Yahoo Finance RTX (RTX) Reports Q2: Everything You Need To Know Ahead Of Earnings
Aerospace and defense company Raytheon (NYSE:RTX) will be announcing earnings results tomorrow morning. Here's what to expect.
RTX beat analysts' revenue expectations by 4.9% last quarter, reporting revenues of $19.31 billion, up 12.1% year on year. It was a stunning quarter for the company, with an impressive beat of analysts' organic revenue estimates and a decent beat of analysts' earnings estimates.
Is RTX a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting RTX's revenue to grow 5.2% year on year to $19.28 billion, slowing from the 12.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.30 per share.
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 missed Wall Street's revenue estimates three times over the last two years.
Looking at RTX's peers in the aerospace and defense segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Lockheed Martin delivered year-on-year revenue growth of 8.6%, beating analysts' expectations by 6.5%, and Hexcel reported revenues up 10.1%, topping estimates by 3%. Hexcel traded down 7.5% following the results.
Read our full analysis of Lockheed Martin's results here and Hexcel's results here.
There has been positive sentiment among investors in the aerospace and defense segment, with share prices up 8.3% on average over the last month. RTX is up 3.2% during the same time and is heading into earnings with an average analyst price target of $107.7 (compared to the current share price of $104.77).
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