Earnings Preview: Raytheon

Oct.22.08 | About: Raytheon Company (RTN)

Raytheon Company (NYSE:RTN) is expected to report Q3 earnings before market open Thursday Oct. 23, with a conference call scheduled for 9:00 am ET.

Guidance

Analysts are looking for EPS of 96c on revenue of $5.66B. The consensus range is 92c to $1.06 for EPS, and $5.56B to $5.87B for revenue, according to First Call. The company raised its FY08 EPS and revenue guidance when it reported its Q2 earnings results. The company raised its FY08 EPS guidance to $3.80 to $3.95 from $3.65 to $3.80, the consensus for FY08 EPS is $3.99. The company now expects FY08 revenue of $22.6B to $23.1B up from $22.4B to $22.9B, consensus estimates for FY08 revenue is $23.13B.

Analyst Views

Citigroup stated on October 8, in Aerospace and Defense coverage it believes Raytheon, Lockheed Martin (NYSE:LMT), and General Dynamics (NYSE:GD) will likely beat consensus estimates and raise guidance for 2008. The firm thinks Raytheon offers the best value.