27-$6.35 per share, including $0.03 of anticipated acquisition-related costs. 3M previously expected a range of $6.35 to $6.50 per share, which did not include acquisition-related costs.

It didn’t dwell on the “current slow-growth economy”, promising to “remain focused on things within our control”.

Consensus figures for full year had projected EPS as $6.42.

Xerox Corp copied the disappointment of others with a third quarter update showing revenues down by 3% at $5.4bn for quarter, which it blamed on “current macro and political conditions.”

It also plans to take a fourth quarter restructuring charge of $50m to £100m. Until the plans are finalised the company’s EPS guidance excludes this charge. Fourth quarter adjusted earnings of 33 cents to 35 cents a share are expected and as a result full year EPS is expected to be $1.07-$1.09. Consensus figures for full year EPS was $1.08

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