RTX Corporation Earnings Call Transcripts
Fiscal Year 2026
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Strong Q1 results with 10% organic sales growth, 21% higher adjusted EPS, and record backlog. Full-year guidance for sales and EPS was raised, driven by robust demand and major defense awards, while supply chain and tariff risks are being actively managed.
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Strong macro tailwinds in both commercial aerospace and defense are driving robust backlog growth and margin expansion. Key initiatives include ramping munitions production, advancing technology roadmaps, and operational improvements through the CORE system. Execution and innovation remain top priorities.
Fiscal Year 2025
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Delivered strong Q4 and full-year results with double-digit organic growth, record backlog, and robust free cash flow. 2026 guidance calls for continued sales, margin, and cash flow expansion, supported by major investments in capacity and technology.
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Strong Q3 results with double-digit growth, robust backlog, and margin expansion set the stage for a positive year-end. Defense and commercial segments show strong demand, with ongoing investments in capacity, digitalization, and productivity. Capital allocation remains focused on investment, dividends, and debt reduction.
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Q3 saw 13% organic sales growth and 19% higher adjusted segment profit, with robust free cash flow and a record $251B backlog. Full-year sales and EPS guidance were raised, while strong demand and margin expansion continued across all segments.
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Resilience and adaptability have driven strong performance, with 8% organic sales growth and a $236 billion backlog. Investments in capacity, innovation, and supply chain health support long-term growth in both commercial and defense, while financial discipline underpins robust free cash flow and shareholder returns.
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Q2 saw 9% organic sales growth and 12% higher segment profit, with strong demand driving a $236B backlog. Full-year sales and EPS guidance were raised, while tariff headwinds are being actively mitigated. Segment performance was robust across Collins, Pratt & Whitney, and Raytheon.
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Strong demand and a $217 billion backlog drive focus on execution, innovation, and productivity. Defense growth is supported by geopolitical shifts, while commercial aerospace benefits from robust aftermarket activity and new engine programs. Margin expansion and cash flow improvement remain key priorities.
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Q1 saw 8% organic sales growth, 120 bps margin expansion, and strong free cash flow. Backlog hit $217B, with robust demand in both commercial and defense. Tariff risks remain, with $850M net impact estimated but not yet included in guidance.
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Strong 2024 results and a robust $218 billion backlog set the stage for 2025, with priorities on executing customer commitments, innovation, and operational efficiency. Defense and commercial demand remain high, GTF program improvements are on track, and margin expansion is targeted across all segments.
Fiscal Year 2024
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Delivered strong 2024 results with 11% organic sales growth, margin expansion, and record backlog. 2025 guidance calls for continued growth in sales, EPS, and free cash flow, supported by robust demand and operational improvements.
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Strong Q3 results with 8% organic sales growth, 100 bps margin expansion, and $2B free cash flow. Full-year sales and EPS guidance raised, driven by robust demand, record backlog, and continued strength in both commercial and defense segments.
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Strong demand and backlog in both commercial aerospace and defense are driving performance, with no changes to financial outlook. Strategic priorities include executing commitments, innovation, and leveraging scale, supported by significant R&D investment and operational improvements.
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Q2 2024 saw strong organic sales and margin growth across all segments, with major contract wins and robust free cash flow. Full-year sales and EPS guidance were raised, though free cash flow was revised lower due to legal and contract charges.