Categories Earnings, Industrials

Raytheon (NYSE: RTN): Q4 2019 Earnings Snapshot

— Raytheon Company (NYSE: RTN) reported its fourth-quarter 2019 earnings of $3.16 per share versus $3.12 per share expected.

— Net sales increased by 6.5% to $7.84 billion versus $8 billion expected.

— Integrated Defense Systems sales increased by 18% primarily driven by higher net sales on an international air and missile defense system program awarded in the third quarter of 2019 and an international missile defense radar program.

— Intelligence, Information, and Services sales rose by 2% primarily driven by higher net sales on classified programs in both cyber and space.

— Missile Systems sales rose by 1% primarily due to higher net sales on classified programs. Forcepoint sales rose by 3% year-over-year.

— Space and Airborne Systems sales grew by 7% helped by higher net sales on classified programs, the Next Generation Overhead Persistent Infrared program, and tactical communication systems programs.

— The company had record bookings of $12.1 billion in the fourth quarter of 2019, resulting in a book-to-bill ratio of 1.54. Fourth-quarter 2018 bookings were $8.4 billion.

— Backlog at the end of 2019 was a record $48.8 billion, an increase of $6.3 billion or 15 percent compared to the end of 2018.

— The previously announced merger with United Technologies (NYSE: UTX) is targeted to close early in the second quarter of 2020. This is subject to be the completion by United Technologies of the separation of its Otis and Carrier businesses.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Also Read:  Apogee Enterprises Inc (APOG) Q2 2021 Earnings Call Transcript

Most Popular

What awaits Herman Miller (MLHR) beyond the home-office rush?

Herman Miller Inc. (NASDAQ: MLHR) is one of the few Wall Street firms that managed to take advantage of the opportunities created by the pandemic, after being hit by the

Cognizant’s (CTSH) buying spree in 2020

Cognizant Technology Solutions (NASDAQ: CTSH) has been on a buying spree in 2020. The portfolio of the acquisitions that Cognizant made this year is expected to help the company in

Major earnings conferences to watch for the week of Sept. 21

After registering a slow recovery in the first half of the week, the markets pared these gains on Thursday and Friday. The weakness witnessed in the latter half of the

Top