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Sales should now amount to at least 64.4 billion US dollars (54.6 billion euros) and therefore half a billion more than before, as the parent company of engine manufacturer Pratt & Whitney and aviation supplier Collins said Tuesday in Waltham (Massachusetts, USA). Single effects adjusted EPS should now be between $3.85 and $4.00. Recently, management targeted $3.50 to $3.70. The company had already raised its targets slightly in April.
In the second quarter, Raytheon Technologies had sales of $15.9 billion, an increase of about 13 percent over the period affected by the coronavirus a year earlier. Things were getting better across the board. The net result was a $1.03 billion profit after a $3.8 billion loss a year ago in the course of Raytheon’s merger with parts of United Technologies (UTC). Without special effects such as amortization of goodwill, the profit from continuing operations was just under $1.6 billion.
Raytheon Technologies owns engine manufacturer Collins Aerospace as well as the defense, security and aerospace business of the former Raytheon Group. In the course of the merger, which took place at the beginning of April 2020, the former UTC elevator company Otis and its Carrier Refrigeration Technology division were separated. At $1.5 billion, the synergies generated by the merger is now expected to be another $200 million higher than what was announced in April.
Raytheon Technologies stock is currently trading 3.37 percent on the New York Stock Exchange at $88.85.
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