10/26/2021, 1:01 PM (Source: TeleTrader)
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Raytheon Tech Q3 sales soar 10% to $16.21 billion

Raytheon Technologies Corp. published its third-quarter earnings results on Tuesday, revealing that its revenue annually surged 10% to reach $16.21 billion. The company's net income skyrocketed from $151 million to $1.4 billion in the same period, with earnings per share hitting $0.93.

"Our performance this quarter clearly demonstrates our ability to capitalize on the increased demand across our commercial aerospace and defense businesses, and our intense focus on cost reduction and operational execution," CEO Greg Hayes noted in the report.

Raytheon said that it now expects yearly sales of around $64.5 billion, similarly to the previous forecast. However, adjusted earnings per share were revised up to between $4.10 and $4.20, with free cash flow estimated at about $5 billion - the upper mark of the original forecast.

Baha Breaking the News (BBN) / ND