Raytheon raises lower end of full-year sales forecast (updated)

US Aerospace

27/04/2021 12:16

(Adds revenue, net income)
    April 27 (Reuters) - U.S. aerospace manufacturer Raytheon
Technologies Corp  RTX.N  on Tuesday raised the lower end of its
full-year sales forecast on strong performance of its defense
unit and recovery in commercial air travel.
    While demand for Raytheon's aviation technologies and
service for aircraft manufacturers slumped during the global
health crisis, its robust defense unit that contributes to more
than half of the overall sales, continues to lift its
bottomline.
    The company now expects between $63.9 billion and $65.4
billion in full-year sales, compared with its previous forecast
of $63.4 billion to $65.4 billion.
    "With our strong defense backlog and continued recovery in
commercial air travel, we are well positioned to deliver
profitable growth and return cash to drive significant value for
shareowners," Chief Executive Officer Greg Hayes said. 
    Net income attributable to common shareowners was $753
million, or 50 cents per share, in the quarter ended March 31,
from a loss of $83 million, or 10 cents per share, a year
earlier.
     Revenue rose to $15.25 billion from $11.36 billion.

 (Reporting by Shreyasee Raj in Bengaluru; Editing by Shailesh
Kuber)
 ((Shreyasee.Raj@thomsonreuters.com;))