Earnings Preview: Raytheon Company

Jul.23.08 | About: Raytheon Company (RTN)

Raytheon Company (NYSE:RTN) is expected to report Q2 earnings before market open Thursday, July 24, with a conference call scheduled for 9:00 a.m. ET.

Guidance

Analysts are looking for EPS of 93c on revenue of $5.63B. The consensus range is 85c to 97c for EPS, and $5.5B to $5.72B for revenue, according to First Call. The company gave FY08 EPS and revenue guidance when it reported its Q1 earnings results. The company expects FY08 EPS of $3.65 to $3.80 vs. consensus of $3.92, and expects FY08 revenue of $22.4B to $22.9B vs. consensus of $22.93B.

Analyst Views

Citigroup stated on June 10 that it expects the company's faster than industry organic growth to continue and views weakness as a good buying opportunity. The firm gave the company's shares a Buy rating. Citigroup also stated on July 10 that it expects the company to beat consensus estimates and raise its guidance. JP Morgan upgraded Raytheon on June 24 to Overweight from Neutral, citing relative valuation.