Raytheon (NYSE: RTN ) reported earnings on April 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended April 1 (Q1), Raytheon beat expectations on revenues and crushed expectations on earnings per share.
Compared with the prior-year quarter, revenue dropped slightly and GAAP earnings per share increased significantly.
Margins increased across the board.
Raytheon reported revenue of $5.94 billion. The 15 analysts polled by S&P Capital IQ expected to see a top line of $5.77 billion on the same basis. GAAP reported sales were 2.0% lower than the prior-year quarter's $6.06 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $1.46. The 16 earnings estimates compiled by S&P Capital IQ forecast $1.18 per share on the same basis. GAAP EPS of $1.32 for Q1 were 25% higher than the prior-year quarter's $1.06 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 21.5%, 240 basis points better than the prior-year quarter. Operating margin was 11.9%, 190 basis points better than the prior-year quarter. Net margin was 7.5%, 120 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $6.06 billion. On the bottom line, the average EPS estimate is $1.25.
Next year's average estimate for revenue is $24.53 billion. The average EPS estimate is $5.09.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Raytheon is outperform, with an average price target of $53.00.
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