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Income Down Sharply At Raytheon Technologies Amid Continued Commercial Weakness

Cal Biesecker By
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Income Down Sharply At Raytheon Technologies Amid Continued Commercial Weakness
Raytheon Technologies Chairman and CEO Greg Hayes. Photo: Raytheon Technologies

Raytheon Technologies [RTX] on Tuesday posted a steep decline in earnings in the fourth quarter driven by continued weakness in the commercial aerospace market. The weak commercial aerospace trends are expected to continue through the first quarter of 2021 but RTC executives said that as vaccinations for COVID-19 pick up, they expect commercial growth driven by aftermarket work to accelerate during the last nine months of this year. The company still believes commercial air traffic won’t return to 2019 levels…

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