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Raytheon (RTN) Beats on Q1 Earnings and Revenue Estimates

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Raytheon Company is the world’s largest missile manufacturer. It is one of the largest aerospace and defense companies in the U.S. with a diversified line of military products including missiles, radars, sensors, surveillance and reconnaissance equipment, communication and information systems, naval systems, air traffic control systems, and technical services.

Currently, Raytheon has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Raytheon delivered positive earnings surprise in the last four quarters with an average beat of 4.58%.

The key takeaways from this immediate announcement are highlighted below:

Earnings: Raytheon beat on earnings expectations. Our consensus called for EPS of $1.73, and the company reported adjusted EPS of $1.61.

Revenue: The company surpassed revenue expectations. Raytheon posted revenues of $6,000 million, compared to our consensus estimate of $5,843 million.

Key Stats to Note: Bookings fell 8.3% year over year during the quarter to $5,688 million. Backlog at the end of the first quarter was $36.1 billion, up from $34.2 billion in the year-ago quarter.

Raytheon Company Price and EPS Surprise

 

Raytheon Company Price and EPS Surprise | Raytheon Company Quote

Check back later for our full write up on this Raytheon earnings report later!

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