Raytheon Technologies Reports Increased Sales, Earnings

Tuesday, January 25, 2022 at 06:38 PM ET

Verified

An operator reaches for an automated torque tool at Raytheon Intelligence and Space's Advanced Integration and Manufacturing Center in McKinney, Texas [Credit: Raytheon Technologies]

Key Takeaways:

Raytheon Technologies reported increased net income and sales for both Q4 and the full year, largely propelled by the recovery of domestic short-haul air travel and strong contributions from its Collins Aerospace and Pratt & Whitney divisions.
Despite positive financial growth, the company noted that global supply chain difficulties continued to slow overall results.
Looking ahead, Raytheon issued a positive forecast for 2022, anticipating further increases in sales, earnings, and free cash flow, along with plans to repurchase at least $3.5 billion in shares.

See a mistake? Contact us.

Raytheon Technologies Corp., an aerospace and defense company, said its fourth-quarter net income increased, driven in part by the recovery of the domestic short-haul air travel industry. However, difficulties in the global supply chain continued to slow results overall.

Adjusted net income for the quarter totaled $1.61 billion, or $1.08 per share, compared with $1.12 billion, or 74 cents per share, during the same period in 2020. Sales grew 3 percent to $17.04 billion from $16.58 billion.