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Shares of Raytheon Technologies Corp. RTX,
rose 2.6% in pre-market trading on Tuesday, after the aerospace and defense company reported fourth-quarter profit and revenue that exceeded expectations, while offering mixed prospects for the first trimester. Net income fell to $ 135 million, or 9 cents per share, from $ 1.14 billion, or $ 1.32 per share, in the same period a year earlier. Excluding one-time items, such as $ 976 million in acquisition charges and accounting adjustments, adjusted earnings per share stood at 74 cents, above the FactSet consensus of 69 cents. Sales rose 40.4% to $ 16.42 billion, above the FactSet consensus of $ 16.24 billion, as Pratt & Whitney sales beat expectations while sales intelligence and space and missiles and defense were insufficient. For the first quarter, Raytheon expects adjusted EPS of 70 cents to 75 cents, versus the FactSet consensus of 70 cents, and expects sales of $ 14.8 billion to $ 15.4 billion, below expectations of $ 15.73 billion. The stock rose to 9.0% in the past three months through Monday, while the Dow Jones Industrial Average DJIA
increased by 11.8%.
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