Raytheon 3Q Sales Rise on Higher Aerospace Demand
October 26 2021 - 7:45AM
Dow Jones News
By Matt Grossman
Raytheon Technologies Corp. Tuesday posted greater third-quarter
sales and earnings year over year as its aerospace divisions logged
revenue growth.
The Waltham, Mass.-based aerospace and defense company posted
third-quarter net earnings attributable to shareholders of 93 cents
a share, compared with 17 cents a share in the year-ago quarter.
Total net income was $1.39 billion, a rise from $264 million 12
months earlier.
Stripping out one-time items, Raytheon's adjusted earnings were
$1.26 a share. Analysts polled by FactSet had forecast adjusted
earnings of $1.09 a share.
Sales grew 10% year over year to $16.21 billion, from $14.75
billion in last year's third quarter. Analysts were expecting
revenue of $16.4 billion.
Revenue in Raytheon's Collins Aerospace segment grew by 7% to
$4.59 billion, driven by a 38% rise in commercial after-market
sales. The Pratt & Whitney aircraft-engine division saw sales
grow 25% year over year to $4.73 billion.
Intelligence and space sales were roughly flat year over year at
$3.74 billion. Missiles and defense sales were up by 5% to $3.9
billion.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
October 26, 2021 07:30 ET (11:30 GMT)
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