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Raytheon Turns In Strong Third Quarter Aided By Pension Tailwind

Cal Biesecker By
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Raytheon Turns In Strong Third Quarter Aided By Pension Tailwind
Raytheon Chairman and CEO Tom Kennedy. Photo: Raytheon

Strong operating results combined with a boost from its pension plans led to higher sales and earnings at Raytheon [RTN] in the third quarter, the company said on Thursday.Net income climbed 18 percent to $529 million, $1.79 earnings per share (EPS), from $447 million ($1.47 EPS), topping consensus estimates by 13 cents per share. The bottom line was bolstered by higher segment operating income, a favorable pension recovery that added 23 cents EPS versus 9 cents EPS gain a year…

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