Today, 7:56 AM
- Income from continuing operations $710M, or $2.38 per share vs. $504M, or $1.65 per share in the same quarter a year ago.
- Revenue by segment: Integrated Defense Systems -11%; Intelligence, Information and Services +3%; Missile Systems +6%; Space and Airborne Systems +9%.
- Bookings fell 6.1% to $7.1B from $7.6B in the prior year period. Backlog at the end of Q2 was $35.3B, compared to $34.5B a year earlier.
- Repurchased 1.6M shares of common stock for $202M during the quarter.
- Updated outlook for 2016: EPS from continuing operations of $7.13-$7.33 (vs. $6.93-$7.13 previously), on sales of $24B-$24.5B.
- RTN +2.4% premarket
- Q2 results
Today, 7:07 AM
Yesterday, 5:30 PM
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Mon, Jul. 25, 9:03 AM
- Raytheon (NYSE:RTN) is developing new technologies to allow the next generation of manned and unmanned flying vehicles to communicate seamlessly, even in hostile environments.
- Under two contracts totaling $9M, Raytheon BBN Technologies will deliver new networking solutions as part of the DARPA's Dynamic Network Adaptation for Mission Optimization program.
Tue, Jul. 12, 10:01 AM
- The contract is for All Up Round Tactical Full Rate Production Lot 16 of Block II missiles for the U.S. Navy, Air Force, Army and the governments of Japan, Norway and Taiwan.
- The AIM-9X Sidewinder missile is one of the most advanced infrared-tracking, short-range, air-to-air and surface-to-air missiles in the world.
Mon, Jul. 11, 4:58 PM
- Raytheon (NYSE:RTN) says it has bright prospects for continued sales of its Patriot air defense missile systems, citing strong interest among its 13 operator countries in adding a 360-degree AESA radar to their existing systems.
- Wes Kremer, president of RTN's Integrated Defense Systems business, does not provide detailed estimates on how many of the radar units the company could sell, but all 13 countries that operate the current system are potential candidates.
- Kremer said RTN is closely watching developments in Germany, which last year chose Lockheed Martin's rival MEADS system to replace its Patriots, in the hope that the decision could still be reversed.
Mon, Jul. 11, 7:51 AM
- Donghai Airlines intends to purchase 25 737 MAX 8s and five 787-9 Dreamliners in a deal valued at more than $4B.
- Xiamen Airlines has signed an MOU to buy up to 30 737 MAX 200 planes worth $3.4B.
- Standard Chartered (OTCPK:SCBFF) announced an order for 10 Next-Generation 737-800s valued at $960M.
- Britain has signed a contract for nine new P-8A Poseidon military aircraft and 50 Apache AH-64E attack helicopters.
- Embraer (NYSE:ERJ) sealed an agreement with Boeing to jointly market and support its military cargo KC-390 aircraft.
- The U.S. planemaker also announced a redesign of the smallest member of its 737 MAX jet family, saying it would carry 12 more passengers.
- AirAsia (OTC:AIABF) is near a $12.6B deal for as many as 100 A321s.
- Virgin Atlantic is set to announce an order for at least 10 A350-1000s, worth more than $3.5B.
- Raytheon (NYSE:RTN) awarded CPI Aero (NYSEMKT:CVU) a contract valued at approximately $4M for next generation jammer pod structures.
- CAE won civil aviation training contracts valued at more than C$180M.
Mon, Jul. 11, 4:19 AM
- The Farnborough Airshow takes off today with executives from the aviation industry flying in to complete deals and unveil their latest technology.
- Brexit uncertainty could cloud demand for big jets, as Airbus (OTCPK:EADSY) and Boeing (NYSE:BA) look to snap up some scarce orders from the big carriers.
- Among the exhibitors: AJRD, AME, CAE, ERJ, FLIR, GD, HRS, LLL, LMT, RTN, SNA, SPR, TXT, UTX
Tue, Jul. 5, 2:48 AM
- Poland has made significant progress in its talks with Raytheon (NYSE:RTN) over a Patriot missile system valued at an estimated €5B.
- The EU member's previous government had placed a question mark over the purchase after coming into power in November.
- According to Defense Minister Antoni Macierewicz, the country is ready to move ahead with the plan because Raytheon pledged that 50% of the missile system spending would be "done in Poland by Polish arms firms."
Mon, Jun. 27, 11:16 AM
- The outperformance of low-P/E stocks that marked H1 is behind us, says RBC's Jonathan Golub, and it's time for the "Stable Growers" to re-asset leadership. He cautions about putting money to work too quickly though, noting the pullback so far has been limited.
- His list of Stable Growers (page 1, page 2): CHD, CL, CVS, K, MO, PEP, PG, PM, BCR, BDX, DGX, DVA, HSIC, JNJ, LH, MDT, SYK, TMO, UNH, ZBH, AFL, AON, MMC, TMK, CTAS, DHR, HON, ITW, LMT, MMM, NLSN, RSG, RTN, UPS, VRSK, WM, XYL, CMCSA, MCD, OMC, ADP, APH, EMC, MA, T, VZ, ECL, PX
Fri, Jun. 24, 8:27 AM
Tue, Jun. 7, 9:15 AM
- Raytheon (NYSE:RTN) and Aerojet Rocketdyne (NYSE:AJRD) have entered into a new Strategic Sourcing Agreement.
- Under the deal, Aerojet will act as a principal and long-term supplier of its legacy portfolio of propulsion systems and energetics products for key weapons programs.
- The two companies will also jointly pursue affordability initiatives through 2019 as part of the agreement.
Mon, Jun. 6, 9:09 AM
- The U.S. Marine Corps has awarded Raytheon (NYSE:RTN) up to $249M with options over five years for work on the Secondary Reparable program, rebuilding vehicle parts such as engines, transmissions and electronics.
- The Marine Corps takes delivery of the items at approximately half the price of buying new, while the savings can be re-invested into logistics.
Thu, May 26, 5:08 PM
Mon, May 23, 3:21 AM
- President Obama kicked off his three-day visit to Vietnam with an announcement declaring the end of a U.S. arms embargo on the country, a ban that had been in place for decades.
- "We've come here as a symbol of the renewed ties....and the comprehensive partnership we have created over the course of my presidency," Obama said at a press conference.
- The trip will also see the nations discuss the Trans-Pacific Partnership, which is expected to usher in a new period of growth for export-oriented Vietnam.
- Related tickers: GD BA, NOC, LMT, RTN, OA, HII, HON, UTX, OTCPK:EADSF, ITT, TXT, LLL, OTCPK:BAESY, OTCPK:FINMY, COL
- ETFs: VNM
Mon, May 16, 5:37 PM
- Raytheon’s (NYSE:RTN) network of ground stations for the U.S. Air Force’s newest GPS satellites may cost at least $5.3B to develop, according to the service, 56% higher than the original projection.
- Bloomberg reports that even that preliminary estimate may prove low because the Air Force says it has less than a 25% level of confidence in it, given the program is running nearly five years late and has been called the Pentagon’s “no. 1 troubled program” by the service’s head of space systems acquisition.
- The Senate Armed Services Committee last week withheld all $394M that the Defense Department requested for the system for FY 2017 as it approved its version of the annual defense authorization, saying the funds should not be released until the DoD certifies that the ground network is vital to national security and should not be canceled.
- In 2012, the Air Force estimated that developing the network would cost $3.4B in inflation-adjusted current dollars, and in December, the DoD’s acquisition chief directed that the development phase be extended two years to July 2021 to solve persistent software problems, on top of an earlier three-year delay.
Raytheon Co. develops and manufactures engineering technology for government and commercial use in the areas of defense, government electronics and information technology. It provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing,... More
Sector: Industrial Goods
Industry: Aerospace/Defense - Major Diversified
Country: United States
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