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US aerospace and defense contractor Raytheon’s profit rose as it sold more jet engines, parts and aftermarket services to airlines in 2022 amid strong demand for global air travel.

The results followed strong sales of fighter jets, helicopters and missiles, including those sent to the Ukrainian military, which helped Lockheed Martin’s earnings beat Wall Street expectations in the fourth quarter.

Raytheon’s jet engine unit Pratt & Whitney’s operating profit rose 127 percent to $306 million from the same period last year, driven by higher commercial aftermarket sales. Pratt & Whitney’s revenue rose 10 percent to $5.65 billion, driven by a 37 percent increase in commercial original equipment components.

Lockheed reported revenue of $19 billion for the final quarter last year, up more than 7 percent from $17.7 billion in the same period in 2021. Earnings per share fell to $7.40 from $7.47 as the company took a $129 million charge, mostly $100 million. in its helicopter business for severance costs and asset impairments.

While Raytheon’s missile sales rose 6 percent to $4.1 billion in the quarter, profit fell 23 percent due to inefficiencies and costs from divestitures. Raytheon’s missiles include the Stinger and Javelin, the latter of which was produced in partnership with Lockheed Martin and played a crucial role in the start of the war in Ukraine.

Lockheed’s quarterly sales growth was driven by $275 million in net sales of the group’s F-35 fighter jet and $260 million in various integrated military systems and sensors.

Also added to the top line was $115 million for tactical and strike missiles, including the multiple launch guided missile systems that Ukrainian troops fire from the High Mobility Artillery Missile System (Himars) to repel Russian forces.



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