logo
  

Raytheon Technologies Boosts FY21 Outlook - Quick Facts

While reporting financial results for the first quarter of fiscal 2021 on Tuesday, aerospace and defense company Raytheon Technologies Corp. (RTX) raised its adjusted earnings and sales outlook for the full-year 2021. The company also provided guidance for the second quarter.

The company also said its strong cash position and positive outlook allowed it to increase 2021 share buyback plan from to at least $2 billion from $1.5 billion and raise the second quarter dividend by over 7 percent.

For fiscal 2021, the company now projects adjusted earnings in a range of $3.50 to $3.70 per share on sales between $63.9 billion and $65.4 billion.

Previously, the company expected adjusted earnings in the range of $3.40 to $3.70 per share on sales between $63.4 billion and $65.4 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.76 per share on sales of $65.41 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company expects adjusted earnings in a range of $0.90 to $0.95 per share on sales between $15.5 billion and $16.0 billion. The Street is looking for earnings of $0.85 per share on sales of $15.73 billion for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The 737 MAX 10, Boeing Co.'s largest 737 Max model, is taking its maiden flight today, reports said citing people familiar with the matter. The flight after months of testing and certification will be around 10 a.m. local time from the Seattle area. The schedule could change depending on weather or other factors. Meanwhile, the jetliner is expected to enter commercial service in 2023. Medical devices supplier Smiths Medical, affiliated to Smiths Group plc, is recalling certain Jelco Hypodermic Needle-Pro Fixed Needle insulin syringes with skewed graduation markings, the U.S. Food and Drug Administration said. The recall was initiated after the company became aware of specific models and lots of Jelco insulin syringes that may exhibit skewed odd number line graduation markings. Saliva-based COVID-19 testing is rolled out as a pilot for public schools in New York City. The new two-month pilot program is being implemented in about 50 New York City public schools and utilizes Fluidigm Technology to offer RT-PCR COVID-19 testing. New York City public schools have instituted mandatory random weekly testing in all reopened school buildings to ensure safer in-person learning.
Follow RTT