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RTX Corporation
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Latest analysis
Updated Jul 23, 2026
RTX raises FY2026 outlook across all metrics after Q2 organic sales growth of 16% and 22-percent backlog expansion to $289 billion.
RTX delivered its strongest quarterly performance in recent history, with Q2 2026 adjusted EPS of $1.89 — up 21 percent year-over-year — and free cash flow of $2.9 billion, while raising full-year adjusted sales guidance to $95.0–$96.0 billion from $92.5–$93.5 billion. Raytheon's 18-percent revenue growth, driven by Patriot, Standard Missile, and AMRAAM volume, confirms that allied munitions replenishment is the dominant near-term demand driver for the defense segment. The agreement to sell Blue Canyon Technologies for $620 million signals active portfolio rationalization even as backlog grows to $289 billion, up 22 percent year-over-year.
Tone: bullishRevenue
$88.6B
RTX 10-K · FY 2025
Employees
180,000
Revenue FY2024
$80.7B
Founded
1934
Profile
RTX 10-K Item 1 · Feb 6, 2026RTX Corporation is a global aerospace and defense company operating across three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The company serves commercial airlines, aircraft manufacturers, and government/military customers worldwide through original equipment manufacturing and extensive aftermarket services. Its defense business spans missiles, radars, air and missile defense systems, and advanced sensors across land, air, sea, and space domains.
Read filing description ↓ Collapse description ↑
RTX Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military, and government customers worldwide. We serve commercial and government customers in both the original equipment and aftermarket parts and services segments of the aerospace industry. Our defense business serves both domestic and international customers as a prime contractor or subcontractor on a broad portfolio of defense and related programs for military and government customers. RTX Corporation was incorporated in Delaware in 1934. Collins Aerospace is a leading global provider of technologically advanced aerospace and defense products, including aftermarket services for civil and military aircraft manufacturers, commercial airlines, and regional, business, and general aviation, as well as for defense and commercial space operations. Pratt & Whitney is among the world's leading suppliers of aircraft engines for commercial, military, business jet, and general aviation customers, producing the PW1000G Geared Turbofan engine family and sustaining the F135 engine for the F-35 program. Raytheon is a leading provider of defensive and offensive threat detection, tracking and mitigation capabilities for U.S. and foreign government and commercial customers, including integrated air and missile defense, smart weapons, advanced sensors and radars, interceptors, space-based systems, hypersonics, and missile defense across land, air, sea, and space. The company operates in approximately 25 countries, with manufacturing, production, and overhaul facilities worldwide, and serves both commercial and government sectors globally.
Primary products
- PW1000G Geared Turbofan (GTF) engine family
- F135 engine
- GTF Advantage engine
- XA103 engine (NGAP)
- PT6 E-Series engine family
- AMRAAM (Advanced Medium Range Air-to-Air Missile)
Business segments
End markets
Geographies
Named customers
Collins' largest commercial customers are Boeing and Airbus with combined sales, prior to discounts and incentives, of 16%, 16%, and 19% of total Collins segment sales in 2025, 2024, and 2023, respectively. Pratt & Whitney's largest commercial customer by sales is Airbus, with sales, prior to discounts and incentives, of 29%, 31%, and 48% of total Pratt & Whitney segment sales in 2025, 2024, and 2023, respectively.
“Many of our competitors have substantial financial resources and significant technological capabilities. Further, some non-U.S. competitors receive government research and development assistance, marketing subsidies, and other assistance for their products beyond the assistance that may be available to us as a U.S. company.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Consolidated net sales grew from $80.7 billion in 2024 to $88.6 billion in 2025, driven by growth across all three segments, with particularly strong gains at Pratt & Whitney and international defense sales.
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