UPDATE 2-Raytheon profit beats estimates, raises 2019 forecast on higher weapons demand [Reuters]
RAYTHEON CO (RTN)
Last raytheon co earnings: 1/30 06:55 am
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Source: Reuters
Raytheon profit beats estimates, raises 2019 forecast on higher weapons demand - Reuters 3 Min Read (Reuters) - U.S. weapons maker Raytheon Company ( RTN.N ) reported better-than-expected third-quarter profit on Thursday and raised its full-year earnings and sales outlook, helped by higher demand for space programs, weapons and missile warning systems. Shares of the maker of the Patriot missile-defense system were up 1.8% in premarket trading. During an interview with Reuters on Thursday, Chief Financial Officer Toby O’Brien said higher profit margins due to timing were helpful in the quarter and that across the business units, “the segment margins of 12.1% exceeded our expectations.” The company maintained its revenue growth expectations of 6% to 8% in 2020, he said. Massachusetts-based Raytheon and other U.S. weapons makers are expected to benefit from the $733-billion defense bill for fiscal 2020, which is about 2% higher than the bill for 2019. Sales of U.S. military equipment t
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