RTX Updates FY2023 Adj EPS Guidance From $4.95-5.05 to $4.98-5.02 Vs $5.02 Est; FY2023 Adj. Sales Guidance From $73.00B-74.00B To $74B Vs $72.98B Est
Portfolio Pulse from Benzinga Newsdesk
Raytheon Technologies Corporation (RTX) has updated its FY2023 adjusted EPS guidance from $4.95-5.05 to $4.98-5.02, slightly below the estimated $5.02. The company also increased its FY2023 adjusted sales guidance from $73.00B-74.00B to $74B, surpassing the estimated $72.98B. RTX reported sales of approximately $68.5 billion, up from $67.5 - $68.5 billion. The company also increased its share repurchase spending from $3.0 billion to $12.8 billion.
October 24, 2023 | 11:08 am
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NEUTRAL IMPACT
RTX has updated its FY2023 EPS guidance to slightly below estimates, but increased its sales guidance above estimates. The company also significantly increased its share repurchase spending.
While the lower EPS guidance might negatively impact the stock, the increased sales guidance and share repurchase spending could offset this impact, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100