Raytheon warns supply chain issues to continue into 2023

Tuesday, 08. November 2022 16:13

Raytheon Technologies Corp. Chief Financial Officer (CFO) Neil Mitchill warned on Tuesday that supply chain bottlenecks are likely to continue into the following year before the markets stabilize.

The company is "working with suppliers that are not performing and holding them accountable," the CFO said in a speech at the Baird Global Industrial Conference, adding that the supply of rocket motors will continue to be a challenge in 2023.

In October, the company reported its financial results for the third quarter of the fiscal year, revealing its sales fell short of estimates. American aerospace and defense conglomerate cited that supply chain constraints have pulled the sales down by 6% in comparison to the corresponding timeframe the year before.

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Author:
Baha Breaking News (BBN) / AB