We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What Awaits Raytheon Technologies (RTX) in Q3 Earnings?
Read MoreHide Full Article
Raytheon Technologies Corp. (RTX - Free Report) is set to release third-quarter 2020 results on Oct 27, before market open.
The company delivered earnings surprise of 300.00% in the last-reported quarter. The Zacks Consensus Estimate for the company’s third-quarter earnings of $2.85 remained unchanged over the past 30 days.
Factors to Note
On Apr 3, 2020, missile-maker Raytheon Company completed its merger with multinational conglomerate United Technologies to form aerospace and defense giant Raytheon Technologies. The combined company’s third-quarter results are expected to reflect the positive synergies from the merger.
Moreover, incremental cost synergies from the previous acquisition of Rockwell Collins are also projected to benefit Raytheon Technologies’ results.
Raytheon Technologies Corporation Price and EPS Surprise
While slow recovery is being observed in the aviation industry, uncertainty still prevails with respect to the overall macro environment and commercial air traffic courtesy of the lingering coronavirus impact. Therefore, adverse impacts of COVID-19 on the aerospace industry that have been affecting commercial OEM as well as commercial aftermarket sales, are expected to have once again dragged down the company’s revenues.
On the cost front, while COVID-19 induced expenses along with ongoing integration related costs have been escalating Raytheon Technologies’ quarterly expenditures, its accelerated progress in cost mitigation actions during the second quarter might have mitigated the overall pressure on third-quarter earnings.
Q3 Expectations
Currently, the Zacks Consensus Estimate for Raytheon Technologies’ earnings is pegged at 48 cents on revenues of $15.37 billion, indicating 78.3% and 21.2% decline from the respective year-ago quarter numbers, which are derived from combining the quarterly figures of legacy Raytheon and United Technologies.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Raytheon Technologies this time around. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That’s not the case here.
Earnings ESP: Raytheon Technologies has an Earnings ESP of +8.71%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).
Upcoming Releases
Here are some defense companies you may want to consider as these have the right combination of elements to post an earnings beat in their upcoming releases:
L3Harris Technologies (LHX - Free Report) has an Earnings ESP of +0.57% and a Zacks Rank #3.
A Recent Defense Release
Lockheed Martin (LMT - Free Report) reported third-quarter 2020 earnings from continuing operations of $6.25 per share, which surpassed the Zacks Consensus Estimate of $6.07 by 3%. The bottom line also improved 10.4% from the year-ago quarter’s $5.66.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >>
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
What Awaits Raytheon Technologies (RTX) in Q3 Earnings?
Raytheon Technologies Corp. (RTX - Free Report) is set to release third-quarter 2020 results on Oct 27, before market open.
The company delivered earnings surprise of 300.00% in the last-reported quarter. The Zacks Consensus Estimate for the company’s third-quarter earnings of $2.85 remained unchanged over the past 30 days.
Factors to Note
On Apr 3, 2020, missile-maker Raytheon Company completed its merger with multinational conglomerate United Technologies to form aerospace and defense giant Raytheon Technologies. The combined company’s third-quarter results are expected to reflect the positive synergies from the merger.
Moreover, incremental cost synergies from the previous acquisition of Rockwell Collins are also projected to benefit Raytheon Technologies’ results.
Raytheon Technologies Corporation Price and EPS Surprise
Raytheon Technologies Corporation price-eps-surprise | Raytheon Technologies Corporation Quote
While slow recovery is being observed in the aviation industry, uncertainty still prevails with respect to the overall macro environment and commercial air traffic courtesy of the lingering coronavirus impact. Therefore, adverse impacts of COVID-19 on the aerospace industry that have been affecting commercial OEM as well as commercial aftermarket sales, are expected to have once again dragged down the company’s revenues.
On the cost front, while COVID-19 induced expenses along with ongoing integration related costs have been escalating Raytheon Technologies’ quarterly expenditures, its accelerated progress in cost mitigation actions during the second quarter might have mitigated the overall pressure on third-quarter earnings.
Q3 Expectations
Currently, the Zacks Consensus Estimate for Raytheon Technologies’ earnings is pegged at 48 cents on revenues of $15.37 billion, indicating 78.3% and 21.2% decline from the respective year-ago quarter numbers, which are derived from combining the quarterly figures of legacy Raytheon and United Technologies.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Raytheon Technologies this time around. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That’s not the case here.
Earnings ESP: Raytheon Technologies has an Earnings ESP of +8.71%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).
Upcoming Releases
Here are some defense companies you may want to consider as these have the right combination of elements to post an earnings beat in their upcoming releases:
Northrop Grumman (NOC - Free Report) has an Earnings ESP of +1.23% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
L3Harris Technologies (LHX - Free Report) has an Earnings ESP of +0.57% and a Zacks Rank #3.
A Recent Defense Release
Lockheed Martin (LMT - Free Report) reported third-quarter 2020 earnings from continuing operations of $6.25 per share, which surpassed the Zacks Consensus Estimate of $6.07 by 3%. The bottom line also improved 10.4% from the year-ago quarter’s $5.66.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>