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Raytheon’s First Quarter Earnings Slip While Sales Climb

By Cal Biesecker

Thursday, April 28th, 2016

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Raytheon’s First Quarter Earnings Slip While Sales Climb

Raytheon AMRAAM air-to-air missile being fired from F-35 fighter in test in Oct. 2014. (Photo: Air Force.)

Raytheon [RTN] on Thursday reported lower earnings in the first quarter due mainly to a one-time favorable settlement a year ago on an international program and because profits were down in all but one of the company’s operating segments.Net income in the quarter plunged 22 percent to $429 million, $1.43 earnings per share (EPS), from $551 million ($1.79 EPS) a year ago, still beating analysts’ estimates of $1.38 EPS. A year ago Raytheon’s earnings benefited from a $131 million (42…

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