Collins Aerospace
saw its sales increase by 9% Y/Y to $6.7 billion, driven by a 14% rise in commercial aftermarket and original equipment (OE) sales, and a 1% increase in defense revenue. The adjusted operating margin expanded by 90 basis points (bps) to 15.7%.Pratt & Whitney
reported a 23% Y/Y surge in sales to $6.46 billion, primarily due to a 64% increase in commercial OE sales, a 21% rise in military sales, and a 9% growth in commercial aftermarket business. However, the adjusted operating margin contracted by 160 bps to 6.7%.Raytheon
recorded a 6% Y/Y growth in sales to $6.66 billion, driven by higher volumes in land and air defense systems. The adjusted operating margin improved by 20 bps to 9.5%.Overall, RTX’s adjusted earnings per share (EPS) improved by 10% Y/Y to $1.34, surpassing the consensus estimate of $1.23. The company ended the quarter with a backlog of $202 billion, with $125 billion from commercial aerospace and $77 billion from defense.
RTX reiterated its FY24 outlook, projecting sales in the range of $78 billion to $79 billion, and adjusted EPS between $5.25 and $5.40. The company anticipates a free cash flow of approximately $5.7 billion for the year.
In recent news, RTX signed an energy supply agreement with ENGIE Resources LLC, and Pratt & Whitney launched a new Maintenance, Repair, and Overhaul (MRO) center in Florida.
