Raytheon, the world's 5th largest defense contractor, reported third quarter earnings on 10/26/2017. Earnings per share of $1.97 was a beat of estimates by 6 cents. Revenue in the quarter came in at $6.3 billion. This was an improvement of 4.5% from Q3 2016, but came up $30 million short of analyst's expectations. The company also raised EPS guidance for this year from $7.35-$7.50 to $7.45-$7.55 while narrowing its sales guidance from $25.1-$25.6 billion to $25.3-$25.6 billion. This is a 5%-6% increase from last year's sales. Consensus expectations for EPS in 2017, however, is $7.58. The company's backlog improved by a billion dollars to $36.7 billion. A little more than 40% of this backlog comes from international customers, primarily from U.S. allies in the Middle East. This figured has doubled since 2012. Let's look a little deeper at how each division of Raytheon performed in Q3.

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