Defense Business Boomed at Raytheon in 2022 -- Or Did It?
Defense giant and airplane engines supplier Raytheon Technologies (NYSE: RTX) reported its Q4 and full-year 2022 earnings last week, and judging by the response, it was a success.
Investors bid up Raytheon stock by 4% in the two days after earnings came out, despite the fact that Raytheon seems to have missed analyst targets for Q4 revenue (collecting only $18.1 billion, where Wall Street had predicted $18.5 billion), and only barely beat on "adjusted" (i.e. non-GAAP) earnings -- $1.27 per share versus the expected $1.24.
Many commenters seem to be crediting Raytheon's defense business for the beat, but is that really the case?
Source Fool.com