Raytheon (RTN) - Get Raytheon Company Report rose 1% in premarket trading after the U.S. weapons maker reported better-than-expected third-quarter profit and raised its full-year earnings and sales outlook.
Raytheon shares were up 1.2% to $206.
Sales rose 9.4% to $7.45 billion from the third quarter of 2018. EPS came in at $3.08 vs. $2.25 a year ago. Analysts were expecting EPS of $2.86 on revenue of $7.3 billion, according to FactSet.
Raytheon said it now expects 2019 sales to be between $29.1 billion and $29.4 billion, up from its previous guidance of $28.8 billion to $29.3 billion. The company also raised its full-year EPS forecast to between $11.70 and $11.80, from $11.50 to $11.70.
On Tuesday, United Technologies reported third-quarter results that topped estimates and also raised its full-year guidance. The company reported adjusted earnings of $2.21 a share, up 15% from the previous year, while revenue rose 18% year over year to $19.5 billion. Analysts were expecting the company to report earnings of $2.03 a share on revenue of $19.3 billion.
The Raytheon-United merger is expected to close in the first half of 2020, subject to regulatory and closing conditions, including the completion by United Technologies of the separation of its Otis and Carrier businesses.
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