Business

Raytheon raises adjusted profit forecast on commercial aerospace demand By Reuters



© Reuters. FILE PHOTO: An indication marks the Raytheon places of work in Woburn, Massachusetts, U.S. January 25, 2017. REUTERS/Brian Snyder

(Reuters) -Raytheon Applied sciences Corp raised its forecast for full-year adjusted revenue on Tuesday, as rising business air journey is anticipated to spice up the demand for the aerospace and protection agency’s engines, spare components and aftermarket companies.

Demand for air journey is rising forward of the vacation season, helped by the U.S. authorities’s resolution to open its borders to vaccinated people from overseas.

Raytheon (NYSE:), whose Pratt and Whitney unit provides plane engines to firms like Boeing (NYSE:) Co, stated it expects 2021 adjusted revenue per share to be between $4.10 to $4.20, up from its prior forecast of $3.85 to $4.00 per share.

The maker of Tomahawk missiles reported internet revenue rose to$1.39 billion, or 93 cents per share, within the third quarter ended Sept. 30, from $264 million, or 17 cents per share, a 12 months earlier.

Raytheon’s quarterly income rose 9.9% to $16.21 billion.

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