Raytheon Co. (RTN) is expected to report Q3 earnings before the market open on Thursday, October 22 with a conference call scheduled for 9 am ET.
Analysts are looking for a profit of $1.16 on revenue of $6.18B. The consensus range is $1.10-$1.24 for EPS, and revenue of $6.05B-$6.35B, according to First Call. The company raised its FY09 EPS and revenue guidance when it reported its Q2 results. Raytheon expects FY09 EPS of $4.60-$4.75 versus consensus of $4.78, and FY09 revenue of $24.5B-$25B versus consensus of $24.77B. In mid-September shares of Raytheon and Lockheed Martin (LMT) were given a boost after Defense Secretary Gates said that the U.S. would utilize weapons made by the two companies as part of a new strategy to respond to missile threats from Iran and others. Despite the boost in September, Raytheon's shares have been very volatile throughout Q3. Investors should note that even with the unsteady share price the company has topped analysts estimate in the past four quarters and could be again be primed to beat estimates.