RTX (RTX)
NYSE:RTX
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Earnings Data
Report Date
Jul 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.65Last Year’s EPS
1.56Same Quarter Last Year
Moderate Buy
Based on 15 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call was largely positive: RTX reported strong top‑ and bottom‑line results, meaningful margin expansion, record backlog and robust defense and commercial demand, and raised full‑year sales and EPS guidance while maintaining free cash flow targets. Operational execution milestones (GTF progress, munitions ramp, automation, and targeted capacity investments) support the upward outlook. Notable risks remain—tariff costs and refund uncertainty, negative OE engine margin pressure during the GTF transition, supply‑chain concentration and capacity needs for a large munitions ramp, and potential commercial air‑traffic softness that could affect aftermarket demand—but management articulated plans and investments to mitigate many of these issues. On balance, the highlights outweigh the lowlights.Company Guidance
Strong Top-Line and Profit Growth
Adjusted sales of $22.1B in Q1; organic sales growth ~10% year-over-year (Neil cited 9% adjusted, 10% organic). Adjusted EPS $1.78, up 21% year-over-year. Adjusted segment operating profit grew 14% year-over-year. Free cash flow of $1.3B, up $500M versus Q1 2025.
Record Backlog and Robust Orders
Company backlog reached a record $271B, up 25% year-over-year, with book-to-bill of 1.14 for the quarter. Commercial backlog up 30% year-over-year. Significant awards: Pratt military >$3B (F135 Lot 19), Collins ~ $3B (incl. $1.7B mission systems), Raytheon $6.6B (incl. >$600M Patriot to the Netherlands and >$400M U.S. Army sensors).
Raised Full-Year Outlook
RTX raised full-year adjusted sales outlook by $500M to $92.5B–$93.5B and increased adjusted EPS guidance by $0.10 to $6.70–$6.90. Free cash flow outlook maintained at $8.25B–$8.75B.
Defense and Munitions Ramp
Raytheon munitions deliveries up over 40% year-over-year in Q1. Company signed five framework agreements with the U.S. Department of Defense for critical munitions (Tomahawk, AMRAAM, Standard Missile family) to support multi-year production ramps. Investments of nearly $900M in CapEx over the last 3 years at key munitions sites; additional expansions announced (e.g., Raytheon Redstone $115M to increase munitions capacity >50%).
GTF Program Operational Progress
GTF AOGs down ~15% versus end of last year. PW1100 MRO output up 23% year-over-year; heavy shop visits increased and turnaround time improved ~20%. GTF fleet surpassed ~2,700 deliveries and >50M flight hours with ~8,000‑engine backlog. Aircraft certification for GTF Advantage achieved; entry-into-service expected later in 2026; company expects mid-to-high single-digit delivery growth for the year.
Margin Expansion and Productivity
Consolidated segment margin expanded ~70 basis points in the quarter. Raytheon expanded margins ~150 bps YoY; Pratt expanded ~70 bps YoY; Collins expanded ~10 bps YoY despite tariff headwind. Segments benefited from drop-through on higher volume, favorable mix and improved productivity.
Operational Automation and Innovation Milestones
Pratt's Singapore MRO robotics delivered 100% first-pass yield and reduced assembly time by 50%, supporting an 80% increase in output at that facility over 2 years. Raytheon demonstrated a non-kinetic Coyote variant. Collins completed mission-autonomy flight test; cross-company hybrid-electric demonstrator operated at full power (projected ~30% fuel-efficiency improvement for regional turboprops).
Balance Sheet and Cash Execution
Paid down $500M of debt in Q1, tracking to deleveraging expectations. Free cash flow outperformance in Q1 supports full-year guidance maintenance.
RTX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
RTX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 21, 2026 | $195.79 | $187.17 | -4.40% |
Jan 27, 2026 | $193.49 | $200.61 | +3.68% |
Oct 21, 2025 | $159.55 | $171.79 | +7.67% |
Jul 22, 2025 | $149.80 | $147.44 | -1.58% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does RTX (RTX) report earnings?
RTX (RTX) is schdueled to report earning on Jul 28, 2026, Before Open (Confirmed).
What is RTX (RTX) earnings time?
RTX (RTX) earnings time is at Jul 28, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RTX EPS forecast?
RTX EPS forecast for the fiscal quarter 2026 (Q2) is 1.65.
