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Raytheon Co (RTN) SEC Filing 10-Q Quarterly report for the period ending Sunday, April 1, 2018

Raytheon Co

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CIK: 1047122 Ticker: RTN
Exhibit 99.1

rtnlogo1a01a06a01a20.jpg
 
 
Raytheon Company
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Global Headquarters
 
 
Waltham, Mass.
 
 
 
 
 
Investor Relations Contact
 
 
Kelsey DeBriyn
 
 
 
781.522.5141
 
 
 
 
 
 
 
Media Contact
 
 
 
Corinne Kovalsky
 
 
 
781.522.5899
For Immediate Release

Raytheon Reports Strong First Quarter 2018 Results

•
Net sales of $6.3 billion, up 4.5 percent
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EPS from continuing operations of $2.20, up 27.2 percent
•
Operating cash flow from continuing operations of $283 million
•
Increased annual dividend by 8.8 percent, as previously announced
•
Increased full-year 2018 guidance for sales and EPS
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WALTHAM, Mass., (April 26, 2018) - Raytheon Company (NYSE: RTN) today announced net sales for the first quarter 2018 of $6.3 billion, up 4.5 percent compared to $6.0 billion in the first quarter 2017. First quarter 2018 EPS from continuing operations was $2.20 compared to $1.73 in the first quarter 2017. The increase in the first quarter 2018 EPS from continuing operations was primarily driven by operational improvements and lower taxes.
“We delivered strong operating performance in the first quarter with our sales, earnings per share and cash flow all ahead of our expectations,” said Thomas A. Kennedy, Raytheon Chairman and CEO. “We continue to position the company for the future by executing our strategy and investing in advanced capabilities that align with our global customers’ evolving requirements.”
Operating cash flow from continuing operations for the first quarter 2018 was $283 million compared to an outflow of $41 million for the first quarter 2017. The increase in operating cash flow from continuing operations in the first quarter 2018 was primarily due to favorable collections and lower net cash taxes.
In the first quarter 2018, the company repurchased 1.9 million shares of common stock for $400 million. In addition, as previously announced, Raytheon’s Board of Directors voted to increase the annual dividend rate by 8.8 percent, from $3.19 to $3.47 per share, the fourteenth consecutive annual dividend increase.
The company had bookings of $6.3 billion in the first quarter 2018, compared with $5.7 billion in the first quarter 2017.


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The following information was filed by Raytheon Co (RTN) on Thursday, April 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Raytheon Co's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (unaudited)
Consolidated Balance Sheets (unaudited) (parenthetical)
Consolidated Statements Of Cash Flows (unaudited)
Consolidated Statements Of Comprehensive Income (loss) (unaudited)
Consolidated Statements Of Equity (unaudited)
Consolidated Statements Of Operations (unaudited)
Accounting Standards
Accounting Standards (narrative) (details)
Accounting Standards (new Accounting Pronouncement, Impact, Asu 2017-07) (details)
Accounting Standards (tables)
Acquisitions And Goodwill
Acquisitions And Goodwill (narrative) (details)
Acquisitions And Goodwill (rollforward Of Goodwill By Segments) (details)
Acquisitions And Goodwill (tables)
Basis Of Presentation
Business Segment Reporting
Business Segment Reporting (components Of Fas/cas Operating Adjustment) (details)
Business Segment Reporting (disaggregation Of Revenue) (details)
Business Segment Reporting (segment Results) (details)
Business Segment Reporting (tables)
Business Segment Reporting (total Assets) (details)
Changes In Estimates Under Percentage Of Completion Contract Accounting
Changes In Estimates Under Percentage Of Completion Contract Accounting (narrative) (details)
Changes In Estimates Under Percentage Of Completion Contract Accounting (net Eac Adjustments) (details)
Changes In Estimates Under Percentage Of Completion Contract Accounting (tables)
Commitments And Contingencies
Commitments And Contingencies (estimates Of Total Remediation Costs) (details)
Commitments And Contingencies (narrative) (details)
Commitments And Contingencies (stated Values Outstanding) (details)
Commitments And Contingencies (tables)
Contract Assets And Contract Liabilities
Contract Assets And Contract Liabilities (narrative) (details)
Contract Assets And Contract Liabilities (net Contract Assets Liabilities) (details)
Contract Assets And Contract Liabilities (tables)
Deferred Commissions
Deferred Commissions (narrative) (details)
Derivative And Other Financial Instruments
Derivative And Other Financial Instruments (narrative) (details)
Derivative And Other Financial Instruments (schedule Of Long-term Debt Details) (details)
Derivative And Other Financial Instruments (supplemental Cash Flow Information) (details)
Derivative And Other Financial Instruments (tables)
Earnings Per Share (eps)
Earnings Per Share (eps) (eps From Continuing Operations) (details)
Earnings Per Share (eps) (income From Participating Securities) (details)
Earnings Per Share (eps) (narrative) (details)
Earnings Per Share (eps) (tables)
Earnings Per Share (eps) (weighted-average Shares) (details)
Forcepoint Joint Venture
Forcepoint Joint Venture (narrative) (details)
Forcepoint Joint Venture (redeemable Noncontrolling Interest Rollforward) (details)
Forcepoint Joint Venture (tables)
Income Taxes
Income Taxes (narrative) (details)
Inventories
Inventories (schedule Of Inventories) (details)
Inventories (tables)
Inventory (narrative) (details)
Pension And Other Employee Benefits
Pension And Other Employee Benefits (narrative) (details)
Pension And Other Employee Benefits (schedule Of Components Of Net Periodic Benefit Cost) (details)
Pension And Other Employee Benefits (schedule Of Marketable Securities) (details)
Pension And Other Employee Benefits (schedule Of Pension And Prb Contributions) (details)
Pension And Other Employee Benefits (schedule Of Pension And Prb Liabilities) (details)
Pension And Other Employee Benefits (tables)
Remaining Performance Obligations
Remaining Performance Obligations (narrative) (details)
Stockholders' Equity
Stockholders' Equity (changes In Shares Of Common Stock Outstanding) (details)
Stockholders' Equity (comprehensive Income) (details)
Stockholders' Equity (narrative) (details)
Stockholders' Equity (repurchases Of Common Stock) (details)
Stockholders' Equity (tables)
Ticker: RTN
CIK: 1047122
Form Type: 10-Q Quarterly Report
Accession Number: 0001047122-18-000128
Submitted to the SEC: Thu Apr 26 2018 10:11:46 AM EST
Accepted by the SEC: Thu Apr 26 2018
Period: Sunday, April 1, 2018
Industry: Search Detection Navagation Guidance Aeronautical Sys

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