Raytheon Forecasts Higher Sales, Earnings in 2016 as 2015 & 4Q Profit Beat Street Estimate

Raytheon logoRaytheon (NYSE: RTN) — one of 30 companies listed in Executive Mosaic’s GovCon Index — has reported earnings of $7.12 per share for its full 2015 fiscal year and $1.93 for the fourth quarter to exceed Wall Street’s expectations on both counts.

The Waltham, Mass.-based defense technology contractor also posted $23.25 billion in revenue for 2015 and $6.33 billion for the October-December period to top the consensus analyst forecasts on a full-year basis and meet them for the fourth quarter.

Wall Street analysts expected Raytheon to report $6.71 earnings per share for the full year, $1.81 for the fourth quarter and close to $23.24 billion in sales for 2015.

Revenue jumped 1.88 percent on a year-to-year basis and fourth quarter sales rose 3.09 percent from the same period in 2014 on increases in the company’s integrated defense systems and missile systems unit.

Raytheon also issued a 2016 outlook that forecasts sales to jump into the $24 billion-to-$24.5 billion range, slightly higher than Wall Street’s $23.98 billion outlook, and earnings of between $6.80 and $7.00 per share to fall just short of analyst expectations of $7.10.

As of Wednesday’s close, shares in Raytheon had declined 4.02 percent since the start of January and risen 10.86 percent over 12 months.

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