Raytheon (RTN) Tops Q4 EPS by 4c

Raytheon (NYSE: RTN) reported Q4 EPS of $3.16, $0.04 better than the analyst estimate of $3.12. Revenue for the quarter came in at $7.8 billion versus the consensus estimate of $8 billion.

• Net sales for the fourth quarter 2019 of $7.8 billion, up 6.5 percent compared to $7.4 billion in the fourth quarter 2018.
• Fourth quarter 2019 EPS from continuing operations was $3.16 compared to $2.93 in the fourth quarter 2018.
• The increase in the fourth quarter 2019 EPS from continuing operations was primarily driven by operational improvements.

"Raytheon had a very successful year in 2019, delivering record bookings, backlog, sales and operating cash flow," said Thomas A. Kennedy, Raytheon Chairman and CEO. "Our results reflect the continued hard work and dedication of the Raytheon team and position us well for the future.

"Integration planning for the merger with United Technologies is progressing well, with the integration team developing detailed execution plans to capture revenue and cost synergies rapidly and ensure seamless operations post close. Our goal is to close the merger early in the second quarter of 2020."

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

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