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Raytheon Technologies’ Profit Falls On Continued Weakness In Commercial Market

By Cal Biesecker

Tuesday, October 27th, 2020

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Raytheon Technologies’ Profit Falls On Continued Weakness In Commercial Market

Raytheon Technologies Chairman and CEO Greg Hayes. Photo: Raytheon Technologies

Raytheon Technologies [RTX] on Tuesday reported lower third quarter earnings due to continued weakness in commercial aerospace although the results, adjusted for various charges, topped analysts’ expectations. Net income in the quarter of $264 million, 17 cents earnings per share (EPS), was down 76 percent from $1.1 billion ($1.33 EPS) a year ago. Excluding discontinued operations, namely Otis and Carrier segments of the former United Technologies Corp., and charges related to the COVID-19 impacts on the economy, accounting adjustments and…

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