Bulletin
Investor Alert

Market Pulse Archives

July 28, 2020, 7:17 a.m. EDT

Raytheon Technologies stock jumps after profit and sales beat expectations

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Raytheon Technologies Corp. (RTX)
  • X
    Dow Jones Industrial Average (DJIA)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Raytheon Technologies Corp. /zigman2/quotes/203237915/composite RTX -0.73% rallied 2.3% in premarket trading Tuesday, after the aerospace and defense company reported second-quarter profit and revenue that beat expectations, as a "good performance" in its defense business offset challenges in commercial aerospace. The company swung to a net loss of $3.84 billion, or $2.55 a share, from net income of $1.90 billion, or $2.20 a share, in the year-ago period. Excluding non-recurring items, such as one-time charges and acquisition accounting adjustments, adjusted earnings per share came to 40 cents, above the FactSet consensus of 13 cents. Sales rose 24% to $14.06 billion, above the FactSet consensus of $13.46 billion. Among Raytheon's business segments, Collins Aerospace sales fell 36% to $4.20 billion, above the FactSet consensus of $3.56 billion; Pratt & Whitney sales dropped 32% to $3.49 billion but beat expectations of $3.25 billion; Raytheon Missiles & Defense sales were $3.59 billion to miss expectations of $3.90 billion; and Raytheon Intelligence & Space sales were $3.31 billion to miss expectations of $3.54 billion. The stock has tumbled 30.8% year to date through Monday, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.88% has declined 6.9%.

/zigman2/quotes/203237915/composite
US : U.S.: NYSE
$ 62.35
-0.46 -0.73%
Volume: 16.81M
Sept. 18, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
3.05%
Market Cap
$95.25 billion
Rev. per Employee
$277,021
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,657.42
-244.56 -0.88%
Volume: 703.89M
Sept. 18, 2020 5:15p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.