Raytheon Technologies Boosts FY22 Adj. EPS Outlook

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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