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Raytheon Posts Revenue Jump for Q2, Lifts Full-Year Guidance

Raytheon Technologies (NYSE: RTX) posted $15.9 billion in fiscal year 2021 second quarter sales, which the company said was up 10 percent organically from the same period a year ago.

The Waltham, Massachusetts-based defense and aerospace contractor also raised the low end of its full-year sales guidance to $64.4 billion from the previous $63.9 billion outlook and left the high-end of its 2021 revenue forecast unchanged at $65.4 billion.

Among the company’s three business segments, Collins Aerospace made the highest sales in the quarter with a reported amount of $4.54 billion, a 6 percent increase from the prior-year period, and the company attributed the growth to a 24 percent increase in commercial original equipment sales.

Pratt & Whitney and Raytheon Intelligence & Space generated $4.28 billion and $3.8 billion in sales for the quarter, respectively.

Total backlog as of June 30 was $151.8 billion, including $66.1 billion from defense programs, the company noted.

Raytheon also lifted its 2021 earnings guidance to a range between $3.85 and $4.00 per share from the prior $3.50-to-$3.70 range

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