Raytheon (RTN) Tops Q2 EPS by 64c; Raises Outlook

Raytheon (NYSE: RTN) reported Q2 EPS of $2.38, $0.64 better than the analyst estimate of $1.74. Revenue for the quarter came in at $6 billion versus the consensus estimate of $5.83 billion.

Strong bookings of $7.1 billion; book-to-bill ratio of 1.18.

"The Company had strong second quarter operating results, with bookings, sales, operating margin,earnings per share, and cash flow all ahead of our expectations," said Thomas A. Kennedy, Raytheon Chairman and CEO. "We begin the second half of 2016 with continued confidence in our growth outlook, and we have increased our guidance for earnings and cash flow as a result of our strong year-to-date performance."

GUIDANCE:

Raytheon sees FY2016 EPS of $7.13-$7.33, versus prior guidance of $6.93-$7.13 and the consensus of $7.18. Raytheon sees FY2016 revenue of $24-24.5 billion, versus the consensus of $24.42 billion.

For earnings history and earnings-related data on Raytheon (RTN) click here.

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