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Raytheon Cuts 2022 Sales Forecast on Impact of Russia Sanctions

  • Company says supply constraints may limit production
  • Higher defense spending seen bolstering long-term prospects
Updated on

Aerospace and defense giant Raytheon Technologies Corp. cut its 2022 sales forecast and warned of potential supplier constraints as it ends commercial ties with Russian customers and a titanium supplier.

“We’re done in Russia. Full stop,” Raytheon’s Chief Executive Officer Greg Hayes said of the aerospace and defense conglomerate’s dealings with Russia in the wake of the nation’s invasion of Ukraine and sanctions imposed by the U.S., Canada and European Union. “We aren’t going back.”