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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 -0.35% 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 +0.03% has gained 10.9%.

/zigman2/quotes/203226062/composite
US : U.S.: NYSE
$ 200.31
-0.70 -0.35%
Volume: 1.37M
Sept. 18, 2019 6:30p
P/E Ratio
18.45
Dividend Yield
1.88%
Market Cap
$55.98 billion
Rev. per Employee
$403,851
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/zigman2/quotes/210599714/realtime
US : S&P US
3,006.73
+1.03 +0.03%
Volume: 1.71B
Sept. 18, 2019 5:35p
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