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Dec 31, 2021
Raytheon Q4 2021 Earnings Report
Raytheon Technologies reported Q4 2021 results and announced its 2022 outlook.
Key Takeaways
Raytheon Technologies reported Q4 2021 sales of $17.0 billion with a GAAP EPS of $0.46 and adjusted EPS of $1.08. The company's operating cash flow was $3.2 billion and free cash flow was $2.2 billion. The company's backlog reached $156 billion.
Sales of $17.0 billion were reported.
GAAP EPS from continuing operations was $0.46, including $0.62 of acquisition accounting adjustments and net significant and/or non-recurring charges.
Adjusted EPS was $1.08.
Operating cash flow from continuing operations was $3.2 billion; Free cash flow was $2.2 billion.
Revenue by Segment
Forward Guidance
Raytheon Technologies expects sales of $68.5 - $69.5 billion, adjusted EPS of $4.60 - $4.80, and free cash flow of approximately $6.0 billion for full year 2022.
Positive Outlook
- Sales of $68.5 - $69.5 billion
- Adjusted EPS of $4.60 - $4.80
- Free cash flow of approximately $6.0 billion
- Share repurchase of at least $2.5 billion of RTX shares
- The long-term outlook for commercial aerospace and defense markets remains strong.
Challenges Ahead
- Assumes the legislation requiring R&D capitalization for tax purposes is deferred beyond 2022.
- Effect of changes in global economic, capital market and political conditions in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, inflation, interest rates and foreign currency exchange rates, and geopolitical risks
- Effect of and risks relating to coronavirus disease 2019 (COVID-19) pandemic on RTC’s business, supply chain, operations and the industries in which it operates, including the decrease in global air travel and disruption to business and other commercial activities, the impact on the demand for RTC’s products and services, the disruption to global supply and distribution capabilities which have impacted supplies required for RTC’s performance, the financial condition of RTC’s customers and suppliers, challenges relating to employee health, safety, and availability and workplace and facility operations, and the timing and extent of the recovery from COVID-19 and the impact on such recovery from new COVID-19 variants and outbreaks, vaccine-related issues and other future developments
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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