Radeon Technologies is backed by a resumption of air service

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NEW YORK (awp / dpa) – US space and defense company Radeon Technologies has helped recovery in aviation, boosted sales and profits in the third quarter and boosted its profit forecast for the year.

As a result of the merger of Radion and United Technologies in 2020, the group’s revenue increased 10% to $ 16.2 billion (14.9 billion Swiss francs), slightly lower than analysts (16.36 billion).

The Collins Aerospace (aviation, information systems, etc.) and Brad & Whitney (aircraft engines) branches, which suffered a sharp decline in air traffic at the onset of the epidemic, continue to recover with increased sales of 7% and 35%, respectively. Respectively.

As aircraft return to the skies, companies need more maintenance and spare parts, especially Raytheon.

The segment dedicated to communications technologies, cyber security and space saw its sales stagnate, while its sales dedicated to missiles and defense increased by 5%.

The group’s net profit was $ 1.4 billion, almost tenfold compared to the same period in 2020. Excluding reported and exceptional items per share, the profit was recorded at $ 1.26 or higher than the $ 1.08 expected by analysts.

The group, which had already revised its expectations for 2021 at the end of the first and second quarters, now expects a share return of $ 4.10 to $ 4.20 against $ 3.95 and $ 4, respectively.

Raytheon predicts that its sales will reach $ 64.5 billion by 2021, well below the previous forecast range ($ 64.4 billion to $ 65.4 billion).

The headline fell 1.05% in the first trade of the session on the New York Stock Exchange.

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afp / md

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About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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