Raytheon Company is a premier missile manufacturer. It is one of the largest aerospace and defense companies in the United States with a diversified line of military products including missiles, radars, sensors, surveillance and reconnaissance equipment, communication and information systems, naval systems, air traffic control systems, and technical services.
Currently, Raytheon has a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Raytheon delivered positive earnings surprise in the last four quarters with an average beat of 6.93%.
The key takeaways from this immediate announcement are highlighted below:
Earnings: Raytheon beat on earnings expectations in the first quarter. Our consensus called for EPS of $2.45, and the company reported EPS of $2.77.
Sales: The company also surpassed sales expectations. Raytheon posted net sales of $6,729 million, compared to our consensus estimate of $6,581 million.
Key Stats to Note: Bookings dropped 15% year over year during the quarter to $5.4 billion. Total backlog at the end of first quarter 2019 was $41.1 billion, up 8% from the previous year’s figure.
Stock Price: In the pre-market trading session, Raytheon’s shares gained 0.8% thereby reflecting investors’ optimism for its first-quarter results.
Check back later for our full write up on this Raytheon earnings report later!
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Raytheon (RTN) Beats on Q1 Earnings & Sales Estimates
Raytheon Company is a premier missile manufacturer. It is one of the largest aerospace and defense companies in the United States with a diversified line of military products including missiles, radars, sensors, surveillance and reconnaissance equipment, communication and information systems, naval systems, air traffic control systems, and technical services.
Currently, Raytheon has a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Raytheon delivered positive earnings surprise in the last four quarters with an average beat of 6.93%.
The key takeaways from this immediate announcement are highlighted below:
Earnings: Raytheon beat on earnings expectations in the first quarter. Our consensus called for EPS of $2.45, and the company reported EPS of $2.77.
Sales: The company also surpassed sales expectations. Raytheon posted net sales of $6,729 million, compared to our consensus estimate of $6,581 million.
Raytheon Company Price and EPS Surprise
Raytheon Company Price and EPS Surprise | Raytheon Company Quote
Key Stats to Note: Bookings dropped 15% year over year during the quarter to $5.4 billion. Total backlog at the end of first quarter 2019 was $41.1 billion, up 8% from the previous year’s figure.
Stock Price: In the pre-market trading session, Raytheon’s shares gained 0.8% thereby reflecting investors’ optimism for its first-quarter results.
Check back later for our full write up on this Raytheon earnings report later!
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
See the 7 breakthrough stocks now>>