While reporting financial results for the third quarter on Tuesday, aerospace and defense company Raytheon Technologies Corp. (RTX) raised its adjusted earnings outlook for the full-year 2022, while trimming annual revenue guidance.
For fiscal 2022, the company now projects adjusted earnings in a range of $4.70 to $4.80 per share on sales between $67.0 billion and $67.3 billion.
Previously, the company expected adjusted earnings in the range of $4.60 to $4.80 per share on sales between $67.75 billion and $68.75 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.68 per share on sales of $67.59 billion for the year. Analysts' estimates typically exclude special items.
For the third quarter, net income was $1.39 billion or $0.94 per share, compared to $1.40 billion or $0.93 per share in the prior-year quarter. Excluding items, adjusted earnings were $1.21 per share, compared to $1.26 per share last year.
Sales for the quarter grew 5 percent to $16.95 billion from $16.21 billion in the same quarter last year.
The Street was looking for earnings of $1.14 per share on sales of $17.23 billion for the quarter.
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