Raytheon trims full-year free cash flow outlook

Defense contractor Raytheon Technologies 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.