Raytheon beats, raises

"While the overall economic environment has been challenging, [our] solid Q3 performance reflects our continued focus on the fundamentals," Raytheon (RTN) CEO William Swanson says, as the company beats on both the top and bottom line.

Revenue of $5.84B is a touch above consensus and is off 3.4% Y/Y.

Q3 bookings and backlog come in at $5.685B (versus $7.293B in Q3 2012) and $32.235B, respectively.

The company's updated FY13 guidance "reflects ... current expectations from the effects of sequestration": Adjusted EPS of $6.10-6.20 (versus previous guidance of $6-6.10/share) on sales of $23.6-23.8B (versus previous guidance of $23.5-23.7B). (PR)

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