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

SEC Filings

Raytheon Co

CIK: 1047122 Ticker: RTN
Exhibit 99.1

rtnlogo1a01a06a01a23.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 Second Quarter 2018 Results

Strong bookings of $8.7 billion; book-to-bill ratio of 1.31
Net sales of $6.6 billion, up 5.5 percent
EPS from continuing operations of $2.78, up 47.1 percent
Operating cash flow from continuing operations of $1.2 billion
Updated full-year 2018 guidance
__________________________________________________________________________________________________

WALTHAM, Mass., (July 26, 2018) - Raytheon Company (NYSE: RTN) today announced net sales for the second quarter 2018 of $6.6 billion, up 5.5 percent compared to $6.3 billion in the second quarter 2017. Second quarter 2018 EPS from continuing operations was $2.78 compared to $1.89 in the second quarter 2017. The increase in the second quarter 2018 EPS from continuing operations was primarily driven by lower taxes associated with tax reform, and the impact of a $1.25 billion pretax discretionary pension contribution that the company will make by September 15, 2018, using cash on hand. This discretionary contribution had a favorable tax-related EPS impact of $0.33 in the second quarter 2018 and was not included in the prior guidance.
“Raytheon delivered strong bookings, sales growth, EPS and cash generation in the second quarter,” said Thomas A. Kennedy, Raytheon Chairman and CEO. “The strength of our bookings and record backlog demonstrate the company is well positioned for future growth.”
Operating cash flow from continuing operations for the second quarter 2018 was $1,156 million compared to $782 million for the second quarter 2017. The increase in operating cash flow from continuing operations in the second quarter 2018 was primarily due to favorable collections and lower net cash taxes.
In the second quarter 2018, the company repurchased 1.9 million shares of common stock for $400 million. Year-to-date 2018, the company repurchased 3.8 million shares of common stock for $800 million.
The company had bookings of $8.7 billion in the second quarter 2018, resulting in a book-to-to bill ratio of 1.31. Second quarter 2017 bookings were $6.5 billion.


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The following information was filed by Raytheon Co (RTN) on Thursday, July 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 (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, Divestitures And Goodwill
Acquisitions, Divestitures And Goodwill (Narrative) (Details)
Acquisitions, Divestitures And Goodwill (Rollforward Of Goodwill By Segments) (Details)
Acquisitions, Divestitures 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 (Tables)
Contract Assets And Liabilities (Net Contract Assets (Liabilities)) (Details)
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 Income Taxes (Narrative) (Details)
Inventories
Inventories (Narrative) (Details)
Inventories (Schedule Of Inventories) (Details)
Inventories (Tables)
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 Contributions) (Details)
Pension And Other Employee Benefits (Schedule Of Liabilities) (Details)
Pension And Other Employee Benefits (Schedule Of Marketable Securities) (Details)
Pension And Other Employee Benefits (Tables)
Remaining Performance Obligations
Remaining Performance Obligations (Narrative) (Details)
Stockholders' Equity
Stockholders' Equity (Accumulated Other Comprehensive Income) (Details)
Stockholders' Equity (Changes In Shares Of Common Stock Outstanding) (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: 0001047122-18-000201
Submitted to the SEC: Thu Jul 26 2018 10:15:20 AM EST
Accepted by the SEC: Thu Jul 26 2018
Period: Sunday, July 1, 2018
Industry: Search Detection Navagation Guidance Aeronautical Sys

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