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April 25, 2019, 7:18 a.m. EDT

Raytheon shares up 1.6% premarket after topping first-quarter estimates

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By Ciara Linnane

Defense contractor Raytheon Co. shares /zigman2/quotes/203226062/composite RTN +0.07% jumped 1.6% in premarket trade Thursday, after the company beat earnings estimates for the first quarter. Waltham, Mass.-based Raytheon said it had net income of $781 million, or $2.77 a share, in the first quarter, up from $633 million, or $2.19 a share, in the year-earlier period. Adjusted per-share earnings also came to $2.77, ahead of the FactSet consensus of $2.47. Sales rose to $6.729 billion from $6.267 billion, also beating the $6.618 billion FactSet consensus. The company had bookings of $5.4 billion in the quarter, down from $6.3 billion a year ago. Its backlog stood at $41.073 billion compared with $42.420 billion a year ago. For the full year, the company is still expecting adjusted EPS of $11.40 to $11.60 and sales of $28.6 billion to $29.1 billion. The current FactSet consensus is for EPS of $11.61 and sales of $28.9 billion. Shares have fallen 13.2% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.20% has gained 10.9%.

/zigman2/quotes/203226062/composite
US : U.S.: NYSE
$ 216.00
+0.16 +0.07%
Volume: 624,291
Nov. 11, 2019 6:30p
P/E Ratio
18.48
Dividend Yield
1.75%
Market Cap
$60.15 billion
Rev. per Employee
$403,851
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/zigman2/quotes/210599714/realtime
US : S&P US
3,087.01
-6.07 -0.20%
Volume: 1.41B
Nov. 11, 2019 5:04p
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