The Raytheon stand is seen at the 53rd International Paris Air Show at Le Bourget Airport near Paris, France June 21, 2019. REUTERS/Pascal Rossignol/File Photo
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April 26 – Aerospace and defense firm Raytheon Technologies Corp (RTX.N) lowered its full-year revenue forecast on Tuesday, hurt by the cessation of its activities in Russia.
Russia has been hit by Western sanctions over its invasion of Ukraine, leading to a large number of U.S. companies severing ties with Moscow, and the aviation industry is among the sectors severely impacted.
Raytheon expects full-year revenue to be between $67.75 billion and $68.75 billion, lower than its previous forecast of $68.5 billion to $69.5 billion.
However, the company said revenue rose 3% to $15.72 billion in the quarter, driven by a recovery in air travel demand, which boosted sales of its aerospace products and services.
Raytheon posted…
