Raytheon posts better-than-expected profit and sales, shares jump (updated)

US Aerospace

26/01/2021 12:32

(Adds details on earnings per share, cash flow)
    WASHINGTON, Jan 26 (Reuters) - U.S. aerospace manufacturer
Raytheon Technologies Corp  RTX.N  reported better than expected
quarterly profit and sales  Tuesday amid a slow global economic
environment triggered by disruptions from the COVID-19 pandemic.
    Shares of the company rose 2.6% in premarket trading.
    However, the company provided a full-year revenue outlook of
about $63.4 billion to $65.4 billion which was below analysts'
estimate of revenue of about $67.28 billion.
    Still, the Waltham, Massachusetts-based company said it now
expects full-year earnings per share to be in the range of $3.40
per share to $3.70 per share, beating analysts' average
expectation of $3.47 per share, according to IBES data from
Refinitiv.
    Raytheon beat its 2020 cash flow guidance of about $2
billion for the full 2020 by posting $2.3 billion on Tuesday 
thanks to stability in its defense unit that contributes to more
than half of the company's overall sales.

 (Reporting by Mike Stone, editing by Louise Heavens and Chizu
Nomiyama)
 ((mike.stone1@thomsonreuters.com; https://twitter.com/MichaelStone;
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