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 #3 (Hold). 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 6.36%.
The key takeaways from this immediate announcement are highlighted below:
Earnings: Raytheon beat on earnings expectations in the first quarter of 2018. Our consensus called for EPS of $2.10, and the company reported earnings from continuing operations of $2.20 per share.
Revenue: The company also surpassed revenue expectations. Raytheon posted revenues of $6,267 million, compared to our consensus estimate of $6,173 million.
Raytheon Company Price and EPS Surprise
Raytheon Company Price and EPS Surprise | Raytheon Company Quote
Key Stats to Note: Bookings rose 11% year over year during the quarter to $6.3 billion. Backlog at the end of first-quarter was $38.1 billion, almost in line with $38.2 billion at 2017-end.
Stock Price : In the pre-market trading session, Raytheon's shares gained 2.2% thereby reflecting investors' optimism for its first-quarter results.
Check back later for our full write up on this Raytheon earnings report later!
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