Raytheon says Q1 sales, profit likely above guidance, CFO steps down

Raytheon Technologies Corp.

said late Friday it is likely to report first-quarter results above guidance, and announced that it had a new chief financial officer. Raytheon previously called for first-quarter sales between $14.8 billion and $15.4 billion, and first-quarter adjusted per-share earnings between 70 cents and 75 cents. Based on preliminary results, sales are likely to come in above the guidance’s mid-point, and adjusted EPS is likely to come in between 87 cents and 90 cents, Raytheon said. In the same statement, the company said that Chief Financial Officer Anthony O’Brien has stepped down, and that Neil Mitchill, the vice president of financial planning and investor relations, has been appointed as his replacement. Mitchill will report directly to Chief Executive Officer Greg Hayes. Mitchill was named in 2019 as the acting senior vice president and CFO of United Technologies Corp., a role in which he served until the merger between the two companies. Raytheon shares rose 0.4% after the news, and ended the regular trading session up 1.1%.

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