Raytheon net income jumps; raises 2021 outlook

Raytheon Technologies Corp. RTX, -0.61% said Tuesday its third-quarter nett income accrued sharply to $1.4 billion, oregon 93 cents a share, from $151 million, oregon 10 cents a stock successful the year-ago period. The aerospace and defence contractor's adjusted nett roseate to $1.26 a stock from 56 cents a share. Sales accrued to $16.21 billion, from $14.747 billion. Analysts were expecting a nett of $1.09 a stock connected gross of $16.399 billion, according to a FactSet survey. Citing accrued request for its products, Raytheon accrued its 2021 nett forecast to betwixt $4.10 and $4.20 a share, from its earlier presumption of $3.85 to $4 a share. Analysts expected the institution to gain $4.06 a share. Raytheon banal roseate 0.6% successful premarket trades. The banal is up 27.7% this year, compared to a emergence of 20.6% by the S&P 500.