Raytheon Company (RTN) Tops Q2 Earnings & Revenue Estimates

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Raytheon CompanyRTN is the world's largest missile manufacturer. It is one of the largest aerospace and defense companies in the U.S. with a diversified line of military products including missiles, radars, sensors, surveillance and reconnaissance equipment, communication and information systems, naval systems, air traffic control systems, and technical services.

Currently, Raytheon has a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. You can see the complete list of today's Zacks #1 Rank stocks here .

Raytheon delivered positive earnings surprise in the last four quarters with an average beat of 5.68%.

Raytheon Company Price and EPS Surprise

Raytheon Company Price and EPS Surprise | Raytheon Company Quote

The key takeaways from this immediate announcement are highlighted below:

Earnings : Raytheon beat on earnings expectations in the second quarter of 2018. Our consensus called for EPS of $2.32, and the company reported adjusted earnings from continuing operations of $2.45 per share.

Revenue : The company also surpassed revenue expectations. Raytheon posted revenues of $6,625 million, compared to our consensus estimate of $6,499 million.

Key Stats to Note : Bookings surged 33.1% year over year during the quarter to $8.7 billion. Backlog at the end of second-quarter was $39.9 billion, which rose 10.3% compared to the previous year's figure.

Stock Price : In the pre-market trading session, Raytheon's shares gained 2% thereby reflecting investors' optimism for its second-quarter results.

Check back later for our full write up on this Raytheon earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Earnings , Investing Ideas , Stocks
Referenced Symbols: RTN

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