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Raytheon Co (RTN) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

SEC Filings

Raytheon Co

CIK: 1047122 Ticker: RTN
Exhibit 99.1

rtnlogo1a01a06a01a29.jpg
 
 
Raytheon Company
rtnline1a01a06a01a29.jpg
 
 
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 2019 Results

Net sales of $6.7 billion, up 7.4 percent
EPS from continuing operations of $2.77, up 25.9 percent
Increased annual dividend by 8.6 percent, as previously announced
__________________________________________________________________________________________________

WALTHAM, Mass., (April 25, 2019) - Raytheon Company (NYSE: RTN) today announced net sales for the first quarter 2019 of $6.7 billion, up 7.4 percent compared to $6.3 billion in the first quarter 2018. First quarter 2019 EPS from continuing operations was $2.77 compared to $2.20 in the first quarter 2018. The increase in the first quarter 2019 EPS from continuing operations was primarily driven by operational improvements and pension-related items.
“We delivered strong operating performance in the first quarter with our company bookings, sales, earnings per share and cash flow all ahead of our expectations,” said Thomas A. Kennedy, Raytheon Chairman and CEO. “The Raytheon team remains focused on driving strong execution and future growth by developing and delivering innovative solutions that address our customers’ most complex challenges.”
Operating cash flow from continuing operations for the first quarter 2019 was an outflow of $411 million compared to an inflow of $283 million for the first quarter 2018. The decrease in operating cash flow from continuing operations in the first quarter 2019 was primarily due to higher net cash taxes and the timing of payments. Operating cash flow from continuing operations for the first quarter 2019 was better than the company’s prior guidance.
In the first quarter 2019, the company repurchased 2.8 million shares of common stock for $500 million. In addition, as previously announced, Raytheon’s Board of Directors voted to increase the annual dividend rate by 8.6 percent, from $3.47 to $3.77 per share, the fifteenth consecutive annual dividend increase.
The company had bookings of $5.4 billion in the first quarter 2019, compared with $6.3 billion in the first quarter 2018.


1

The following information was filed by Raytheon Co (RTN) on Thursday, April 25, 2019 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)
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 (Net Contract Assets Liabilities) (Details)
Contract Assets And Contract Liabilities (Tables)
Deferred Commissions
Deferred Commissions (Narrative) (Details)
Derivative And Other Financial Instruments (Schedule Of Long-Term Debt Details) (Details)
Derivatives And Other Financial Instruments
Derivatives And Other Financial Instruments (Narrative) (Details)
Derivatives And Other Financial Instruments (Schedule Of Derivative Assets And Liabilities) (Details)
Derivatives 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)
Income Taxes
Income Taxes (Narrative) (Details)
Inventories
Inventories (Narrative) (Details)
Inventories (Schedule Of Inventories) (Details)
Inventories (Tables)
Leases
Leases (Components Of Lease Expense) (Details)
Leases (Future Lease Payments) (Details)
Leases (Narrative) (Details)
Leases (Operating Lease Liabilities Recognized On Balance Sheet) (Details)
Leases (Other Information Related To Operating Leases) (Details)
Leases (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 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)
Redeemable Noncontrolling Interests
Redeemable Noncontrolling Interests (Narrative) (Details)
Redeemable Noncontrolling Interests (Redeemable Noncontrolling Interests Rollforward) (Details)
Redeemable Noncontrolling Interests (Tables)
Remaining Performance Obligations
Remaining Performance Obligations (Narrative) (Details)
Significant Accounting Policies Update
Significant Accounting Policies Update (Policies)
Stockholders' Equity
Stockholders' Equity (Changes In Shares Of Common Stock Outstanding) (Details)
Stockholders' Equity (Narrative) (Details)
Stockholders' Equity (Repurchases Of Common Stock) (Details)
Stockholders' Equity (Schedule Of Accumulated Other Comprehensive Income) (Details)
Stockholders' Equity (Tables)
Ticker: RTN
CIK: 1047122
Form Type: 10-Q Quarterly Report
Accession Number: 0001047122-19-000126
Submitted to the SEC: Thu Apr 25 2019 6:30:02 AM EST
Accepted by the SEC: Thu Apr 25 2019
Period: Sunday, March 31, 2019
Industry: Search Detection Navagation Guidance Aeronautical Sys

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