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McAleese & Associates: Raytheon Reports 7% Growth in Q1 2019 Sales

Jim McAleese

A new McAleese and Associates report says Raytheon (NYSE: RTN) saw its sales climb 7 percent to $6.7B in the first quarter of 2019 with an earnings per share of $2.77.

Jim McAleese, founder and principal at McAleese & Associates and a 2019 Wash100 winner, wrote in the report the Waltham, Mass.-based defense contractor reported $5.4B in Q1 2019 bookings and a total backlog of $41B, up 8 percent from the same period last year.

According to the report, Raytheon CEO and a 2019 Wash100 awardee Thomas Kennedy is “visibly excited” by several programs including the Missile Defense Agency’s Ground-Based Midcourse Defense/exoatmospheric kill vehicle “two-shot-salvo-test”; the Navy’s Air and Missile Defense Radar; the Army’s deep-strike precision strike missile; and hypersonics.

The company’s Q1 2019 classified bookings rose 37 percent and classified sales grew 22 percent during the quarter.

Raytheon’s intelligence, information and services business recorded a 12 percent increase in Q1 sales at $1.8B and saw its profit rise 60 percent to $187M.

The integrated defense systems segment posted $1.6B in Q1 sales, up 4 percent from the prior year period, while the revenue of the missile systems sector jumped 9 percent to $2B in Q1.

The space and airborne systems segment and Forcepoint reported a sales growth of 5 percent and 12 percent, respectively, during the first quarter.

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