Benzinga | Apr 27, 2021 07:07AM EDT

Raytheon Technologies: Q1 Earnings Insights



Shares of Raytheon Technologies (NYSE:RTX) moved higher by 0.1% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share decreased 49.44% year over year to $0.90, which beat the estimate of $0.88.

Revenue of $15,251,000,000 declined by 16.25% from the same period last year, which missed the estimate of $15,360,000,000.

Looking Ahead

Raytheon narrowed FY21 adjusted EPS guidance from $3.40-$3.70 to $3.50-$3.70.

The company also narrowed sales guidance from $63.4B-$65.4B to $63.9B-$65.4B.

Details Of The Call

Date: Apr 27, 2021

Time: 08:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/o2sr3pci

Recent Stock Performance

Company's 52-week high was at $82.07

52-week low: $51.13

Price action over last quarter: Up 23.66%

Company Description

Raytheon Technologies is a diversified aerospace and defense industrial company formed from the merger of United Technologies and Raytheon, with roughly equal exposure as a supplier to the commercial aerospace manufactures and to the defense market as a prime and subprime contractor. The company operates in four segments: Pratt & Whitney, an engine manufacturer, Collins Aerospace, which is a diversified aerospace supplier, and intelligence, space and airborne systems, a mix between a sensors business and a government IT contractor, and integrated defense and missile systems, a defense prime contractor focusing on missiles and missile defense hardware.