Raytheon beats by $0.13, beats on revs; guides FY17 EPS in-line, revs in-line
- Reports Q1 (Mar) earnings of $1.73 per share, $0.13 better than the Capital IQ Consensus of $1.60; revenues rose 3.4% year/year to $6 bln vs the $5.83 bln Capital IQ Consensus.
- Co issues in-line guidance for FY17, sees EPS of $7.25-7.40 vs. $7.40 Capital IQ Consensus Estimate; sees FY17 revs of $24.9-25.4 bln vs. $25.07 bln Capital IQ Consensus Estimate. This compares to prior guidance for EPS of $7.20-7.35 and revs of $24.8-25.3 bln.
- "Solid revenue growth and margin expansion drove strong earnings per share performance in the first quarter, with all of our businesses meeting or exceeding expectations," said Thomas A. Kennedy, Raytheon Chairman and CEO. "Our focus on global growth and operational excellence, combined with our balanced capital deployment strategy, continues to create value for our customers and shareholders."