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Mar 31, 2023
Raytheon Q1 2023 Earnings Report
Raytheon Technologies reported a solid start to the year with sales growth and strong segment operating profit increase.
Key Takeaways
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.
Revenue by Segment
Forward Guidance
Raytheon Technologies reaffirms its outlook for full year 2023.
Positive Outlook
- Sales of $72.0 - $73.0 billion
- Adjusted EPS of $4.90 - $5.05
- Free cash flow of approximately $4.8 billion
- Share repurchase of $3.0 billion of RTX shares
- Business realignment on track for July to unlock additional value.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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