Raytheon Technologies Corp. posted sales of $18.1 billion in the fourth quarter of 2022, an increase of 6% compared to the same period in 2021, narrowly missing expectations. Net income surged 108% to 1.4 billion, with the earnings per share (EPS) jumping 109% to $0.96. For the whole year 2022, revenue stood at $67.1 billion, up 4% year-on-year, with net income rising 34% to $5.2 billion, and EPS increasing 36% to $3.51.
In 2023, the company expects sales between $72 billion and $73 billion, with a free cash flow of approximately $4.8 billion and a share repurchase program worth $3 billion. "We are deploying capital investments to bring new technologies to market and accelerate productivity improvement, all while remaining committed to returning at least $20 billion to our shareowners post-merger through early 2024," CEO Greg Hayes said.
Raytheon stock went up by 0.51% in premarket trade after the earnings release.
