Raytheon Company RTN is the world’s largest missile manufacturer. It is one of the largest aerospace and defense companies in the U.S. 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 #4 (Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Raytheon delivered positive earnings surprise in the last four quarters with an average beat of 8.17%.
The key takeaways from this immediate announcement are highlighted below:
Earnings: Raytheon surpassed on earnings expectations. Our consensus called for EPS of $1.40, and the company reported EPS of $1.47.
Revenue: The company missed on revenue expectations. Raytheon posted revenues of $5,783 million, compared to our consensus estimate of $5,801 million.
Key Stats to Note: Bookings decreased 9.6% year over year during the quarter to $5.32 billion. Backlog at the end of the third quarter was $33.57 billion, up from $33.25 billion a year-ago.
The company lifted its revenue expectation for 2015 to the range of $23 billion −$23.3 billion from its earlier projection of $22.7 billion − $23.2 billion. It however reaffirmed its earnings forecast at $6.47−$6.62 per share for 2015.
Check back later for our full write up on this Raytheon earnings report later!
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