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RTX delivers double-digit sales and earnings growth in Q2;
Raises 2026 outlook for adjusted sales*, adjusted EPS*, and free cash flow*

, /PRNewswire/ -- RTX (NYSE: RTX) reports second quarter 2026 results.

Second quarter 2026

Sales of $24.7 billion, up 14 percent versus prior year, and up 16 percent organically* GAAP EPS of $1.57, including $0.27 of acquisition accounting adjustments and $0.05 of restructuring and other net significant and/or non-recurring items Adjusted EPS* of $1.89, up 21 percent versus prior year Operating cash flow of $3.5 billion; free cash flow* of $2.9 billion Company backlog of $289 billion, including $170 billion of commercial and $119 billion of defense Reached an agreement to sell Raytheon's Blue Canyon Technologies business for $620 million Updates outlook for full year 2026

Adjusted sales* of $95.0 - $96.0 billion, up from $92.5 - $93.5 billion Organic sales growth* of 8 to 9 percent, up from 5 to 6 percent Adjusted EPS* of $7.10 - $7.25, up from $6.70 - $6.90 Free cash flow* of $8.50 - $8.75 billion, up from $8.25 - $8.75 billion "RTX delivered very strong second quarter results with 16 percent organic sales growth,* including double-digit commercial aftermarket and defense growth, margin expansion across all three segments, and $2.9 billion of free cash flow.* Demand remains robust, and our backlog is up 22 percent year over year," said RTX Chairman and CEO Chris Calio.

"Given our first half performance and current backlog, we are raising our full year outlook for adjusted sales,* adjusted EPS,* and free cash flow.* RTX is exceptionally well positioned to drive continued growth as we execute on our backlog, increase productivity, expand capacity, and introduce new technologies to our customers."

Second quarter 2026

RTX second quarter reported and adjusted sales* were $24.7 billion, up 14 percent over the prior year and 16 percent organically.* GAAP EPS of $1.57 included $0.27 of acquisition accounting adjustments and $0.05 of restructuring and other net significant and/or non-recurring items. Adjusted EPS* of $1.89 was up 21 percent versus the prior year.

The company reported net income attributable to common shareowners in the second quarter of $2.1 billion which included $0.4 billion of acquisition accounting adjustments and $0.1 billion of restructuring and other net significant and/or non-recurring items. Adjusted net income* of $2.6 billion was up 22 percent versus the prior year driven by adjusted segment operating profit growth* across all three segments. Operating cash flow in the second quarter was $3.5 billion and capital expenditures were $0.7 billion, resulting in free cash flow* of $2.9 billion.

Summary Financial Results

2nd Quarter

($ in millions, except EPS)

2026

2025

% Change

Reported

Sales

$   24,708

$   21,581

14 %

Net Income

$     2,139

$     1,657

29 %

EPS

$       1.57

$       1.22

29 %

Adjusted*

Sales

$   24,708

$   21,581

14 %

Net Income

$     2,579

$     2,118

22 %

EPS

$       1.89

$       1.56

21 %

Operating Cash Flow

$     3,547

$       458

674 %

Free Cash Flow*

$     2,878

$        (72)

NM

NM = Not Meaningful 

Segment Results 

Collins Aerospace

2nd Quarter

($ in millions)

2026

2025

% Change

Reported

Sales

$  8,210

$  7,622

8 %

Operating Profit

$  1,306

$  1,173

11 %

ROS

15.9 %

15.4 %

50

bps

Adjusted*

Sales

$  8,210

$  7,622

8 %

Operating Profit

$  1,370

$  1,249

10 %

ROS

16.7 %

16.4 %

30

bps

Collins Aerospace second quarter 2026 reported and adjusted sales* of $8,210 million were up 8 percent versus the prior year. Excluding the impact of divestitures, sales increased 13 percent organically* driven by a 26 percent increase in commercial OE, a 10 percent increase in commercial aftermarket, and a 7 percent increase in defense. The increase in commercial OE sales was driven by higher volume on narrowbody and widebody platforms, and the increase in commercial aftermarket sales was primarily driven by growth in parts and repair and modifications and upgrades. The increase in defense sales was driven by higher volume across multiple programs.

Collins Aerospace reported operating profit of $1,306 million was up 11 percent versus the prior year. Adjusted operating profit* of $1,370 million was up 10 percent versus the prior year. The growth was driven by drop through on higher commercial and defense volume, which was partially offset by defense mix, higher SG&A expense, and the impact of divestitures completed in 2025. Reported operating profit in Q2 2026 included higher restructuring charges associated with cost transformation initiatives.

Pratt & Whitney

2nd Quarter

($ in millions)

2026

2025

% Change

Reported

Sales

$  8,889

$  7,631

16 %

Operating Profit

$     738

$     492

50 %

ROS

8.3 %

6.4 %

190

bps

Adjusted*

Sales

$  8,889

$  7,631

16 %

Operating Profit

$     740

$     608

22 %

ROS

8.3 %

8.0 %

30

bps

Pratt & Whitney second quarter reported and adjusted sales* of $8,889 million were up 16 percent versus the prior year. The sales growth was driven by a 25 percent increase in commercial aftermarket and a 23 percent increase in military, partially offset by an 8 percent decrease in commercial OE. The increase in commercial aftermarket was driven by higher volume, while the increase in military sales was driven by higher F135 volume, including the benefit of prior year contract award timing. The decrease in commercial OE sales was driven by large commercial engine mix which more than offset increased large commercial engine deliveries. 

Pratt & Whitney reported operating profit of $738 million was up 50 percent versus the prior year. Q2 2025 reported profit included an approximately $100 million charge related to a customer bankruptcy. Adjusted operating profit* of $740 million was up 22 percent versus the prior year. The increase was driven by drop through on higher commercial aftermarket and military volume, as well as military mix. This growth was partially offset by increased large commercial engine deliveries, large commercial engine mix, and higher SG&A expense.

Raytheon

2nd Quarter

($ in millions)

2026

2025

% Change

Reported

Sales

$  8,269

$  7,001

18 %

Operating Profit

$  1,042

$     805

29 %

ROS

12.6 %

11.5 %

110

bps

Adjusted*

Sales

$  8,269

$  7,001

18 %

Operating Profit

$  1,043

$     809

29 %

ROS

12.6 %

11.6 %

100

bps

Raytheon second quarter reported and adjusted sales* of $8,269 million were up 18 percent versus the prior year. This increase was driven by higher volume on land and air defense systems, naval programs, and air and space defense systems, including Patriot, Standard Missile, and AMRAAM. 

Raytheon reported operating profit of $1,042 million was up 29 percent versus the prior year. Adjusted operating profit* of $1,043 million was up 29 percent versus the prior year. The increase was driven by higher volume, favorable mix, including Patriot programs, and improved net productivity.

*Adjusted net sales (also referred to as adjusted sales), organic sales, adjusted operating profit (loss) and margin percentage (ROS), segment operating profit (loss) and margin percentage (ROS), adjusted segment sales, adjusted segment operating profit (loss) and margin percentage (ROS), adjusted net income, adjusted earnings per share ("EPS"), adjusted effective tax rate, and free cash flow are non-GAAP financial measures. When we provide our expectation for adjusted net sales (also referred to as adjusted sales), adjusted EPS and free cash flow on a forward-looking basis, a reconciliation of these non-GAAP financial measures to the corresponding GAAP measures (expected diluted EPS and expected cash flow from operations) is not available without unreasonable effort due to potentially high variability, complexity, and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results. See "Use and Definitions of Non-GAAP Financial Measures" below for information regarding non-GAAP financial measures.

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

Conference Call on the Second Quarter 2026 Financial Results
RTX's financial results conference call will be held on Thursday, July 23, 2026 at 7:30 a.m. ET. The conference call will be webcast live on the company's website at www.rtx.com and will be available for replay following the call. The corresponding presentation slides will be available for downloading prior to the call.

Use and Definitions of Non-GAAP Financial Measures
RTX Corporation ("RTX" or "the Company") reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information determined under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides investors with additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. We believe that these non-GAAP measures provide investors with additional insight into the Company's ongoing business performance. Other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. A reconciliation of the non-GAAP measures to the corresponding amounts prepared in accordance with GAAP appears in the tables in this Appendix. Certain non-GAAP financial adjustments are also described in this Appendix. Below are our non-GAAP financial measures:

Non-GAAP measure

Definition

Adjusted net sales / Adjusted sales

Represents consolidated net sales (a GAAP measure), excluding net significant and/or non-recurring items1 (hereinafter referred to as "net significant and/or non-recurring items").

Organic sales

Organic sales represents the change in consolidated net sales (a GAAP measure), excluding the impact of foreign currency translation, acquisitions and divestitures completed in the preceding twelve months and net significant and/or non-recurring items.

Adjusted operating profit (loss) and margin percentage (ROS)

Adjusted operating profit (loss) represents operating profit (loss) (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items. Adjusted operating profit margin percentage represents adjusted operating profit (loss) as a percentage of adjusted net sales.

Segment operating profit (loss) and margin percentage (ROS)

Segment operating profit (loss) represents operating profit (loss) (a GAAP measure) excluding acquisition accounting adjustments2, the FAS/CAS operating adjustment3, Corporate expenses and other unallocated items, and Eliminations and other. Segment operating profit margin percentage represents segment operating profit (loss) as a percentage of segment sales (net sales, excluding Eliminations and other).

Adjusted segment sales

Represents consolidated net sales (a GAAP measure) excluding eliminations and other and net significant and/or non-recurring items.

Adjusted segment operating profit (loss) and margin percentage (ROS)

Adjusted segment operating profit (loss) represents segment operating profit (loss) excluding restructuring costs, and net significant and/or non-recurring items. Adjusted segment operating profit margin percentage represents adjusted segment operating profit (loss) as a percentage of adjusted segment sales (adjusted net sales excluding Eliminations and other).

Adjusted net income

Adjusted net income represents net income (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items.

Adjusted earnings per share (EPS)

Adjusted EPS represents diluted earnings per share (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items.

Adjusted effective tax rate

Adjusted effective tax rate represents the effective tax rate (a GAAP measure), excluding the tax impact of restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items.

Free cash flow

Free cash flow represents cash flow from operating activities (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing RTX's ability to fund its activities, including the financing of acquisitions, debt service, repurchases of RTX's common stock, and distribution of earnings to shareowners.

1 Net significant and/or non-recurring items represent significant nonoperational items and/or significant operational items that may occur at irregular intervals.

2 Acquisition accounting adjustments include the amortization of acquired intangible assets related to acquisitions, the amortization of the property, plant and equipment fair value adjustment acquired through acquisitions, the amortization of customer contractual obligations related to loss making or below market contracts acquired, and goodwill impairment, if applicable.

3 The FAS/CAS operating adjustment represents the difference between the service cost component of our pension and postretirement benefit (PRB) expense under the Financial Accounting Standards (FAS) requirements of GAAP and our pension and PRB expense under U.S. government Cost Accounting Standards (CAS) primarily related to our Raytheon segment.

When we provide our expectation for adjusted net sales (also referred to as adjusted sales), organic sales, adjusted operating profit (loss) and margin percentage (ROS), adjusted segment operating profit (loss) and margin percentage (ROS), adjusted EPS, adjusted effective tax rate, and free cash flow, on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures, as described above, generally are not available without unreasonable effort due to potentially high variability, complexity, and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results.

Cautionary Statement Regarding Forward-Looking Statements This press release contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide RTX Corporation ("RTX") management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid and are not statements of historical fact. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "goals," "objectives," "confident," "on track," "designed to," "commit," "commitment" and other words of similar meaning. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases, tax payments and rates, research and development spending, cost savings, other measures of financial performance, potential future plans, strategies or transactions, credit ratings and net indebtedness, the Pratt powder metal matter and related matters and activities, including without limitation other engine models that may be impacted, targets and commitments (including for share repurchases or otherwise), and other statements which are not solely historical facts. All forward-looking statements involve risks, uncertainties, changes in circumstances and other factors that are hard to predict, and each of which may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995, as amended. Such risks, uncertainties and other factors include, without limitation: (1) changes in economic, capital market, and political conditions in the U.S. and globally; (2) changes in U.S. or foreign government defense spending, national priorities, and policy positions; (3) our performance on our contracts and programs, including our ability to control costs, and our dependence on U.S. government approvals for certain international contracts; (4) challenges in the development, certification, production, delivery, support, and performance of RTX's advanced technologies and new products and services and the realization of anticipated benefits; (5) challenges of operating in RTX's highly-competitive industries both domestically and abroad; (6) our reliance on U.S. and non-U.S. suppliers and commodity markets, including cost increases and disruptions in the delivery of materials and services to RTX or our suppliers; (7) changes in trade policies, implementation of sanctions, imposition of tariffs (and counter-tariffs), and other trade measures and restrictions, foreign currency fluctuations, and sales methods; (8) the economic condition of the aerospace industry; (9) the ability of RTX to attract, train, qualify, and retain qualified personnel and maintain its culture and high ethical standards, and the ability of our personnel to continue to operate our facilities and businesses around the world; (10) the scope, nature, timing, and challenges of managing and completing acquisitions, investments, divestitures, and other transactions; (11) compliance with legal, environmental, regulatory, and other requirements in the U.S. and other countries in which RTX and its businesses operate; (12) pending, threatened, and future legal proceedings, investigations, audits, and other contingencies; (13) the previously-disclosed deferred prosecution agreements entered into between the Company and the Department of Justice (DOJ), the Securities and Exchange Commission (SEC) administrative order imposed on the Company, and the related investigations by the SEC and DOJ, and the consent agreement between the Company and the Department of State; (14) RTX's ability to engage in desirable capital-raising or strategic transactions; (15) repurchases by RTX of its common stock, or declarations of cash dividends, which may be discontinued, accelerated, suspended, or delayed at any time due to various factors; (16) realizing expected benefits from, incurring costs for, and successfully managing strategic initiatives such as cost reduction, restructuring, digital transformation, and other operational initiatives; (17) additional tax exposures due to new tax legislation or other developments in the U.S. and other countries in which RTX and its businesses operate; (18) the identified rare condition in powder metal used to manufacture certain Pratt & Whitney engine parts requiring accelerated removals and inspections of a significant portion of the PW1100G-JM Geared Turbofan (GTF) fleet; (19) changes in production volumes of one or more of our significant customers as a result of business, labor, or other challenges, and the resulting effect on its or their demand for our products and services; (20) an RTX product safety failure, quality issue, or other failure affecting RTX's or its customers' or suppliers' products or systems; (21) cybersecurity, including cyber-attacks on RTX's information technology infrastructure, products, suppliers, customers and partners, and cybersecurity-related regulations; (22) insufficient indemnity or insurance coverage; (23) our intellectual property and certain third-party intellectual property; (24) threats to RTX facilities and personnel, or those of its suppliers or customers, as well as public health crises, damaging weather, acts of nature, or other similar events outside of RTX's control that may affect RTX or its suppliers or customers; (25) changes in accounting estimates for our programs on our financial results; (26) changes in pension and other postretirement plan estimates and assumptions and contributions; (27) an impairment of goodwill and other intangible assets; and (28) climate change and climate-related regulations, and any related customer and market demands, products and technologies. For additional information on identifying factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements, see the reports of RTX filed with or furnished to the Securities and Exchange Commission from time to time, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and RTX assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

RTX Corporation

Condensed Consolidated Statement of Operations

Quarter Ended June 30,

Six Months Ended June 30,

(Unaudited)

(Unaudited)

(dollars in millions, except per share amounts; shares in millions)

2026

2025

2026

2025

Net Sales

$   24,708

$   21,581

$   46,784

$   41,887

Costs and expenses:

Cost of sales

19,575

17,205

37,057

33,395

Research and development

726

697

1,353

1,334

Selling, general, and administrative

1,658

1,573

3,134

3,021

Total costs and expenses

21,959

19,475

41,544

37,750

Other income, net

62

40

126

44

Operating profit

2,811

2,146

5,366

4,181

Non-service pension income

(348)

(351)

(703)

(717)

Interest expense, net

417

457

807

900

Income before income taxes

2,742

2,040

5,262

3,998

Income tax expense

493

315

856

648

Net income

2,249

1,725

4,406

3,350

Less: Noncontrolling interest in subsidiaries' earnings

110

68

208

158

Net income attributable to common shareowners

$     2,139

$     1,657

$     4,198

$     3,192

Earnings Per Share attributable to common shareowners:

Basic

$      1.58

$      1.24

$      3.11

$      2.38

Diluted

$      1.57

$      1.22

$      3.08

$      2.36

Weighted Average Shares Outstanding:

Basic shares

1,350.7

1,340.6

1,349.2

1,338.8

Diluted shares

1,365.0

1,354.0

1,364.7

1,352.9

RTX Corporation

Segment Net Sales and Operating Profit (Loss)

Quarter Ended

Six Months Ended

(Unaudited)

(Unaudited)

June 30, 2026

June 30, 2025

June 30, 2026

June 30, 2025

(dollars in millions)

Reported

Adjusted

Reported

Adjusted

Reported

Adjusted

Reported

Adjusted

Net Sales

Collins Aerospace

$ 8,210

$ 8,210

$ 7,622

$ 7,622

$          15,812

$          15,812

$          14,839

$          14,839

Pratt & Whitney

8,889

8,889

7,631

7,631

17,062

17,062

14,997

14,997

Raytheon

8,269

8,269

7,001

7,001

15,214

15,214

13,341

13,341

Total segments

25,368

25,368

22,254

22,254

48,088

48,088

43,177

43,177

Eliminations and other

(660)

(660)

(673)

(673)

(1,304)

(1,304)

(1,290)

(1,290)

Consolidated

$          24,708

$          24,708

$          21,581

$          21,581

$          46,784

$          46,784

$          41,887

$          41,887

Operating Profit (Loss)

Collins Aerospace

$ 1,306

$ 1,370

$ 1,173

$ 1,249

$ 2,613

$ 2,668

$ 2,261

$ 2,476

Pratt & Whitney

738

740

492

608

1,448

1,451

1,072

1,198

Raytheon

1,042

1,043

805

809

1,883

1,888

1,483

1,487

Total segments

3,086

3,153

2,470

2,666

5,944

6,007

4,816

5,161

Eliminations and other

98

28

24

(17)

136

66

36

(5)

Corporate expenses and other unallocated items

(70)

7

(47)

(42)

(112)

(34)

(85)

(71)

FAS/CAS operating adjustment

171

171

186

186

343

343

371

371

Acquisition accounting adjustments

(474)

—

(487)

—

(945)

—

(957)

—

Consolidated

$ 2,811

$ 3,359

$ 2,146

$ 2,793

$ 5,366

$ 6,382

$ 4,181

$ 5,456

Segment Operating Profit Margin

Collins Aerospace

15.9 %

16.7 %

15.4 %

16.4 %

16.5 %

16.9 %

15.2 %

16.7 %

Pratt & Whitney

8.3 %

8.3 %

6.4 %

8.0 %

8.5 %

8.5 %

7.1 %

8.0 %

Raytheon

12.6 %

12.6 %

11.5 %

11.6 %

12.4 %

12.4 %

11.1 %

11.1 %

Total segment

12.2 %

12.4 %

11.1 %

12.0 %

12.4 %

12.5 %

11.2 %

12.0 %

RTX Corporation

Condensed Consolidated Balance Sheet

June 30, 2026

December 31, 2025

(dollars in millions)

(Unaudited)

(Unaudited)

Assets

Cash and cash equivalents

$           8,305

$           7,435

Accounts receivable, net

13,942

14,701

Contract assets, net

18,980

17,092

Inventory, net

14,409

13,364

Other assets, current

8,276

7,740

Total current assets

63,912

60,332

Customer financing assets

1,902

2,132

Fixed assets, net

16,965

16,868

Operating lease right-of-use assets

1,727

1,887

Goodwill

52,928

53,343

Intangible assets, net

31,043

31,845

Other assets

5,495

4,672

Total assets

$        173,972

$        171,079

Liabilities, Redeemable Noncontrolling Interest, and Equity

Short-term borrowings

$             229

$             204

Accounts payable

16,998

15,895

Accrued employee compensation

2,356

3,308

Other accrued liabilities

15,695

14,350

Contract liabilities

22,671

21,615

Long-term debt currently due

5,296

3,412

Total current liabilities

63,245

58,784

Long-term debt

31,858

34,288

Operating lease liabilities, non-current

1,473

1,602

Future pension and postretirement benefit obligations

1,956

2,067

Other long-term liabilities

7,296

7,200

Total liabilities

105,828

103,941

Redeemable noncontrolling interest

28

36

Shareowners' Equity:

Common stock

38,424

38,126

Treasury stock

(26,758)

(26,881)

Retained earnings

58,020

56,718

Accumulated other comprehensive loss

(3,309)

(2,718)

Total shareowners' equity

66,377

65,245

Noncontrolling interest

1,739

1,857

Total equity

68,116

67,102

Total liabilities, redeemable noncontrolling interest, and equity

$        173,972

$        171,079

RTX Corporation

Condensed Consolidated Statement of Cash Flows

Quarter Ended June 30,

Six Months Ended June 30,

(Unaudited)

(Unaudited)

(dollars in millions)

2026

2025

2026

2025

Operating Activities:

Net income

$     2,249

$     1,725

$     4,406

$     3,350

Adjustments to reconcile net income to net cash flows provided by operating activities from:

Depreciation and amortization

1,079

1,076

2,150

2,128

Deferred income tax (benefit) provision

(56)

54

(30)

121

Stock compensation cost

164

113

296

224

Net periodic pension and other postretirement income

(303)

(312)

(616)

(636)

Share-based 401(k) matching contributions

147

140

339

307

Change in:

Accounts receivable

(729)

(765)

1,094

(1,137)

Contract assets

(963)

(484)

(1,942)

(1,190)

Inventory

(330)

(384)

(1,143)

(1,197)

Other current assets

47

25

(422)

(100)

Accounts payable and accrued liabilities

2,102

(538)

947

(141)

Contract liabilities

198

(30)

292

343

Other operating activities, net

(58)

(162)

31

(309)

Net cash flows provided by operating activities

3,547

458

5,402

1,763

Investing Activities:

Capital expenditures

(669)

(530)

(1,215)

(1,043)

Increase in other intangible assets

(58)

(122)

(156)

(226)

(Payments) receipts from settlements of derivative contracts, net

(71)

192

1

145

Other investing activities, net

(146)

(49)

(182)

(63)

Net cash flows used in investing activities

(944)

(509)

(1,552)

(1,187)

Financing Activities:

Repayment of long-term debt

(24)

(780)

(524)

(789)

Change in commercial paper, net

—

1,432

—

1,432

Dividends paid

(983)

(910)

(1,898)

(1,750)

Repurchase of common stock

—

—

—

(50)

Other financing activities, net

(62)

(95)

(487)

(252)

Net cash flows used in financing activities

(1,069)

(353)

(2,909)

(1,409)

Effect of foreign exchange rate changes on cash and cash equivalents

(13)

38

(19)

54

Net increase (decrease) in cash, cash equivalents, and restricted cash

1,521

(366)

922

(779)

Cash, cash equivalents and restricted cash, beginning of period

6,871

5,193

7,470

5,606

Cash, cash equivalents and restricted cash, end of period

8,392

4,827

8,392

4,827

Less: Restricted cash, included in Other assets, current and Other assets

87

45

87

45

Cash and cash equivalents, end of period

$     8,305

$     4,782

$     8,305

$     4,782

RTX Corporation

Reconciliation of Adjusted (Non-GAAP) Results

Adjusted Sales, Adjusted Operating Profit (Loss) & Operating Profit (Loss) Margin

Quarter Ended June 30,

Six Months Ended June 30,

(Unaudited)

(Unaudited)

(dollars in millions - Income (Expense))

2026

2025

2026

2025

Collins Aerospace

Net sales

$    8,210

$    7,622

$  15,812

$  14,839

Operating profit

$    1,306

$    1,173

$    2,613

$    2,261

Restructuring

(64)

(39)

(55)

(152)

Segment and portfolio transformation and divestiture costs (1)

—

(37)

—

(63)

Adjusted operating profit

$    1,370

$    1,249

$    2,668

$    2,476

Adjusted operating profit margin

16.7 %

16.4 %

16.9 %

16.7 %

Pratt & Whitney

Net sales

$    8,889

$    7,631

$  17,062

$  14,997

Operating profit

$       738

$       492

$    1,448

$    1,072

Restructuring

(2)

(8)

(3)

(18)

Customer bankruptcy (1)

—

(108)

—

(108)

Adjusted operating profit

$       740

$       608

$    1,451

$    1,198

Adjusted operating profit margin

8.3 %

8.0 %

8.5 %

8.0 %

Raytheon

Net sales

$    8,269

$    7,001

$  15,214

$  13,341

Operating profit

$    1,042

$       805

$    1,883

$    1,483

Restructuring

(1)

(4)

(5)

(4)

Adjusted operating profit

$    1,043

$       809

$    1,888

$    1,487

Adjusted operating profit margin

12.6 %

11.6 %

12.4 %

11.1 %

Eliminations and Other

Net sales

$      (660)

$      (673)

$   (1,304)

$   (1,290)

Operating profit

$         98

$         24

$       136

$         36

Gain on investment (1)

70

41

70

41

Adjusted operating profit (loss)

$         28

$        (17)

$         66

$          (5)

Corporate expenses and other unallocated items

Operating loss

$        (70)

$        (47)

$      (112)

$        (85)

Restructuring

(8)

—

(9)

(9)

Tax audit settlements and closures (1)

—

(5)

—

(5)

Litigation matter (1)

(69)

—

(69)

—

Adjusted operating profit (loss)

$           7

$        (42)

$        (34)

$        (71)

FAS/CAS Operating Adjustment

Operating profit

$       171

$       186

$       343

$       371

Acquisition Accounting Adjustments

Operating loss

$      (474)

$      (487)

$      (945)

$      (957)

Acquisition accounting adjustments

(474)

(487)

(945)

(957)

Adjusted operating loss

$         —

$         —

$         —

$         —

RTX Consolidated

Net sales

$  24,708

$  21,581

$  46,784

$  41,887

Operating profit

$    2,811

$    2,146

$    5,366

$    4,181

Restructuring

(75)

(51)

(72)

(183)

Acquisition accounting adjustments

(474)

(487)

(945)

(957)

Total net significant and/or non-recurring items included in Operating profit above (1)

1

(109)

1

(135)

Adjusted operating profit

$    3,359

$    2,793

$    6,382

$    5,456

(1)  Refer to "Non-GAAP Financial Adjustments" below for a description of these adjustments.

RTX Corporation

Reconciliation of Adjusted (Non-GAAP) Results

Adjusted Income, Earnings Per Share, and Effective Tax Rate

Quarter Ended
June 30,

Six Months Ended
June 30,

(Unaudited)

(Unaudited)

(dollars in millions - Income (Expense))

2026

2025

2026

2025

Net income attributable to common shareowners

$  2,139

$  1,657

$  4,198

$  3,192

Total Restructuring

(75)

(51)

(72)

(183)

Total Acquisition accounting adjustments

(474)

(487)

(945)

(957)

Total net significant and/or non-recurring items included in Operating profit (1)

1

(109)

1

(135)

Significant and/or non-recurring items included in Non-service Pension Income

Non-service pension restructuring

(2)

—

(4)

—

Significant non-recurring and non-operational items included in Interest Expense, Net

Tax audit settlements and closures (1)

—

11

—

54

International tax matter (1)

—

—

—

(35)

Tax effect of restructuring and net significant and/or non-recurring items above

110

142

214

280

Significant and/or non-recurring items included in Income Tax Expense

Tax audit settlements and closures (1)

—

33

—

59

Less: Impact on net income attributable to common shareowners

(440)

(461)

(806)

(917)

Adjusted net income attributable to common shareowners

$  2,579

$  2,118

$  5,004

$  4,109

Diluted Earnings Per Share

$   1.57

$   1.22

$   3.08

$   2.36

Impact on Diluted Earnings Per Share

(0.32)

(0.34)

(0.59)

(0.68)

Adjusted Diluted Earnings Per Share

$   1.89

$   1.56

$   3.67

$   3.04

Effective Tax Rate

18.0 %

15.4 %

16.3 %

16.2 %

Impact on Effective Tax Rate

(0.3) %

(2.9) %

(0.7) %

(2.6) %

Adjusted Effective Tax Rate

18.3 %

18.3 %

17.0 %

18.8 %

(1)  Refer to "Non-GAAP Financial Adjustments" below for a description of these adjustments.

RTX Corporation

Reconciliation of Adjusted (Non-GAAP) Results

Segment Operating Profit Margin and Adjusted Segment Operating Profit Margin

Quarter Ended June 30,

Six Months Ended June 30,

(Unaudited)

(Unaudited)

(dollars in millions)

2026

2025

2026

2025

Net Sales

$  24,708

$  21,581

$  46,784

$  41,887

Reconciliation to segment net sales:

Eliminations and other

660

673

1,304

1,290

Segment Net Sales

$  25,368

$  22,254

$  48,088

$  43,177

Operating Profit

$   2,811

$   2,146

$   5,366

$   4,181

Operating Profit Margin

11.4 %

9.9 %

11.5 %

10.0 %

Reconciliation to segment operating profit:

Eliminations and other

(98)

(24)

(136)

(36)

Corporate expenses and other unallocated items

70

47

112

85

FAS/CAS operating adjustment

(171)

(186)

(343)

(371)

Acquisition accounting adjustments

474

487

945

957

Segment Operating Profit

$   3,086

$   2,470

$   5,944

$   4,816

Segment Operating Profit Margin

12.2 %

11.1 %

12.4 %

11.2 %

Reconciliation to adjusted segment operating profit:

Restructuring

(67)

(51)

(63)

(174)

Net significant and/or non-recurring items (1)

—

(145)

—

(171)

Adjusted Segment Operating Profit

$   3,153

$   2,666

$   6,007

$   5,161

Adjusted Segment Operating Profit Margin

12.4 %

12.0 %

12.5 %

12.0 %

(1)  Refer to "Non-GAAP Financial Adjustments" below for a description of these adjustments.

RTX Corporation

Free Cash Flow Reconciliation

Quarter Ended June 30,

(Unaudited)

(dollars in millions)

2026

2025

Net cash flows provided by operating activities

$         3,547

$           458

Capital expenditures

(669)

(530)

Free cash flow

$         2,878

$           (72)

Six Months Ended June 30,

(Unaudited)

(dollars in millions)

2026

2025

Net cash flows provided by operating activities

$         5,402

$         1,763

Capital expenditures

(1,215)

(1,043)

Free cash flow

$         4,187

$           720

RTX Corporation

Reconciliation of Adjusted (Non-GAAP) Results

Organic Sales Reconciliation

Quarter ended June 30, 2026 compared to the Quarter Ended June 30, 2025

(Unaudited)

(dollars in millions)

Total Reported
Change

Acquisitions &
Divestitures
Change

FX / Other
Change (2)

Organic Change

Prior Year
Adjusted Sales (1)

Organic Change
as a % of
Adjusted Sales

Collins Aerospace

$           588

$          (404)

$            11

$           981

$         7,622

13 %

Pratt & Whitney

1,258

—

(16)

1,274

7,631

17 %

Raytheon

1,268

—

12

1,256

7,001

18 %

Eliminations and Other (3)

13

13

—

—

(673)

— %

Consolidated

$         3,127

$          (391)

$              7

$         3,511

$       21,581

16 %

(1)

For the full Non-GAAP reconciliation of adjusted sales refer to "Reconciliation of Adjusted (Non-GAAP) Results - Adjusted Sales, Adjusted Operating Profit & Operating Profit Margin."

(2)

Includes other significant non-operational items and/or significant operational items that may occur at irregular intervals.

(3)

FX/Other Change includes the transactional impact of foreign exchange hedging at Pratt & Whitney Canada, which is included in Pratt & Whitney's FX/Other Change, but excluded for Consolidated RTX.

Six Months Ended June 30, 2026 compared to the Six Months Ended June 30, 2025

(Unaudited)

(dollars in millions)

Total Reported
Change

Acquisitions &
Divestitures
Change

FX / Other
Change (2)

Organic Change

Prior Year
Adjusted Sales (1)

Organic Change
as a % of
Adjusted Sales

Collins Aerospace

$           973

$          (787)

$            51

$         1,709

$       14,839

12 %

Pratt & Whitney

2,065

—

21

2,044

14,997

14 %

Raytheon

1,873

—

29

1,844

13,341

14 %

Eliminations and Other (3)

(14)

26

(31)

(9)

(1,290)

1 %

Consolidated

$         4,897

$          (761)

$            70

$         5,588

$       41,887

13 %

(1)

For the full Non-GAAP reconciliation of adjusted sales refer to "Reconciliation of Adjusted (Non-GAAP) Results - Adjusted Sales, Adjusted Operating Profit & Operating Profit Margin."

(2)

Includes other significant non-operational items and/or significant operational items that may occur at irregular intervals.

(3)

FX/Other Change includes the transactional impact of foreign exchange hedging at Pratt & Whitney Canada, which is included in Pratt & Whitney's FX/Other Change, but excluded for Consolidated RTX.

Non-GAAP Financial Adjustments

Non-GAAP Adjustments

Description

Segment and portfolio transformation and divestiture costs

The quarter and six months ended June 30, 2025 include separation costs incurred in advance of the completion of certain divestitures.

Customer bankruptcy

The quarter and six months ended June 30, 2025 include a net pre-tax charge of approximately $0.1 billion related to a customer bankruptcy at Pratt & Whitney. The charge primarily relates to contract asset exposures with a customer. Management has determined that the nature and significance of the charge is considered unusual and, therefore, not indicative of the Company's ongoing operational performance.

Gain on investment

The quarter and six months ended June 30, 2026 and quarter and six months ended June 30, 2025, include a pre-tax gain of $70 million and $41 million, respectively, related to the increase in fair value on an investment. Management has determined that the nature of the gain on investment to be significant and non-operational, and, therefore, not indicative of the Company's ongoing operational performance.

Tax audit settlements and closures

The quarter and six months ended June 30, 2025 include a tax benefit of $59 million and a pre-tax benefit on the reversal of $54 million of interest accruals both recognized as a result of the closure of the examination phase of multiple state tax audits. In addition, in the quarter and six months ended June 30, 2025, there was a tax benefit of $33 million and a net pre-tax benefit of $6 million from the

reversal of interest accruals and the write-off of certain tax related indemnity receivables associated

with the closure of a federal tax audit.

Litigation matter

The quarter and six months ended June 30, 2026 include a pre-tax charge of  $69 million related to a litigation matter. Management considers this charge non-operational and directly attributable to the litigation matter and, therefore, not indicative of the Company's ongoing operational performance.

International tax matter

During the six months ended June 30, 2025, the Company recorded the impact of an unfavorable decision related to an international tax matter for the years ended December 31, 2015 to December 31, 2019, resulting in interest expense, net of $35 million and a tax benefit of $8 million. Management has determined that the nature of this impact related to the tax matter is considered significant and non-operational, and, therefore, not indicative of the Company's ongoing operational performance.

Media Contact

202.384.2474

Investor Contact
781.522.5123 

SOURCE RTX

Collins Aerospace lab completes Clean Aviation SWITCH testing and moves on to LEIA project

, /PRNewswire/ -- Farnborough International Air Show – Collins Aerospace, an RTX (NYSE: RTX) business, has completed integrated lab testing for the European Union's Clean Aviation SWITCH project at The Grid, its advanced electric power systems lab in Rockford, Ill. The tested hybrid-electric powertrain subsystems, which successfully operated with simulated aircraft and engine systems, are now headed to Airbus's laboratories for further aircraft level integration testing, including work on aircraft design, battery interfacing and energy-management systems.

"This is the largest integrated systems test conducted at The Grid since its opening in 2023," said Kristin Smith, vice president of Electric Power Systems at Collins Aerospace.  "By combining our technology expertise with deep industry collaboration, we are demonstrating how hybrid-electric systems can significantly reduce fuel consumption for next-generation aircraft."   

SWITCH aims to improve engine efficiency for future short- and medium-range aircraft by integrating hybrid-electric systems on a Pratt & Whitney GTF™ engine, including two Collins megawatt class motor generators and controllers. Testing at The Grid was supported by Pratt & Whitney teams who performed powertrain system integration and supplied the hybrid-electric engine controller, and Airbus teams who supplied the interface controller to the aircraft energy-management system. GKN Aerospace delivered the high-voltage wiring system.

Next, The Grid will support the Airbus-led LEIA (Large scalE Integration demonstrator of hybrid electrical Architecture) project, where Collins is technical lead for energy sources. This Clean Aviation demonstrator advances components and aircraft systems for future hybrid-electric short- and medium-range aircraft, including high voltage generation and distribution.

Collins will deliver advanced aircraft electric system technologies, including four scalable electric motor/generators, next-generation electronic controllers, power distribution equipment, and cabin pressure and ventilation control systems to enhance reliability and passenger comfort. The Nördlingen, Germany site will supply solid-state power controllers and power distribution panels to replace mechanical circuit breakers and relays boosting reliability and reducing weight. LEIA testing will occur across several sites, including The Grid, with additional work at Collins' facilities in Toulouse, France; Frankfurt, Germany; Cork, Ireland; Rome, Italy; and Solihull, UK.

According to Pierre Durel, Project Officer at Clean Aviation, "SWITCH & LEIA are essential building blocks to make the hybrid-electric short- and medium-range aircraft become a reality: they show the power of collaboration within Europe and beyond." He adds that Clean Aviation is "very much looking forward to the results of the demonstration tests due to be carried out in 2027."

Both SWITCH and LEIA build on the ongoing collaboration between Collins and several partners across multiple Clean Aviation projects, including HECATE and AWATAR, which advance electrification technologies for future regional and short-and-medium range aircraft. Collins also contributes to Clean Aviation's newest ultra-efficient regional aircraft projects, including OSYRYS and PHARES. MTU Aero Engines coordinates the SWITCH project. 

About Collins Aerospace
Collins Aerospace, an RTX business, provides advanced aerospace and defense solutions across avionics, aircraft interiors, aerostructures and engine components, mission systems, and power and control systems. Our global employees are dedicated to delivering innovative technologies to enhance aircraft performance, passenger comfort, operational safety and reliability. 

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia. 

About the Clean Aviation Joint Undertaking  
The Clean Aviation Joint Undertaking is the European Union's leading research and innovation programme for transforming aviation towards a sustainable and climate-neutral future. It is a successful European public-private partnership between the European Commission through Horizon Europe, the EU research and innovation programme, and the European aeronautics industry. It has a budget of €4.1 billion divided into €1.7 billion in EU funding and no less than €2.4 billion in private funding. The programme's disruptive clean aviation technologies will help reduce the emission footprint of short-medium range and regional aircraft by no less than 30% compared to 2020 state-of-the-art aircraft. Clean Aviation builds on the knowledge and expertise of the Clean Sky programmes (2008-2024). 

For questions or to schedule an interview, please contact [email protected].

SOURCE RTX

Increased Middle East capability primed to meet future demands of widebody platforms

, /PRNewswire/ -- Farnborough International Airshow – Collins Aerospace, an RTX (NYSE: RTX) business, and Etihad Airways Engineering LLC (Etihad Engineering) announced a joint venture agreement at the Farnborough International Airshow to provide maintenance, repair and overhaul (MRO) services in Abu Dhabi, United Arab Emirates. The JV will provide nacelle and thrust reverser maintenance solutions, along with asset support services, for Airbus A350 and Boeing 787 widebody fleets across regional and international carriers.

As part of the agreement, Collins will relocate existing UAE nacelle operations to Etihad Engineering's 550,000-square-meter aviation maintenance centre of excellence near Zayed International Airport, doubling Collins' current nacelle MRO footprint in the Middle East. The 3,250-square-meter facility is expected to be operational in the first quarter of 2027.

"By co-locating with Etihad Engineering's rapidly expanding heavy maintenance facility, Collins can deliver enhanced service levels and technical expertise to meet the demand of the Middle East region's fast growing aviation market," said PJ Titone, vice president and general manager of Advanced Structures for Collins Aerospace. "This joint venture expands our global MRO footprint and supports the rising number of commercial aircraft equipped with Collins nacelles helping carriers across the region reduce costs and improve turnaround times."

Etihad Engineering, a part of Abu Dhabi Aviation (ADA) group of companies, is one of the world's leading aircraft MRO service providers, offering extensive aircraft maintenance and engineering solutions across a range of airframe maintenance and component repair services. The establishment of the JV will complement and expand Etihad Engineering's existing aircraft maintenance solutions and provide airline customers in the region and from around the world with enhanced nacelle MRO services.

Mahmood Al Hameli, Group CEO of Abu Dhabi Aviation (ADA), said: "This new capability aligns with our Group's long-term commitment to organic growth through capability enhancement and the development of local expertise. This not only broadens our service offerings but also enhances resilience and provides better responsiveness to our customers."

"We offer our global customer base a wide range of industry-leading aircraft maintenance and engineering services in Abu Dhabi as a one-stop MRO solutions partner. The creation of this JV with Collins Aerospace strengthens our world-class value proposition by adding high-quality nacelle maintenance and thrust reverser MRO services to our comprehensive existing portfolio for our customers from all over the world," said Daniel Hoffmann, CEO of Etihad Engineering.

The JV will operate as part of Collins' aerostructures aftermarket network supported by a global team.

About Collins Aerospace
Collins Aerospace, an RTX business, provides advanced aerospace and defense solutions across avionics, aircraft interiors, aerostructures and engine components, mission systems, and power and control systems. Our global employees are dedicated to delivering innovative technologies to enhance aircraft performance, passenger comfort, operational safety and reliability. 

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

About Etihad Engineering
Etihad Engineering is one of the world's leading commercial aircraft maintenance, repair and overhaul (MRO) services providers and the largest in the Middle East. The company offers comprehensive aircraft maintenance and engineering services, including design, advanced composite repair, cabin refurbishment and component services, as well as technical training, from its state-of-the-art 550,000 sqm facility located in Abu Dhabi, adjacent to Zayed International Airport. The 2000-strong Etihad Engineering team with professionals from more than 50 nations has successfully completed aircraft maintenance projects over the years for hundreds of satisfied customers from all over the world. For more information, please visit: www.etihadengineering.com and follow the latest company updates on LinkedIn at https://www.linkedin.com/company/etihad-engineering 

For questions or to schedule an interview, please contact [email protected] and Farrukh Naeem for Etihad Engineering at [email protected].

SOURCE RTX

Funding will enhance capabilities at Pratt & Whitney Canada's global headquarters and largest manufacturing site

, /PRNewswire/ -- Farnborough International Airshow — Pratt & Whitney Canada announced today a $275 million Canadian dollar investment to enhance manufacturing operations at its Longueuil, Quebec, facility. The investment will be funded by Pratt & Whitney Canada with support from Innovation, Science and Economic Development Canada and the Ministère de l'Économie, de l'Innovation et de l'Énergie du Québec. Pratt & Whitney is an RTX (NYSE: RTX) business.

"This strategic investment in Longueuil strengthens our industrial capacity, enabling us to better support our customers and meet growing global demand," said Satheeshkumar Kumarasingam, president, Pratt & Whitney Canada. "It also reinforces our longstanding role as a pillar of the Québec aerospace ecosystem and a major contributor to Canadian aviation."

With this investment, Pratt & Whitney Canada will enhance industrial capabilities at its largest manufacturing facility, where nearly 4,500 employees support the production of engines for regional, business, general aviation and rotorcraft platforms. The site will add automated production lines, modernized machinery and cutting-edge digital processes, helping to drive greater efficiency and precision throughout its operations.

About Pratt & Whitney
Pratt & Whitney, an RTX business, is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units for military, commercial and civil aviation customers.  Since 1925, our engineers have pioneered the development of revolutionary aircraft propulsion technologies, and today we support more than 90,000 in-service engines through our global network of maintenance, repair and overhaul facilities.

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact [email protected]

SOURCE RTX

Affordable and scalable effector will strengthen RAF stockpile resilience

, /PRNewswire/ -- Farnborough International Airshow – Raytheon UK, part of RTX's (NYSE: RTX) Raytheon business, today introduced Red Kite®, its first sovereign precision weapon fully designed and digitally engineered in the United Kingdom.

Developed with a consortium of British defence partners, Red Kite is an affordable, highly deployable precision weapon that advances the UK's ability to rapidly scale critical stockpiles. Using advanced digital modelling technologies, the effector quickly moved from concept to prototype.

"Red Kite was designed with affordability and adaptability in mind, and marks a significant step forward for UK defence," said James Gray, managing director and chief executive of Raytheon UK. "Working closely with our partners over the past five years, we've combined innovative design, digital engineering and proven technologies to develop a sovereign capability for the RAF faster and more efficiently than ever." 

Red Kite uses the existing Stormbreaker® airframe and can be integrated across a wide range of air platforms. It builds on Raytheon UK's extensive experience delivering precision weapons, including Paveway IV and adds a cost-effective, high-volume capability that enhances RAF operational flexibility.

"Red Kite is about getting capability to the frontline faster – reducing cost, increasing availability and meeting our customers' needs when it matters most," added Gray. "It represents a clear step toward a more resilient, sovereign UK defence industrial base."

Red Kite will be delivered through a nationwide UK supply chain, bringing together specialist design, engineering and manufacturing expertise from across the country. From systems electronics and software in Harlow to control actuation systems in Glenrothes, the programme will sustain high-skilled jobs, advanced manufacturing and sovereign defence capabilities across England, Scotland and Wales. Raytheon UK estimates that approximately 140 highly skilled jobs will directly support this program.

About Raytheon UK
With over 2,000 employees in the UK, Raytheon UK is a major supplier and systems integrator to the UK Ministry of Defence that designs, develops and manufactures defence and space products. The company is also a leading provider of training transformations services and continues to invest in research and development, supporting innovation and technological advances across the country. Raytheon UK is part of RTX's Raytheon business.

About Raytheon
Raytheon, an RTX business, is a leading provider of defense solutions to help the U.S. government, our allies and partners defend their national sovereignty and ensure their security. For more than 100 years, Raytheon has developed new technologies and enhanced existing capabilities in integrated air and missile defense, smart weapons, missiles, advanced sensors and radars, interceptors, space-based systems, hypersonics and missile defense across land, air, sea and space.

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact [email protected].

SOURCE RTX

Additive manufacturing increases production speed and industrial flexibility to meet growing demand for expendable engines

, /PRNewswire/ -- Farnborough International Airshow – Pratt & Whitney, an RTX (NYSE: RTX) business, announced the successful completion of demonstration testing for its additively manufactured TJ150 engine.

Nearly 60% of the engine by volume was produced through additive manufacturing, including major static and rotating hardware. The testing focused on validating material behavior in an operational environment and demonstrating durability aligned with mission demands.

"For expendable engines like the TJ150, where missions can last minutes or hours, simplifying the design and scaling production quickly is essential to meeting rising demand," said Jill Albertelli, president of Military Engines at Pratt & Whitney. "Additive manufacturing helps us move designs from concept to capability faster, and we are leveraging what we learned on the TJ150 to benefit other programs, including the Pratt & Whitney Valox™ engine family."  

Pratt & Whitney has made targeted investments to advance additive manufacturing for the TJ150, strengthening its long-term producibility and scalability strategy. To date, Pratt & Whitney has consolidated more than 50 individual hot section components into a handful of additively manufactured parts and has successfully tested a 3D-printed rotating turbine wheel. Together, these efforts led to the recently tested TJ150 configuration.

About Pratt & Whitney
Pratt & Whitney, an RTX business, is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units for military, commercial and civil aviation customers. Since 1925, our engineers have pioneered the development of revolutionary aircraft propulsion technologies, and today we support more than 90,000 in-service engines through our global network of maintenance, repair and overhaul facilities.

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact [email protected].

SOURCE RTX

Key Takeaways RTX supports the F-35 with sensors, mission systems, targeting technologies and precision-guided weapons.Raytheon won a $13.5 million contract to support U.S. Navy P-8A Poseidon fleet readiness through 2029.RTX also serves the F-15, F/A-18 and F-16 with radars, electronic warfare, missiles and sustainment. RTX Corporation (RTX - Free Report) continues to strengthen its position in the fighter aircraft market through its broad portfolio of advanced avionics, sensors, electronic warfare systems and precision weapons. The company supplies critical technologies that enhance the performance, survivability and mission effectiveness of some of the world's most advanced fighter aircraft operated by the U.S. military and allied nations.

A key example is RTX's role on the F-35 Lightning II, where it provides advanced sensors, mission systems, electro-optical targeting technologies and precision-guided weapons. These capabilities enable enhanced situational awareness, target detection and mission execution, supporting modern air combat operations.

RTX continues to expand its defense aviation business through new contract awards. Recently, its Raytheon business secured a contract worth approximately $13.5 million to supply 50 weapon repairable assemblies for the U.S. Navy's P-8A Poseidon aircraft, supporting fleet readiness through 2029. The award highlights continued demand for the company's advanced airborne systems across military aviation platforms.

Beyond the F-35 program, RTX supports a broad range of fighter aircraft, including the F-15, F/A-18 and F-16, through its portfolio of radar systems, electronic warfare solutions, missiles and sustainment services. Its diversified offerings and long-standing relationships with defense customers position the company to benefit from increasing investments in next-generation air combat capabilities.

Rising geopolitical tensions, higher defense spending and military modernization programs are driving demand for advanced fighter aircraft worldwide. RTX's diversified defense portfolio and technological expertise position it well to benefit from the market's long-term growth.

Other Fighter Aircraft Stocks to WatchOther aerospace and defense companies strengthening their presence in the fighter aircraft market are discussed below:

Northrop Grumman (NOC - Free Report) : Northrop Grumman is a leading provider of manned and unmanned military aircraft. Its portfolio includes platforms such as the E-2D Advanced Hawkeye, E-2C Hawkeye 2000 and F-5 Tiger fighter aircraft, along with advanced airborne mission systems that support modern military operations.

Lockheed Martin (LMT - Free Report) : Lockheed Martin is one of the leading players in the fighter aircraft market through its portfolio of advanced combat aircraft, including the F-35 Lightning II, F-22 Raptor, F-21 and F-16 Fighting Falcon.

The Zacks Rundown for RTXShares of RTX have surged 30.5% in the past year against the industry’s 3.3% decline.

Image Source: Zacks Investment Research

The company’s shares are trading at a discount on a relative basis, with its forward 12-month Price/Earnings being 26.77X compared with its industry’s average of 31.92X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for RTX’s 2026 and 2027 earnings has moved north over the past 60 days.

Image Source: Zacks Investment Research

Enhanced borescope analytics will strengthen global MRO operations for commercial and military engines

, /PRNewswire/ -- Pratt & Whitney, an RTX (NYSE: RTX) business, is expanding its engine inspection capabilities with AI-assisted borescope software through the acquisition and integration of Amsterdam-based Aiir Innovations. This technology enables a step change in how inspections are performed, enhancing consistency and efficiency across global maintenance, repair and overhaul (MRO) operations for commercial, civil and military engines.

"Broadening the integration of AI-assisted inspection capability strengthens our ability to detect issues earlier, improve turnaround times, increase time on wing and reduce operational disruption for our customers," said Rob Griffiths, senior vice president, Commercial Engines Operations at Pratt & Whitney. "It will fundamentally reshape how engines and components are inspected, maintained and supported throughout their lifecycle, as we increase its application across Pratt & Whitney."

The software assists inspectors by applying artificial intelligence to borescope video to deliver faster, more repeatable assessments. It has already been rolled out to commercial customers and MRO providers, significantly reducing inspection times. Pratt & Whitney has applied the technology on the V2500 engine and recently completed pilots on the GTF and F135 engines, with plans to expand its use across the company.

By adapting to inspector feedback to enhance classification performance over time, the technology becomes smarter, more accurate and increasingly aligned with real-world expertise. It also enables configurable reporting capabilities, allowing processes that once required substantial time to be completed in minutes with greater quality, consistency, traceability and accuracy.

About Pratt & Whitney 
Pratt & Whitney, an RTX business, is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units for military, commercial and civil aviation customers. Since 1925, our engineers have pioneered the development of revolutionary aircraft propulsion technologies, and today we support more than 90,000 in-service engines through our global network of maintenance, repair and overhaul facilities.

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact [email protected].

SOURCE RTX

Raytheon UK-led consortium of industry partners set to deliver the Army's next-generation training system

, /PRNewswire/ -- Omnia Training has been awarded a £2bn contract by the UK Ministry of Defence to serve as the British Army's Strategic Training Partner and deliver the Army's Collective Training System (ACTS).

The Raytheon UK-led consortium, consisting of Capita, Cervus, Rheinmetall UK and Skyral, will deliver the ACTS in partnership with the British Army. The 15-year contract will provide soldiers with an integrated, digitally enabled collective training system that transforms how they train, prepare and adapt for future missions. Raytheon is an RTX (NYSE: RTX) business.

By combining virtual, synthetic and data-driven environments, it upgrades traditional live exercises to better prepare soldiers for complex, modern warfare, enabling training whenever and wherever required.

"We launched Omnia Training over three years ago to deliver cutting-edge training systems to help the British Army effectively prepare for operations," said James Gray, Managing Director and Chief Executive of Raytheon UK. "Our UK‑based team of innovators, engineers and experts will give soldiers and commanders a new level of training realism and set an example for effective collaboration between the Army and industry".

The Omnia team will enhance operational readiness and transform how the British Army trains by making greater use of synthetic technologies, advanced analytics and next-generation training platforms that integrate virtual, synthetic and data-driven environments. Using UK-developed technology and working with a team of UK-based partners and suppliers, Omnia Training will prepare soldiers for warfighting through realistic, integrated, immersive and adversarial collective training.

270 jobs will be created as a result of the contract award, with a further 150 jobs sustained. 

About Omnia Training

Omnia Training brings together the combined expertise of five organisations with a strong track record in multi‑domain training and defence innovation. Across the team they have more than 1,500 personnel in defence training roles, and during the preparation for this contract the partners have worked as a co‑located, integrated team for over two years, driving a unified vision for training transformation in the UK and beyond.

About Raytheon UK

With over 2,000 employees, Raytheon UK is a major supplier and systems integrator to the UK Ministry of Defence, designing, developing, and manufacturing defence and space technologies. The company is also a leading provider of training transformation services and continues to invest in research and development to advance innovation across the UK. Raytheon UK is part of RTX's Raytheon business.

About RTX

With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact [email protected].

SOURCE RTX

European production to boost output and strengthen the transatlantic defense industrial base

, /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, is working with European companies, including Diehl Defence, to double Stinger® missile production in response to growing global demand.

Working with Raytheon, Diehl Defence will produce the guidance section, a key component of the Stinger missile, and source related subcomponents from across Europe. Raytheon is also working with key Dutch suppliers to produce additional major Stinger assemblies. The final Stinger missile will be assembled, tested and completed in the Netherlands.

"We are laser-focused on doubling our Stinger missile production capacity," said Tom Laliberty, president of Land & Air Defense Systems at Raytheon. "Expanding Stinger production in Europe strengthens our industrial base and broadens our global network, ensuring our allies have reliable access to this critical air defense capability."

The Stinger missile is a lightweight, combat-proven and self-contained air defense system deployed by ground troops against cruise missiles and aircraft. Stinger is the preferred surface-to-air missile for 24 countries, including 10 NATO members.

"We are proud to work together once again on Stinger, where we previously produced relevant parts of the missile," said Helmut Rauch, Diehl Defence CEO. "Producing the guidance section for new Stinger systems marks another strong chapter of cooperation between Diehl Defence and Raytheon."

The expanded production capacity in Europe will help support future work with the NATO Support and Procurement Agency, known as the NSPA, to meet European demand.

About Raytheon
Raytheon, an RTX business, is a leading provider of defense solutions to help the U.S. government, our allies and partners defend their national sovereignty and ensure their security. For more than 100 years, Raytheon has developed new technologies and enhanced existing capabilities in integrated air and missile defense, smart weapons, missiles, advanced sensors and radars, interceptors, space-based systems, hypersonics and missile defense across land, air, sea and space.

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact [email protected]

About Diehl Defence
As a reliable partner of the German and international armed forces, Diehl Defence is a leading system house for air defence systems. In addition to systems for ground-based air defence, the product portfolio of the company headquartered in Überlingen (Germany) includes guided missiles for all branches of the armed forces, ammunition for army, air force and navy as well as protection systems. In addition, Diehl Defence develops and produces key components such as infrared modules, fuzes and special batteries. Diehl Defence currently employs more than 6,000 people generating annual sales of over 2.5 billion euros.

Point of contact:

David Voskuhl, Vice President Communications & PR, +49 7551 89-6955, [email protected], www.diehl.com/defence

SOURCE RTX

Key Takeaways RTX stock surged 36.6% in the past year, outpacing its industry and the sector.RTX is advancing its defense and aerospace portfolio with new contracts and technology milestones.RTX's 2026 sales and earnings estimates point to growth, while its liquidity ratio stays above one. RTX Corporation (RTX - Free Report) stock has surged 36.6% in the past year, outperforming the Zacks Aerospace-Defense industry’s growth of 6.6%. It also outperformed the broader Zacks Aerospace sector’s growth of 11% and the S&P 500’s return of 23.7% in the same time frame.

Image Source: Zacks Investment Research

Other industry players, such as General Dynamics (GD - Free Report) and Lockheed Martin (LMT - Free Report) , have delivered a similar performance in the past year. Shares of GD and LMT have gained 26.7% and 16.4%, respectively, in the said period.

Given RTX’s strong recent performance, some investors may feel inclined to buy the stock quickly. However, it is important to evaluate whether the company’s fundamentals can support sustainable long-term growth or if the recent rally is temporary. A clear understanding of RTX’s growth outlook and associated risks is essential for making a well-informed investment decision.

Tailwinds for RTXRTX continues to strengthen its aerospace and defense business through new contract wins and technological advancements. In June 2026, its Pratt & Whitney unit achieved a major milestone as the F119 engine surpassed 1 million flight hours, powering the Lockheed Martin F-22 Raptor. The achievement highlights the engine's long-term reliability and its critical role in supporting the U.S. Air Force's premier air superiority fighter.

Also in June, RTX announced that it is developing a large-aperture telescope for the Lazuli Space Observatory, part of the Eric and Wendy Schmidt Observatory System. The 3.1-meter unobscured aperture telescope will be the largest of its kind launched on a commercial platform and is expected to deliver sharper imagery, greater sensitivity and faster data collection through advanced materials and digital engineering.

Moreover, Raytheon secured a $1.1 billion contract from the U.S. Navy to produce AIM-9X Block II missiles. The award includes the production of missiles, as well as associated hardware and software, to replenish U.S. military inventories and meet growing demand from allied nations through Foreign Military Sales.

These developments highlight RTX's continued focus on strengthening its defense portfolio, expanding advanced aerospace technologies and supporting long-term growth through innovation and strategic defense programs.

Estimates for RTX’s 2026 Sales and EarningsThe Zacks Consensus Estimate for RTX’s 2026 sales implies year-over-year growth of 6%. The consensus estimate for its 2026 earnings indicates a year-over-year increase of 9.9%.

Image Source: Zacks Investment Research

The stock’s annual bottom-line estimates have remained constant over the past 60 days.

Image Source: Zacks Investment Research

RTX’s ValuationIn terms of valuation, RTX’s forward 12-month price-to-sales (P/S) is 2.76X, a premium to the industry average of 2.64X. This suggests that investors will be paying a higher price than the company's expected sales growth compared with its industry average.

Image Source: Zacks Investment Research

General Dynamics and Lockheed Martin are trading at a discount in comparison with RTX. GD’s forward 12-month price-to-sales is 1.80X, while LMT’s forward 12-month price-to-sales is 1.56X.

Liquidity Position of RTXRTX has a current ratio of 1.02. The ratio, being more than one, indicates that RTX possesses sufficient capital to pay off its short-term debt obligations.

Its industry peers, General Dynamics and Lockheed Martin, also maintain current ratios above one. GD has a current ratio of 1.38, while LMT holds 1.14.

What Should an Investor do Now?RTX continues to benefit from rising earnings estimates, solid long-term growth prospects and a strong liquidity position. Backed by these strengths and its expanding presence across the aerospace and defense markets, the stock remains a compelling choice for investors seeking long-term growth.

RTX currently carries a Zacks Rank #2 (Buy). You can see  the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Award continues program expansion capacity to meet rising domestic and international demand

, /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, was awarded a $1.1 billion contract from the U.S. Navy to produce AIM-9X Block II missiles to bolster U.S. military inventory and meet increased demand from allied nations.

Under the contract, Raytheon will produce AIM-9X missiles along with associated hardware and software for U.S. and Foreign Military Sales customers.

"Our teams have streamlined production, shortened lead times and ramped up deliveries of AIM-9X missiles to keep pace with growing demand," said Barbara Borgonovi, president of Naval Power at Raytheon. "This contract, along with our close partnership with the U.S. Navy, allows us to sustain that momentum and ensure U.S. and allied forces have this advanced, combat-proven capability they depend on in high threat environments."

AIM-9X is the most advanced infrared tracking, short-range air-to-air and surface-to-air missile, and it is combat-proven in multiple theaters around the world. The system is configured for easy installation on a wide range of modern aircraft and provides layered defense options with ground launched capabilities, including the National Advanced Surface to Air Missile System (NASAMS).

Trusted by the U.S. and more than 35 allied and partner nations, AIM-9X is a critical asset for ensuring strategic deterrence and operational advantage worldwide. To meet growing demand, Raytheon is increasing its production capacity to 2,500 missiles per year.

A majority of the work under this contract will take place in Tucson, Arizona. Raytheon is significantly expanding its engineering workforce in Tucson to support critical military programs across domains. Engineers with active security clearances and relevant technical experience ready to make a difference helping connect and protect our world can learn more by visiting our website.

About Raytheon
Raytheon, an RTX business, is a leading provider of defense solutions to help the U.S. government, our allies and partners defend their national sovereignty and ensure their security. For more than 100 years, Raytheon has developed new technologies and enhanced existing capabilities in integrated air and missile defense, smart weapons, missiles, advanced sensors and radars, interceptors, space-based systems, hypersonics and missile defense across land, air, sea and space.

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact [email protected].

SOURCE RTX