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Business/Financial

RTC Doesn’t Offer 2020 Outlook Due To COVID Uncertainty But Says Defense Remains Strong

By Cal Biesecker

Thursday, May 7th, 2020

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RTC Doesn’t Offer 2020 Outlook Due To COVID Uncertainty But Says Defense Remains Strong

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

Raytheon Technologies Corp. [RTX] on Thursday said it isn’t providing financial guidance yet for 2020 because the impacts of the COVID-19 pandemic on the commercial aerospace market have created significant uncertainty but the company’s outlook for its defense businesses is largely intact and strong. RTC said it would revisit providing guidance for this year when it reports second quarter results this summer. The company’s internal responses to the pandemic, such as increased teleworking, social distancing, enhanced cleaning of facilities, routine…

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