Raytheon Slid Nearly 3% in Premarket Trading after Posting Its Financial Result

Raytheon slid nearly 3% in premarket trading after posting its financial result.

Raytheon Technologies Corporation (NYSE: RTX) reported fourth quarter 2021 results and announced its 2022 outlook.

Fourth quarter 2021

• Sales of $17.0 billion
• GAAP EPS from continuing operations of $0.46, which included $0.62 of acquisition accounting adjustments and net significant and/or non-recurring charges
• Adjusted EPS of$1.08
• Operating cash flow from continuing operations of $3.2 billion; Free cash flow of$2.2 billion
• Completed the acquisitions of Flight Aware and SEAKR Engineering, and the disposition of RIS' Global Training and Services business
• Achieved approximately $190 million of incremental RTX gross cost synergies
• Company backlog of $156 billion; including defense backlog of $63 billion
• Repurchased $327 million of RTX shares

Full year 2021

• Sales of$64.4 billion
• GAAP EPS of$2.58
• Adjusted EPS of$4.27
• Operating cash flow from continuing operations of$7.1 billion; Free cash flow of$5.0 billion
• Achieved approximately$760 million of incremental RTX gross cost synergies
• Repurchased$2.3 billion of RTX shares

Outlook for full year 2022

• Sales of$68.5-$69.5 billion
• Adjusted EPS of$4.60-$4.80
• Free cash flow of approximately$6.0 billion. Assumes the legislation requiring R&D capitalization for tax purposes is deferred beyond 2022.
• Share repurchase of at least$2.5 billion of RTX shares