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Raytheon Technologies Corporation Q2 Profit Beats Estimates; Confirms Annual Outlook - Update

(Adds annual Outlook)

Raytheon Technologies Corporation (RTX) revealed earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $1.30 billion, or $0.88 per share. This compares with $1.03 billion, or $0.68 per share, in last year's second quarter.

Excluding items, Raytheon Technologies Corporation reported adjusted earnings of $1.72 billion or $1.16 per share for the period.

Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.7% to $16.31 billion from $15.88 billion last year.

Outlook:

Looking forward, the company has confirmed its full-year sales outlook in the range of $67.75 - $68.75 billion and adjusted EPS guidance in the range of $4.60 - $4.80.

Analysts polled by Thomson-Reuters expect the company to report earnings of $4.77 per share on revenue of $68.3 billion for the year.

Raytheon Technologies Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $1.30 Bln. vs. $1.03 Bln. last year.
-EPS (Q2): $0.88 vs. $0.68 last year.
-Analyst Estimate: $1.12
-Revenue (Q2): $16.31 Bln vs. $15.88 Bln last year.

-Guidance:
Full year EPS guidance: $4.60 - $4.80
Full year revenue guidance: $67.75 - $68.75 Bln

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