Missile maker Raytheon slashes 2018 cash flow forecast [Reuters]
RAYTHEON CO (RTN)
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Source: Reuters
Missile maker Raytheon slashes 2018 cash flow forecast | Reuters Reuters Staff 3 Min Read (Reuters) - Tomahawk missile maker Raytheon Co ( RTN.N ) on Thursday lowered its forecast for annual cash flow due to a $1.25 billion pension contribution in the current quarter. The Waltham, Massachusetts-based company expects 2018 operating cash flow from continuing operations of between $2.6 billion and $3 billion, down from an earlier expectation of $3.6 billion to $4 billion. Besides the contribution, Raytheon will take a non-cash pension settlement charge of $288 million in the third quarter of 2018, resulting in earnings per share reduction of 79 cents. Still, the maker of Paveway laser-guided bombs and SM-3 anti-ballistic missiles slightly raised its yearly earnings forecast thanks to a lower tax rate, derived from pension contribution benefits. Raytheon expects 2018 earnings from continuing operations of between $9.77 and $9.97 per share, up from a previously expected range of $9.70 to
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