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Sep 30, 2022
Raytheon Q3 2022 Earnings Report
Raytheon Technologies reported mixed Q3 2022 results with strong organic sales growth offset by lower adjusted EPS, while backlog grew.
Key Takeaways
Raytheon Technologies reported Q3 2022 results with sales of $17.0 billion, up 5% year-over-year, including 6% organic growth. GAAP EPS was $0.94, up 1%, while adjusted EPS was $1.21, down 4%. The company's backlog grew to $168 billion. They are also updating their full year sales and EPS guidance.
Sales of $17.0 billion, up 5 percent versus prior year including 6 percent organic growth
GAAP EPS from continuing operations of $0.94, up 1 percent versus prior year
Adjusted EPS of $1.21, down 4 percent versus prior year
Company backlog grew over $6 billion in the quarter, to $168 billion
Revenue by Segment
Forward Guidance
Raytheon Technologies provided updated guidance for full year 2022.
Positive Outlook
- Adjusted EPS of $4.70 - $4.80, up from $4.60 - $4.80
- Confirms free cash flow of approximately $4.0 billion
- Confirms share repurchase of at least $2.5 billion of RTX shares
- Focused on operational excellence, including cost containment and program performance
- Investing in next-generation technology and innovation
Challenges Ahead
- Sales of $67.0 - $67.3 billion, down from $67.75 - $68.75 billion
- Expect industry-wide challenges to continue near-term
- Continuing supply chain constraints
- Declines on Land Warfare and Air Defense programs and Naval Power programs
- Unfavorable program mix
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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