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Dec 31, 2019
Raytheon Q4 2019 Earnings Report
Reported record sales, adjusted earnings per share, and free cash flow.
Key Takeaways
United Technologies reported Q4 2019 results with sales of $19.6 billion, up 8% versus prior year, and adjusted EPS of $1.94. Full year sales were $77.0 billion, up 16% versus prior year, and adjusted EPS of $8.26.
Q4 sales were $19.6 billion, up 8 percent versus prior year, including 1 percent organic growth.
GAAP EPS was $1.32, up 59 percent versus prior year.
Adjusted EPS was $1.94, down 1 percent versus prior year.
Full year sales were $77.0 billion, up 16 percent versus prior year including 5 percent organic growth.
Revenue by Segment
Forward Guidance
Given the upcoming portfolio actions, the outlook for sales, adjusted EPS and free cash flow for Raytheon Technologies will be provided after the merger closes. The outlooks for Carrier and Otis will be provided in conjunction with their upcoming pre-spin investor meetings scheduled for February 10th and 11th, respectively.
Positive Outlook
- Pratt & Whitney sales up mid single digit versus 2019.
- Pratt & Whitney adjusted operating profit up $225 to $275 million versus 2019.
Challenges Ahead
- Collins Aerospace sales down low single digit versus 2019, including an estimated 5 point headwind resulting from the suspension of 737 MAX production, lower ADS-B mandate sales and the expected impact of divestitures associated with the Raytheon merger.
- Collins Aerospace adjusted operating profit down $275 to $325 million versus 2019, including an estimated headwind of approximately $550 to $600 million resulting from the 737 MAX, lower ADS-B mandate profit and the expected impact of divestitures associated with the Raytheon merger.
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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