Free Research Report as Raytheon’s Sales Grew 4.5% and EPS Advanced 7.1%

Stock
Monitor: Air Industries Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 27,
2017 / Active-Investors’ free earnings report on Raytheon Co.
(NYSE: RTN) has freshly been issued to its members, and you can also sign up to
view this report at www.active-investors.com/registration-sg/?symbol=RTN.
The Company reported its third quarter fiscal 2017 operating results on October
26, 2017. The Waltham, Massachusetts-based weapons maker surpassed earnings
expectations and also raised its earnings guidance for FY17. Register today and
get free access to our complimentary member’s area where many more reports are
available: www.active-investors.com/registration-sg.

Active-Investors.com is currently
working on the research report for Air Industries Group (NYSE: AIRI), which
also belongs to the Industrial Goods sector as the Company Raytheon. Do not
miss out and become a member today for free to access this upcoming report at: www.active-investors.com/registration-sg/?symbol=AIRI.

Active-Investors.com
is focused on giving you timely information and the inside line on companies
that matter to you. This morning, Raytheon most recent news is on our radar and
we have decided to include it on our blog post. Today’s free coverage is
available at: www.active-investors.com/registration-sg/?symbol=RTN.

Earnings
Highlights and Summary

For the third quarter of
the fiscal year 2017, Raytheon announced net sales of $6.28 billion, up 4.5%
compared to $6.01 billion in Q3 2016. The Company’s revenue numbers fell short
of analysts’ estimates of $6.33 billion.

Raytheon’s earnings per
share (EPS) from continuing operations was $1.97 in Q3 2017, up 7.07% compared
to $1.84 in Q3 2016. The increase in EPS from continuing operations was
primarily driven by operational improvements. The Company’s earnings beat Wall
Street’s estimates of $1.90 per share.

Segment
Results

During Q3 2017,
Raytheon’s Integrated Defense Systems (IDS) segment generated net sales of
$1.39 billion, up 4% compared to $1.33 billion in Q3 2016. The increase was
primarily driven by higher net sales on an international early warning radar
program awarded in Q1 2017. The IDS segment recorded an operating income of $231
million in the reported quarter compared to $211 million in the year ago same period,
primarily attributed to higher net program efficiencies and higher volume.

For Q3 2017, Raytheon’s
Intelligence, Information, and Services (IIS) segment recorded net sales of
$1.54 billion compared to $1.53 billion in Q3 2016. The IIS segment recorded an
operating income of $112 million in the reported quarter versus $123 million in
the year ago comparable period. The change in operating margin was primarily
due to a change in program mix and other performance.

During Q3 2017, the IIS segment
booked $469 million on domestic and foreign training programs in support of
Warfighter FOCUS activities, and $104 million to provide intelligence,
surveillance, and reconnaissance (ISR) support to the US Air Force. The IIS segment
also booked $686 million on a number of classified contracts.

Raytheon’s Missile
Systems (MS) segment had net sales of $1.95 billion in Q3 2017, up 10% compared
to $1.77 billion in Q3 2016. The increase was primarily driven by higher net
sales on the Paveway™ and Excalibur® programs. The MS segment recorded $280
million of operating income in the reported quarter compared to $235 million in
the prior year’s corresponding quarter, due to higher net program efficiencies
and higher volume.

Raytheon’s Space and
Airborne Systems (SAS) segment reported net sales of $1.60 billion in Q3 2017 compared
to $1.59 billion in Q3 2016. The SAS segment recorded an operating income of $212
million in the reported quarter compared to $215 million in the year earlier same
quarter. During Q3 2017, the SAS segment booked approximately $200 million on
classified and unclassified space programs, and $84 million for radar
components for the US Navy and the Royal Australian Air Force. The SAS segment also
booked $435 million on a number of other classified contracts.

Cash
Matters

Raytheon’s operating cash
flow from continuing operations was $382 million for Q3 2017 compared to $640
million for Q3 2016. The change in operating cash flow from continuing
operations was primarily due to higher required pension contributions in the
reported quarter, partially offset by the timing of collections.

During Q3 2017, Raytheon
repurchased 1.1 million shares of common stock for $200 million. On a
year-to-date basis, the Company repurchased 4.4 million shares of common stock
for $700 million.

Raytheon’s bookings were
$6.96 billion in Q3 2017, slightly higher compared to $6.92 billion in Q3 2016.
The Company’s backlog was $36.7 billion at the end of the reported quarter, an
increase of approximately $950 million versus the prior year’s comparable
quarter.

Outlook

For FY17, Raytheon is
forecasting earnings to be $7.45 to $7.55 per share versus the previous
guidance of $7.35 to $7.50 per share, while revenue is expected to be in the
range of $25.3 billion to $25.6 billion.

Stock Performance Snapshot

November
24, 2017 – At Friday’s closing bell, Raytheon’s stock slightly
climbed 0.32%, ending the trading session at $186.06.

Volume traded for the
day: 434.28 thousand shares.

Stock performance in the
last three-month – up 4.51%; previous six-month period – up 13.94%; past twelve-month
period – up 25.82%; and year-to-date – up 31.03%

After last Friday’s
close, Raytheon’s market cap was at $54.09 billion.

Price to Earnings (P/E)
ratio was at 25.05.

The stock has a dividend
yield of 1.71%.

The stock is part of the Industrial
Goods sector, categorized under the Aerospace/Defense Products & Services
industry. This sector was up 0.1% at the end of the session.

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