⁍ aero parts maker Raytheon Technologies Corp on Tuesday reported a 77% drop in third-quarter profit.
⁍ Lower demand from airlines as the COVID-19 pandemic ravaged air travel.
⁍ Net income attributable to common shareowners fell to $264 million, or 17 cents per share.
– Raytheon’s third-quarter profit fell 77%, hurt by lower demand from airlines as the COVID-19 pandemic ravaged air travel, Reuters reports. Net income attributable to common shareowners fell to $264 million, or 17 cents per share, in the quarter ended Sept. 30, from $1.15 billion, or $1.34 per share, earlier in the year.
Source: https://www.reuters.com/article/raytheon-tech-results/raytheon-profit-falls-77-on-lower-aero-parts-sales-idUSL4N2HI2Y7