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Raytheon Technologies beats earnings target and raises the low end of its 2022 earnings range

raytheon-technologies-beats-earnings-target-and-raises-the-low-end-of-its-2022-earnings-range

Raytheon Technologies Corp. RTX, -1.98% shares rose 0.7% in premarket trades on Tuesday after the aerospace and defense company beat its earnings target and hiked the bottom end of its range for its 2022 profit forecast, but fell short of its third-quarter revenue mark. Raytheon said its third-quarter profit dipped 1% to $1.39 billion, or 94 cents a share, from $1.4 billion, or 93 cents a share, in the year-ago quarter. Adjusted earnings fell to $1.21 a share from $1.26 a share. Revenue rose 5% to $16.95 billion. Analysts expected Raytheon to earn $1.14 a share on revenue of $17.23 billion, according to a FactSet survey. Raytheon said it now expects 2022 earnings of $4.70 a share to $4.80 share, compared to its earlier target of $4.60 a share to $4.80 a share. Analysts are expecting Raytheon to earn $4.68 a share, according to FactSet data.

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