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Raytheon’s Earnings Down, Sales Up In Second Quarter

Cal Biesecker By
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Raytheon’s Earnings Down, Sales Up In Second Quarter
Raytheon Chairman and CEO Tom Kennedy. Photo: Raytheon

Raytheon [RTN] on Thursday posted lower net income in its second quarter despite a solid increase in sales largely because last year’s results included a one-time gain from a change in an international joint venture.Net income tumbled 23 percent to $547 million, $1.89 earnings per share (EPS), from $713 million ($2.41 EPS), still topping consensus estimates by 13 cents per share. Earnings in the second quarter of 2016 benefited by $158 million (53 cents EPS) tax free gain stemming from…

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