UPDATE 1-Raytheon quarterly profit rises about 26 pct on lower taxes [Reuters]
RAYTHEON CO (RTN)
Last raytheon co earnings: 1/30 06:55 am
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Source: Reuters
UPDATE 1-Raytheon quarterly profit rises about 26 pct on lower taxes | Reuters Reuters Staff 4 Min Read (Adds CFO comment, Poland sale, tax rate) By Mike Stone and Ankit Ajmera April 26 (Reuters) - Tomahawk missile maker Raytheon Co reported a 25.6 percent increase in first-quarter profit on Thursday, benefiting from lower taxes under the U.S. tax law changes passed late last year. Raytheon’s operations and outlook are also being aided by an increase in overall defense spending under U.S. President Donald Trump’s administration, and expanding global demand. In March, Poland signed a $4.75 billion agreement to buy Raytheon’s Patriot missile defense system as it modernizes its forces against a bolder Russia. Raytheon’s Integrated Defense Systems unit, which makes Patriot missiles, contributed to higher earnings per share through increased sales and a higher profit “margin rate, in the quarter, of 18 percent which was considerably higher than last year’s first quarter,” when the unit had
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