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Raytheon follows better than expected Q2 by raising sales forecast

Jul. 23, 2015 10:20 AM ETRaytheon Company (RTN) StockRTXBy: Carl Surran, SA News Editor
  • Raytheon (RTN +6%) opens with strong gains after posting better than expected Q2 earnings and revenues, aided by strong international bookings and the favorable impact of a tax settlement.
  • RTN lowers its 2015 EPS guidance to $6.47-$6.62 from its earlier outlook for $6.67-$6.82 to reflect April's $1.6B deal to acquire control of Websense, in line with analyst expectations, but raises its 2015 sales guidance to $22.7B-$23.2B from $22.3B-$22.8B, with Websense expected to add an extra $100M and the unit that builds the Patriot missile defense system boosting revenue by $300M.
  • Patriot sales helped lift Q2 revenues by 2.8% to $5.85B, with $7.6B in orders boosting its book-to-bill ratio to 1.3.
  • CFO Toby O'Brien says RTN expects the Websense acquisition to be accretive to earnings in 2-3 years, instead of 3-4 years as initially expected.

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Raytheon Company