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BRIEF-Raytheon Technologies CEO Says Remain Confident In Ability To Deliver On Synergy Targets, Which Is Over $1 Bln In Gross Savings

Reuters ·  Jul 28, 2020 21:38

July 28 (Reuters) - Raytheon Technologies Corp RTX.N :

* RAYTHEON TECHNOLOGIES CEO SAYS REMAIN CONFIDENT IN ABILITY TO DELIVER ON SYNERGY TARGETS, WHICH IS OVER $1 BILLION IN GROSS SAVINGS - CONF CALL

* RAYTHEON TECHNOLOGIES CEO SAYS ON TRACK TO ACHIEVE $2 BILLION IN COST SAVINGS THIS YEAR & $4 BILLION IN CASH CONSERVATION ACTIONS BY END OF YEAR

* RAYTHEON TECHNOLOGIES CEO - EFFECTS OF PANDEMIC ON ECONOMY, COMMERCIAL AEROSPACE PROVEN TO BE LOT WORSE THAN ORIGINALLY PROJECTED EVEN FEW MONTHS AGO

* RAYTHEON TECHNOLOGIES CEO SAYS NOW WOULD EXPECT IT WILL TAKE AT LEAST UNTIL 2023 FOR COMMERCIAL AIR TRAFFIC TO RECOVER TO 2019 LEVELS

* RAYTHEON TECHNOLOGIES - QTRLY MILITARY SALES WERE UP 10%, DRIVEN BY STRENGTH ACROSS KEY PLATFORMS & PRODUCT LINES, INCLUDING HIGHER F-35 VOLUME

* RAYTHEON TECHNOLOGIES - PRATT & WHITNEY SEGMENT QTRLY MILITARY SALES WERE UP 11%, ON HIGHER AFTERMARKET SALES, INCREASED F135 PRODUCTION VOLUME

* RAYTHEON TECHNOLOGIES - MILITARY PROGRAM GROWTH REMAINS ROBUST, BOTH DOMESTICALLY AND INTERNATIONALLY

* RAYTHEON TECHNOLOGIES - WHILE AIR TRAVEL TRENDS ACROSS THE GLOBE ARE GENERALLY IMPROVING, RECOVERY IS SLOW

* RAYTHEON TECHNOLOGIES - EXPECT TO SEE A GRADUAL RECOVERY IN Q4 IN COLLINS COMMERCIAL AFTERMARKET SALES

* RAYTHEON TECHNOLOGIES - FOR EPS, EXPECT Q3 TO GENERALLY BE IN LINE WITH Q2 WITH SOME PUTS AND TAKES AND THEN A GRADUAL RECOVERY BEGINNING IN Q4

* RAYTHEON TECHNOLOGIES - PRATT & WHITNEY SEGMENT IS FULLY ALIGNED WITH AIRBUS DELIVERIES THIS YEAR & NEXT YEAR

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