Raytheon Technologies Corp (NYSE:RTX) stock rose 1.11% (As on Jan 26, 11:26:44 AM UTC-4, Source: Google Finance) after the company posted mixed results for the fourth quarter of FY 21. Adjusted net income was $1.6 billion. Operating cash flow from continuing operations in the fourth quarter was $3.2 billion. Capital expenditures were $1.0 billion, resulting in free cash flow of $2.2 billion.

RTX in the fourth quarter of FY 21 has reported the adjusted earnings per share of $1.08, beating the analysts’ estimates for the adjusted earnings per share of $1.01, according to the Zacks Consensus Estimate. The company reported an adjusted EPS of $4.27 for full-year 2021, which improved 56% from 2020, which exceeded the Zacks Consensus Estimate of $4.19 by 1.9%. The company had reported the adjusted revenue growth of 3 percent to $17.04 billion in the fourth quarter of FY 21, missing the analysts’ estimates for revenue of $17.22 billion.

Moreover, Collins Aerospace had fourth quarter 2021 adjusted sales of $4,942 million, up 13 percent versus the prior year. The increase in sales was driven by a 47 percent increase in commercial aftermarket and a 4 percent increase in commercial OE, which more than offset a 3 percent decline in military. The increase in commercial sales was driven primarily by the recovery of commercial air traffic which has resulted in higher flight hours, aircraft fleet utilization and narrowbody OE volume, which was partially offset by lower 787 OE and F-35 volume.

Pratt & Whitney had fourth quarter 2021 adjusted sales of $5,115 million, up 14 percent versus the prior year. The increase in sales was driven by a 32 percent increase in commercial OE and a 28 percent increase in commercial aftermarket, which more than offset a 6 percent decrease in military. The increase in commercial sales was primarily due to higher shop visits and related spare part sales and commercial engine deliveries principally driven by the recovery in commercial air traffic. RIS had fourth quarter 2021 adjusted sales of $3,870 million, down 2 percent versus the prior year. The decrease in sales was primarily driven by fewer workdays in the quarter as well as the divestiture of the Global Training and Services business at the beginning of December. RMD had fourth quarter 2021 adjusted sales of $3,859 million, down 10 percent versus prior year. The decrease in sales was primarily driven by four fewer workdays in the quarter as well as lower material receipts and expected declines on several international production contracts.