Raytheon Company (RTN) recently released third-quarter results. Earnings per share of $1.01 eclipsed the year-prior 86 cents and exceeded the consensus estimate by 5%. The company cited operational improvements and lower pension expense as contributors to the higher earnings. Net sales of $5.9 billion jumped 12% year-over-year.

Company Description

Raytheon Company is the one of the largest aerospace and defense companies in the U.S., with a well-diversified line of military products Incorporatedluding missiles, radars, sensors, surveillance and reconnaissance equipment, communication and information systems, naval systems, air traffic control systems, and technical services.

Raytheon offers investors strong order bookings and order backlog, double-digit organic growth, an improving balance sheet, growing cash flow, above industry average ROE, and one of the highest dividend yields in the industry.

Solid Quarterly Growth

The Zacks #1 Rank (“strong buy”) recently released third-quarter results. Earnings per share of $1.01 eclipsed the year-prior 86 cents and exceeded the consensus estimate by 5%. The company cited operational improvements and lower pension expense as contributors to the higher earnings. Net sales of $5.9 billion jumped 12% year-over-year.

Higher Estimates

Forecasts jumped on the strong quarter. 8 of 12 covering analysts boosted full-year 2008 earnings estimates to $4.03 per share from last week’s $3.99. For the following year, 10 out of 11 analysts hiked expectations to $4.70 per share from $4.44.

Content Courtesy: Zacks Investment Research

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