Raytheon Technologies Reports First Quarter 2021 Results; Sales, Adjusted EPS and Free Cash Flow Exceeded Expectations
Raises low end of full year sales and adjusted EPS outlook; Increases share repurchase plan to at least $2 billion of shares in 2021; Increases gross merger synergies to $1.3 billion
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First quarter 2021
Sales of $15.3 billion
GAAP EPS from continuing operations of $0.51, which included $0.39 of net significant and/or non-recurring charges and acquisition accounting adjustments
Adjusted EPS of $0.90
Achieved approximately $200 million of RTX synergies
Resumed share repurchase program, and repurchased $375 million of shares
Closed on the divestiture of Forcepoint for gross proceeds of $1.1 billion
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Using research from GlobalData’s Influencer platform, Aerospace Technology has named ten of the most influential people and companies in commercial aerospace on Twitter during Q4 2020.
Biggest influencers in commercial aerospace: The top ten in Q4 2020
1.
Isaac Alexander (@jetcitystar)
Isaac Alexander is the editor-in-chief of the Jet City Star blog, where he covers news and information on aerospace, defence, and aviation from Seattle and the Puget Sound region. He previously worked as an aviation machinist’s mate or an aircraft engine mechanic for the US Navy between 2004 and 2010.
by Tyler Durden
Tuesday, Apr 27, 2021 - 08:31 AM
While we wait for the day s main earning highlight, Q1 reports from Microsoft and Google both due after the close, it s been a busy morning with some of the most prominent companies reporting earnings in the premarket. Below we summarize some of the biggest market movers:
United Parcel Service (UPS): Adj. EPS 2.77 (exp. 1.72), Revenue 22.9bn (exp. 20.49bln).
UPS soared 8.1% in premarket trading after reporting stellar results including adjusted earnings per share for the first quarter that beat the average analyst estimate.
Details:
Revenue $22.91 billion, +27% y/y, estimate $20.60 billion
U.S. package revenue $14.01 billion, +22% y/y, estimate $12.86 billion
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Raytheon Technologies Board of Directors Declares Quarterly Cash Dividend and Announces 7 Percent Quarterly Rate Increase
April 26, 2021 GMT
WALTHAM, Mass., April 26, 2021 /PRNewswire/ Raytheon Technologies Corporation (NYSE: RTX) announced today that its Board of Directors declared a dividend of 51 cents per outstanding share of RTX common stock, which represents an increase of more than 7 percent over the prior quarter’s dividend amount. The dividend will be payable on June 17, 2021 to shareowners of record at the close of business on May 21, 2021.
“The increase in our dividend reflects our long-standing commitment to deliver consistent and growing cash returns to shareowners,” said Raytheon Technologies chief executive officer Greg Hayes. “The outlook for our company is positive and we remain on track to return $18 to $20 billion to shareowners in the four years following the