Raytheon and Getty Images
Raytheon's Patriot Missile System

Raytheon Reports Record 2019 Second Quarter

July 29, 2019
With its United Technologies merger looming, the company posted strong Q2 results.

Diversified defense contractor Raytheon Company revealed outstanding corporate performance for the second quarter of 2019, including bookings of $9.5 billion and a book-to-bill ratio of 1.32.  Net sales for the second quarter of 2019 were $7.2 billion, an increase of 8.1% compared to the $6.6 billion in sales for the company during the second quarter of 2018. For the second quarter of 2019, Raytheon achieved operating cash flow of $823 million from continuing operations, with earnings per share (EPS) of $2.92 from continuing operations, an increase of 5% over the EPS results of the second quarter of 2018 ($2.78). This increase in the second-quarter 2019 EPS stems from operational improvements and pension-related items, such as the favorable tax-related impact of a discretionary pension plan contribution.

Development and delivery of advanced systems such as the Patriot Missile System have helped boost strong growth for Raytheon Co. during the second quarter of 2019 (Courtesy: Raytheon Co.)

The company’s ongoing performance also appears strong, as previously announced merger activities, such as Raytheon and United Technologies, are on schedule to occur during the first half of 2020. “The company had very strong second quarter operating results, with our bookings, sales, operating margin, EPS, and cash flow all exceeding our expectations,” said Thomas A. Kennedy, Raytheon chairman and CEO. “We begin the second half with continued confidence in our growth outlook given our innovative technologies, breadth of franchises, and record backlog,  Integration planning for the merger with United Technologies is progressing well, with the integration team developing detailed execution plans to capture revenue and cost synergies rapidly and ensure seamless operations past close.”

About the Author

Jack Browne | Technical Contributor

Jack Browne, Technical Contributor, has worked in technical publishing for over 30 years. He managed the content and production of three technical journals while at the American Institute of Physics, including Medical Physics and the Journal of Vacuum Science & Technology. He has been a Publisher and Editor for Penton Media, started the firm’s Wireless Symposium & Exhibition trade show in 1993, and currently serves as Technical Contributor for that company's Microwaves & RF magazine. Browne, who holds a BS in Mathematics from City College of New York and BA degrees in English and Philosophy from Fordham University, is a member of the IEEE.

Sponsored Recommendations

Ultra-Low Phase Noise MMIC Amplifier, 6 to 18 GHz

July 12, 2024
Mini-Circuits’ LVA-6183PN+ is a wideband, ultra-low phase noise MMIC amplifier perfect for use with low noise signal sources and in sensitive transceiver chains. This model operates...

Turnkey 1 kW Energy Source & HPA

July 12, 2024
Mini-Circuits’ RFS-2G42G51K0+ is a versatile, new generation amplifier with an integrated signal source, usable in a wide range of industrial, scientific, and medical applications...

SMT Passives to 250W

July 12, 2024
Mini-Circuits’ surface-mount stripline couplers and 90° hybrids cover an operational frequency range of DC to 14.5 GHz. Coupler models feature greater than 2 decades of bandwidth...

Transformers in High-Power SiC FET Applications

June 28, 2024
Discover SiC FETs and the Role of Transformers in High-Voltage Applications