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Compared to Estimates, Raytheon Technologies (RTX) Q2 Earnings: A Look at Key Metrics
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Raytheon Technologies (RTX - Free Report) reported $18.32 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 12.3%. EPS of $1.29 for the same period compares to $1.16 a year ago.
The reported revenue represents a surprise of +4.40% over the Zacks Consensus Estimate of $17.54 billion. With the consensus EPS estimate being $1.17, the EPS surprise was +10.26%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Raytheon Technologies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Collins Aerospace- Adjusted: $5.85 billion versus $5.62 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +16.7% change.
Net Sales- Raytheon Intelligence & Space- Adjusted: $3.66 billion compared to the $3.57 billion average estimate based on three analysts. The reported number represents a change of +2.4% year over year.
Net Sales- Eliminations and other- Adjusted: -$891 million compared to the -$844.63 million average estimate based on three analysts. The reported number represents a change of +12.2% year over year.
Net Sales- Pratt & Whitney- Adjusted: $5.70 billion versus the three-analyst average estimate of $5.63 billion. The reported number represents a year-over-year change of +14.7%.
Net Sales- Raytheon Missiles & Defense- Adjusted: $4 billion versus $3.67 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +12.4% change.
Operating Profit- Collins Aerospace- Adjusted: $837 million compared to the $819.05 million average estimate based on three analysts.
Operating Profit- Raytheon Intelligence & Space- Adjusted: $297 million versus $344.34 million estimated by three analysts on average.
Operating Profit- Pratt & Whitney- Adjusted: $436 million versus the three-analyst average estimate of $331.15 million.
Operating Profit- Raytheon Missiles & Defense- Adjusted: $427 million versus $388.30 million estimated by three analysts on average.
Operating profit- Corporate expenses and other unallocated items- Adjusted: -$28 million versus -$71.67 million estimated by three analysts on average.
Operating profit- Eliminations and Other- Adjusted: -$70 million compared to the -$57.50 million average estimate based on two analysts.
Shares of Raytheon Technologies have returned +0.5% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Raytheon Technologies (RTX) Q2 Earnings: A Look at Key Metrics
Raytheon Technologies (RTX - Free Report) reported $18.32 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 12.3%. EPS of $1.29 for the same period compares to $1.16 a year ago.
The reported revenue represents a surprise of +4.40% over the Zacks Consensus Estimate of $17.54 billion. With the consensus EPS estimate being $1.17, the EPS surprise was +10.26%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Raytheon Technologies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Collins Aerospace- Adjusted: $5.85 billion versus $5.62 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +16.7% change.
- Net Sales- Raytheon Intelligence & Space- Adjusted: $3.66 billion compared to the $3.57 billion average estimate based on three analysts. The reported number represents a change of +2.4% year over year.
- Net Sales- Eliminations and other- Adjusted: -$891 million compared to the -$844.63 million average estimate based on three analysts. The reported number represents a change of +12.2% year over year.
- Net Sales- Pratt & Whitney- Adjusted: $5.70 billion versus the three-analyst average estimate of $5.63 billion. The reported number represents a year-over-year change of +14.7%.
- Net Sales- Raytheon Missiles & Defense- Adjusted: $4 billion versus $3.67 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +12.4% change.
- Operating Profit- Collins Aerospace- Adjusted: $837 million compared to the $819.05 million average estimate based on three analysts.
- Operating Profit- Raytheon Intelligence & Space- Adjusted: $297 million versus $344.34 million estimated by three analysts on average.
- Operating Profit- Pratt & Whitney- Adjusted: $436 million versus the three-analyst average estimate of $331.15 million.
- Operating Profit- Raytheon Missiles & Defense- Adjusted: $427 million versus $388.30 million estimated by three analysts on average.
- Operating profit- Corporate expenses and other unallocated items- Adjusted: -$28 million versus -$71.67 million estimated by three analysts on average.
- Operating profit- Eliminations and Other- Adjusted: -$70 million compared to the -$57.50 million average estimate based on two analysts.
View all Key Company Metrics for Raytheon Technologies here>>>Shares of Raytheon Technologies have returned +0.5% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.