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Business/Financial

Commercial Aerospace Recovery Powers Raytheon Technologies Higher In Second Quarter

By Cal Biesecker

Tuesday, July 26th, 2022

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Commercial Aerospace Recovery Powers Raytheon Technologies Higher In Second Quarter

F135, Pratt & Whitney's engine that powers the F-35. (Photo: Pratt & Whitney)

Raytheon Technologies [RTX] on Tuesday posted higher sales and earnings in its second quarter driven by the ongoing recovery in commercial air travel, but the company’s defense businesses were largely down in the period. The company’s defense business continues to be beset by supply chain challenges and labor availability, and was also impacted by delays in some contract awards, Greg Hayes, chairman and CEO of Raytheon Technologies, said on a call with analysts. For most of its commercial businesses, Raytheon…

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