Aerospace and defense company Raytheon (NYSE: RTX) will be reporting earnings this Tuesday before market hours. Here’s what you need to know.
RTX beat analysts’ revenue expectations last quarter, reporting revenues of $24.24 billion, up 12.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ EBITDA estimates.
Is RTX a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting RTX’s revenue to grow 5.8% year on year, in line with the 5.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. RTX has a history of exceeding Wall Street’s expectations.
Looking at RTX’s peers in the aerospace and defense segment, some have already reported their Q1 results, giving us a hint as to what we can expect. AAR delivered year-on-year revenue growth of 24.6%, beating analysts’ expectations by 4.1%, and Byrna reported revenues up 10.9%, falling short of estimates by 2.3%. AAR traded up 9.9% following the results while Byrna was down 38.3%.
Read our full analysis of AAR’s results here and Byrna’s results here.
There has been positive sentiment among investors in the aerospace and defense segment, with share prices up 10.3% on average over the last month. RTX is up 1.2% during the same time and is heading into earnings with an average analyst price target of $216.02 (compared to the current share price of $197.10).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
