Raytheon Technologies reported a strong first quarter with a 10% increase in sales, driven by continued global airline travel and defense systems demand. The company's backlog reached a record $180 billion, and adjusted EPS increased by 6% compared to the prior year.
Sales increased by 10% year-over-year, reaching $17.2 billion.
GAAP EPS from continuing operations was $0.97, a 31% increase year-over-year.
Adjusted EPS was $1.22, up 6% compared to the prior year.
The company's backlog reached a record $180 billion, with $71 billion from defense and $109 billion from commercial sectors.
Raytheon Technologies reaffirms its outlook for full year 2023.
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