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  • Thursday, April 18, 2024

Raytheon 3Q Bookings Jump 14%; Credit Rating Upgraded by Moody’s

Raytheon Co. (NYSE: RTN) released its third quarter financial results on Oct. 27.

The company reported it earned $1.39 per diluted share, a 3 percent increase over the third quarter of 2010.

The company also reported $6.884 million in third quarter bookings, a more than 14 percent increase from the $6.038 million it reported in the prior year period.

The 2011 quarter’s bookings resulted in a book-to-bill ratio of 1.12.

Raytheon also announced that Moody’s upgraded its credit rating from Baa1 to A3 on Oct. 17. The company has repurchased 20.1 million shares of common stock for $937 million in the past year.

“Our continued focus on delivering affordable and innovative solutions to our customers is highlighted by robust third quarter bookings, ” said William H. Swanson, Raytheon’s chairman and CEO. “Solid execution and cost reduction efforts drove strong operating margin and cash flow performance in the quarter.”

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