© Reuters. A Raytheon building is shown in San Diego, California, U.S., June 10, 2019. REUTERS/Mike Blake
(Reuters) – Defense contractor Raytheon Technologies (NYSE:) Corp on Tuesday trimmed its full-year free cash flow forecast, amid inflationary pressures, higher costs and supply chain snags.
The Arlington, Virginia-based company said it lowered the outlook to about $4 billion from around $6 billion, citing a potential impact from legislation requiring capitalization of research and experimentation expenses for tax purposes.
The company in July posted lower-than-expected second-quarter revenue, hurt by global supply chain issues that dented production at the aerospace and defense firm.
Be the first to comment