Raytheon Technologies Reports Increased Sales, Earnings

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

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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 fourth-quarter net income and sales, primarily driven by the recovery of domestic short-haul air travel and strong performance from its Collins Aerospace and Pratt & Whitney divisions, despite global supply chain difficulties.
The company also achieved significant full-year growth in net income and sales, benefiting from increased demand for aerospace parts and services.
Raytheon forecasts continued financial growth in 2022, projecting increases in sales, earnings per share, and free cash flow, alongside plans to repurchase at least $3.5 billion of its shares.

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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.