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.

Most Popular

Stock Watch: Is Darden Restaurants a good buy after earnings?

After a prolonged slowdown, the restaurant industry is returning to normal patterns but macroeconomic uncertainties and high inflation are currently playing spoilsport for it. While the pandemic-related slump forced many

Lennar (LEN) believes that despite near-term challenges, the long-term prospects for housing remain strong

Shares of Lennar Corporation (NYSE: LEN) were down 3% on Monday. The stock has dropped 36% year-to-date and 25% over the past 12 months. The homebuilder delivered mixed results for

KB Home (KBH): What did and did not work for the homebuilder in the third quarter

Shares of KB Home (NYSE: KBH) were up slightly on Friday. The stock has dropped 40% year-to-date and 35% over the past 12 months. The company delivered mixed results for

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top