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Commercial Woes Trip Raytheon Technologies In Second Quarter

Cal Biesecker By
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Commercial Woes Trip Raytheon Technologies In Second Quarter
Raytheon Technologies Chairman and CEO Greg Hayes. Photo: Raytheon Technologies

Raytheon Technologies [RTX] on Tuesday said it swung to a loss in the second quarter largely due to a slump in commercial aerospace triggered by the ongoing COVID-19 pandemic while the defense businesses performed well. The commercial outlook remains weak and the company has achieved its cost savings synergies for the year. Sales in the quarter were $14.1 billion, and included $6.7 billion from the former Raytheon Co., which was acquired by United Technologies Corp. at the start of the…

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