Raytheon Company (RTN) recently posted second-quarter earnings of $1.24 per share, topping the year-prior $1.00 and exceeding the Zacks Consensus Estimate by 10%.
Company Description
Raytheon Company is the one of the largest aerospace and defense companies in the U.S., with a well-diversified line of military products, including missiles, radars, sensors, surveillance and reconnaissance equipment, communication and information systems, naval systems, air traffic control systems, and technical services.
A Recent Contract
Raytheon was recently awarded a $9.9 million contract to perform concept studies for the U.S. Navy’s Air and Missile Defense Radar (AMDR).
Management noted that the contract will help reduce costs and provide “no doubt-reliability and effectiveness for naval forces around the world.”
A Stellar Quarter
The company recently posted second-quarter earnings of $1.24 per share, topping the year-prior $1.00 and exceeding the Zacks Consensus Estimate by 10%.
Net sales of $6.1 billion came in above last year’s $5.9 billion. Total bookings of $7.6 billion surpassed the year-prior $6.0 billion.
Bullish Projections
The Zacks Consensus Estimate has been on the rise. Current year forecasts of $4.78 per share is above the previous month’s $4.72. For the following year, the Zacks Consensus Estimate of $5.08 per share was increased from last month’s $5.04.
Strong Fundamentals
Raytheon offers a return on equity (ROE) of 18%, beating the industry average of 16%. The company’s net profit margin of 7.5% compares to an industry average of 7%. The company also boasts an industry-leading dividend yield of 3%.