Raytheon Technologies reported on Tuesday its revenue slightly missed estimates by rising 3% to $16.3 billion, with earnings per share also remaining mostly unchanged at $1.16 with a net income of $1.72 billion. However, the company maintained full-year adjusted earnings per share forecast of between $4.60 and $4.80 and sales of up to $68.75 billion.

"Looking ahead, while we expect the global supply chain environment, labor availability and inflation will remain challenging near term, we are actively engaged with our customers and suppliers to meet demand and remain cost competitive. We continue to be focused on strategic investments in technology and innovation that will drive our industry leadership today and into the future," CEO Greg Hayes noted.