What guidance did RTX's management provide for the next earnings period?

Did RTX beat or miss consensus estimates last quarter?

What is RTX's gross profit margin?

What is the revenue and EPS growth rate for RTX year over year?

What factors drove the changes in RTX's revenue and profit?

What were the key takeaways from RTX's earnings call?

What is the market's earnings forecast for RTX next quarter?

What were the key takeaways from RTX’s earnings call?

- **Revenue Growth**: FY2025 at $88.6B (+11%), 2026 outlook of $92-93B (+5-6%).
- **Profitability**: 2025 EPS of $6.29, 2026 guidance of $6.60-6.80.
- **Defense Expansion**: $10.5B 2026 CapEx, 23% YoY backlog growth to $268B.
- **GTF Momentum**: MRO output up 26% in 2025, targeting similar growth in 2026.
- **Free Cash Flow**: $7.9B in 2025, $8.25-8.75B in 2026.

**【CEO Summary Section】**
- **Record Financial Performance**: FY2025 revenue of $88.6B (+11% organically), adjusted EPS of $6.29 (+10%), and free cash flow of $7.9B (+78%).
- **Strong Backlog Growth**: Full-year book-to-bill of 1.56, ending with $268B backlog (+23% YoY), including $161B commercial and $107B defense orders.
- **2026 Outlook**: $92-93B sales (+5-6% organically), $6.60-6.80 EPS, and $8.25-8.75B free cash flow.
- **Strategic Priorities**: AI-driven productivity, defense modernization, and GTF engine expansion.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: $24.2B sales (+12% adjusted, +14% organic), $1.55 adjusted EPS, and $3.2B free cash flow.
- **Segment Performance**:
  - **Collins**: $7.7B sales (+8% organic), $1.2B operating profit, 9% organic growth.
  - **Pratt**: $9.5B sales (+25%), $776M operating profit, 17% organic growth.
  - **Raytheon**: $7.7B sales (+7%), $885M operating profit, 6% organic growth.
- **2026 Guidance**: 5-6% organic sales growth, $6.60-6.80 EPS, and $8.25-8.75B free cash flow.

**【Q&A Highlights】**
- **GTF Fleet Management**: AOGs down 20% YoY, MRO output up 26% in 2025, targeting similar growth in 2026.
- **Defense Investment**: $10.5B 2026 CapEx, including munitions capacity expansion and AI factory integration.
- **Segment Growth**: Collins (+10% OE, +high single-digit aftermarket), Pratt (+mid-single OE, +high single-digit MRO), Raytheon (+mid-high single-digit defense).

RTX Corporation (RTX) Q4 2025 Earnings Call Transcript

- **Revenue Beat**: $22.5B Q3 sales (+12% YoY), with 13% organic growth across all segments. Full-year outlook raised to $86.5-87B (+8-9% organic).
- **Profit Expansion**: Adjusted EPS guidance raised to $6.10-6.20, driven by 19% segment profit growth and 700bps margin expansion.
- **Defense Strength**: $251B backlog (+13% YoY), 1.63 book-to-bill ratio, with $8B munitions orders and $37B new awards.
- **GTF Momentum**: Pratt's GTF MRO output expected to grow 30% in 2025, supported by 29% year-over-year casting growth.
- **Cash Flow**: Free cash flow of $4B in Q3, on track for $7-7.5B annually. 2026 targets 90-100% conversion of operating profit to free cash flow.

**【CEO Summary Section】**
- **Revenue Growth**: Adjusted sales of $22.5 billion (+12% year-over-year), driven by 13% organic growth across all segments. Commercial OE, aftermarket, and defense each saw double-digit growth.
- **Segment Profit**: Adjusted segment operating profit of $2.8 billion (+19% YoY), with 700 basis points of margin expansion. Free cash flow reached $4 billion, on track for $7-7.5 billion annually.
- **Strategic Priorities**: Continued focus on AI-driven productivity, with examples like Raytheon's AMRAAM program doubling output year-to-date. Pratt's GTF MRO output expected to grow 30% in 2025, supported by material flow improvements.
- **Backlog Strength**: $251 billion backlog (+13% YoY), with 1.63 book-to-bill ratio. Defense bookings include $8 billion for munitions, while commercial orders reflect strong aftermarket demand.

**【CFO Financial Commentary】**
- **Top Line**: Full-year sales outlook raised to $86.5-87 billion (+8-9% organic growth), driven by commercial aftermarket (+mid-teens), OE (+10%), and defense (+mid-single digits).
- **Bottom Line**: Adjusted EPS raised to $6.10-6.20 (+$0.30 low end, $0.25 high end), reflecting $0.20 segment profit improvement and tax benefits. Free cash flow guidance maintained at $7-7.5 billion.
- **Tariff Impact**: $0.12 EPS benefit from tax reorganizations offset $0.04 headwind from new legislation. Full-year tariff impact remains unchanged.

**【Q&A Highlights】**
- **GTF Engine Deliveries**: Pratt on track for 30% MRO output growth in 2025, with record Gate 3 starts. Collins' 737 and 787 production ramps align with Boeing's rate increases.
- **Raytheon Margins**: 12%+ segment margin expansion driven by international programs (44% of backlog) and productivity gains. $75 million year-to-date net productivity improvements.
- **Tariff Mitigation**: Collins and Pratt seeing $90 million/year tariff headwinds, partially offset by USMCA reexports and pricing. Full-year negative engine margin headwind remains $150-200 million.
- **Free Cash Flow**: 2025 guidance ($7-7.5B) includes $2.9B debt paydown. 2026 outlook targets 90-100% conversion of operating profit to free cash flow, supported by declining powder metal compensation payments.

RTX Corporation (RTX) Q3 2025 Earnings Call Transcript

- **Revenue Beat**: Q2 sales up 9% organically to $21.6B, driven by 16% aftermarket and 6% defense growth. FY25 outlook raised to $84.75B-$85.5B (6-7% growth).
- **Defense Strength**: $150B U.S. defense spending and NATO 3.5% GDP target fuel 6% defense sales growth. Raytheon bookings up 25% YoY to $236B.
- **Tariff Mitigation**: 2025 impact reduced to $500M from $850M, with $125M incurred in H1. Collins and Pratt bear $275M and $225M respectively.
- **Free Cash Flow**: Maintained $7B-$7.5B target, with $1B recovery from Pratt strike. Long-term FCF >100% of net income.
- **Strategic Wins**: 1,000+ GTF engines booked for Wizz Air/Frontier, $5B Raytheon missile defense awards, and $765M Simmonds sale.

**【CEO Summary Section】**
- Delivered Q2 revenue growth of 9% organically, driven by 16% commercial aftermarket and 6% defense sales. Segment operating profit rose 12% YoY to $2.7B, with a 1.86 book-to-bill ratio and $236B backlog (15% YoY). 
- Pratt booked 1,000+ GTF engines for Wizz Air and Frontier, while Raytheon secured $5B in missile defense awards. Free cash flow was breakeven due to a 4-week Pratt work stoppage, expected to recover in H2.
- U.S. defense spending ($150B+ in reconciliation bill) and NATO's 3.5% GDP target support defense growth. Tariff mitigation efforts reduced 2025 impact to $500M from $850M, with $125M incurred in H1.
- Raised FY25 sales outlook to $84.75B-$85.5B (6-7% growth) and EPS to $5.80-$5.95, up from prior $6.00-$6.15 range.

**【CFO Financial Commentary】**
- Q2 adjusted EPS of $1.56 (11% YoY) driven by segment profit growth and 19.5% tax rate. GAAP EPS was $1.22, including $0.28 in acquisition adjustments.
- Full-year free cash flow maintained at $7B-$7.5B, with $1B recovery from Pratt strike and $600M tariff cash impact. Tariff mitigation includes USMCA, military duty exemptions, and pricing actions.
- FY25 adjusted sales outlook increased to $84.75B-$85.5B, with commercial aftermarket up low teens, OE high single digits, and defense mid-single digits. EPS range narrowed to $5.80-$5.95 due to tariff mitigation and volume drop-through.

**【Segment Results】**
- **Collins**: Q2 sales $7.6B (+9% organically), driven by 13% aftermarket growth. Full-year outlook: mid-single sales growth, $275M-$350M profit growth. 
- **Pratt**: Q2 sales $7.6B (+12%), with 19% aftermarket growth. Full-year outlook: low double-digit sales, $200M-$275M profit growth. 
- **Raytheon**: Q2 sales $7B (+6%), with $9.4B bookings (1.35 book-to-bill). Full-year outlook: low-single sales growth, $225M-$300M profit growth.

**【Q&A Highlights】**
- **Defense Growth**: Raytheon's 25%+ backlog growth reflects Golden Dome and international Patriot demand. FY25 defense sales up mid-single digits.
- **Tariff Mitigation**: $500M net impact for 2025, with $425M remaining after H1 $175M outflow. Collins bears $275M, Pratt $225M.
- **OE Production**: Boeing 787 ramp and Airbus A320 recovery support Collins OE growth. Pratt GTF Advantage deliveries Q4 2025.
- **Free Cash Flow**: $7B-$7.5B target includes $1B Pratt recovery and $600M tariff impact. Long-term FCF >100% of net income.
- **Margins**: Raytheon targeting 12%+ segment margin, Pratt mid-teens over time. GTF Hot Section Plus to improve time-on-wing by 90%.


RTX Corporation (RTX) Q2 2025 Earnings Call Transcript

- **Revenue Beat**: 8% organic growth driven by aftermarket and defense, free cash flow +$900M YoY.
- **Tariff Risk**: $850M pre-tax impact if tariffs remain, 70%+ exposure outside China. 1.05/share drag, back-half weighted.
- **Defense Growth**: EU $850B defense plan supports Patriot, LTAMDS. Raytheon book-to-bill >1.0 expected.
- **GTF Momentum**: MRO output up 35%, GTF Advantage certified for 2x time on wing.
- **Supply Chain Resilience**: 80%+ US-based supply chain, 20%+ reduction in overdue line items.

**【CEO Opening Remarks】**
- **Revenue Growth**: Q1 organic sales up 8%, driven by 21% growth in commercial aftermarket and 4% in defense. Free cash flow improved by $900M YoY.
- **Operational Highlights**: GTF MRO output up 35% YoY, supply chain overdue line items down 20% at Collins. $2B+ invested in US manufacturing (e.g., Pratt foundry expansion, Raytheon Tucson plant).
- **Tariff Impact**: Estimated $850M pre-tax impact if current tariffs remain, with 70%+ exposure in non-China regions. Mitigations include duty drawbacks, supply chain diversification.
- **Backlog Strength**: $217B total backlog (+8% YoY), including $125B commercial orders and $92B defense awards.

**【CFO Financial Review】**
- **Q1 Results**: Adjusted EPS $1.47 (+10% YoY), segment operating profit $2.5B (+18%). Free cash flow $792M, returning $890M to shareholders via dividends.
- **Segment Performance**: 
  - **Collins**: Sales $7.2B (+8%), operating profit $1.2B (+179M), margin +130bps.
  - **Pratt**: Sales $7.4B (+14%), operating profit $590M (+160M), margin +130bps.
  - **Raytheon**: Sales $6.3B (-5% adjusted), operating profit $678M (+48M), margin +120bps.
- **Tariff Sensitivity**: $850M impact net of mitigations, ~$1.05/share drag. 70%+ impact on commercial businesses, back-half weighted.

**【Q&A Key Themes】**
- **Defense Spending**: EU $850B+ defense plan aligns with Patriot, LTAMDS, Coyote systems. Raytheon book-to-bill expected >1.0 for 2025.
- **Tariff Mitigation**: Pricing flexibility in inflationary environment, 80%+ supply chain US-based. $250M+ annualized savings from cost transformation.
- **GTF Engine Progress**: MRO output on track for 30%+ YoY improvement. GTF Advantage FAA-certified, targeting 2x time on wing.
- **SPS Fire Impact**: Alternate suppliers and SPS recovery mitigate risk of production delays.

**【Forward Guidance】**
- **Commercial**: Mid-single-digit organic growth, 120-150 basis points margin expansion. GTF aftermarket up 20%+.
- **Defense**: Mid-single-digit sales growth, 100-150bps margin expansion. LTAMDS production ramping.
- **Tariff Scenario**: Base case excludes tariffs, but stress test shows $850M impact if tariffs remain. Watch for customer demand elasticity and supply chain resilience.

RTX (RTX)-22 Apr 25-2025 Q1 Earnings call transcript

- **Record 2024 Performance**: $80.8 billion in sales, $5.73 EPS, and $4.5 billion free cash flow. Backlog up 11% to $218 billion.
- **2025 Growth Targets**: $83-$84 billion in sales (4-6% organic), $6.00-$6.15 EPS, and $7.0-$7.5 billion free cash flow.
- **Defense Strength**: Raytheon defense backlog at 44% international mix, with $848 million Patriot deal for Romania.
- **GTF Momentum**: MRO output +30% in 2024, GTFA certification in H1 2025, and $1.1-$1.3 billion powder metal costs in 2025.
- **Productivity Gains**: 100bps margin expansion across all segments, $7.5 billion R&D for AI and advanced materials.


**【CEO Summary Section】**
- **2024 Performance Highlights**: Adjusted sales of $80.8 billion (+11% organically), adjusted EPS of $5.73 (+13%), and $4.5 billion in free cash flow. Backlog reached $218 billion (+11% YoY), with $93 billion in defense backlog.
- **2025 Outlook**: Full-year sales expected between $83 billion and $84 billion (4-6% organic growth), segment operating profit growth of 10-13%, and adjusted EPS of $6.00-$6.15 (+5-7%). Free cash flow projected at $7.0-$7.5 billion.
- **Growth Drivers**: Passenger air travel growth (IATA RPKs +8%), record airframer backlogs, and defense demand for Patriot, F135, and Coyote systems. International defense sales now 44% of Raytheon's backlog (+8pts YoY).
- **Strategic Priorities**: Executing on GTF fleet management plan, Industry 4.0 productivity improvements (e.g., 50% on-time delivery improvement at Raytheon), and $7.5 billion in R&D for AI, fuel efficiency, and directed energy.

**【CFO Financial Commentary】**
- **Q4 2024 Results**: Adjusted sales $21.6 billion (+9% YoY), segment operating profit $2.7 billion (+29%), and adjusted EPS $1.54 (+19%). Full-year free cash flow $4.5 billion, with $2.5 billion in debt paydown.
- **2025 Cash Flow**: $7.0-$7.5 billion, driven by $2.3 billion operational improvement and $1.5 billion tailwind from non-recurring items. Powder metal compensation expected at $1.1-$1.3 billion.
- **Segment Performance**: 
  - **Collins**: $28.3 billion in sales (+11% organically), 100bps margin expansion. Actuation divestiture expected mid-2025.
  - **Pratt & Whitney**: $28.1 billion in sales (+11% organically), 100bps margin expansion. GTF engine shipments +14% YoY.
  - **Raytheon**: $26.8 billion in sales (+10% organically), 100bps margin expansion. Book-to-bill ratio of 1.48.

**【Q&A Key Takeaways】**
- **GTF Engine Progress**: MRO output up 30% in 2024, with >30% growth expected in 2025. GTFA certification on track for H1 2025, with deliveries in H2.
- **Defense Demand**: Raytheon bookings of $9.5 billion in Q4, including $848 million for Romania's Patriot system. International defense spending driving 10%+ growth in land/air defense systems.
- **Supply Chain**: Pratt's isothermal forgings and castings up 12% YoY. Collins' 33 critical suppliers account for 50% of overdue line items, with embedded resources to resolve bottlenecks.
- **Cash Management**: $800 million debt reduction in Q4 2024, with $3.7 billion returned to shareholders in 2024. On track to meet $36-$37 billion capital return commitment by end-2025.


Actual																	1.78	0.4	0.58	0.74	0.9	1.03	1.26	1.08	1.15	1.16	1.21	1.27	1.22	1.29	1.25	1.29	1.34	1.41	1.45	1.54	1.47	1.56	1.7	1.55
Forecast																	1.0081	0.1272	0.5038	0.6925	0.8235	0.9283	1.086	1.0238	1.015	1.1217	1.1377	1.2406	1.1322	1.179	1.2181	1.2447	1.2334	1.2954	1.3432	1.3817	1.3523	1.4423	1.412	1.47
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+76.57%	+214.47%	+15.13%	+6.86%	+9.29%	+10.96%	+16.02%	+5.49%	+13.30%	+3.41%	+6.35%	+2.37%	+7.75%	+9.41%	+2.62%	+3.64%	+8.64%	+8.85%	+7.95%	+11.46%	+8.70%	+8.16%	+20.40%	+5.44%

Actual	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	18.21B	14.28B	14.75B	16.58B	15.25B	15.88B	16.21B	17.04B	15.72B	16.31B	16.95B	18.09B	17.21B	18.32B	18.95B	19.82B	19.30B	19.79B	20.09B	21.62B	20.31B	21.58B	22.48B	24.24B
Forecast	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	17.49B	13.52B	15.06B	16.24B	15.36B	15.83B	16.40B	17.29B	15.80B	16.60B	17.23B	18.16B	16.96B	17.68B	18.62B	19.71B	18.41B	19.29B	19.84B	20.54B	19.81B	20.64B	21.30B	22.64B
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+4.10%	+5.62%	-2.05%	+2.09%	-0.70%	+0.29%	-1.13%	-1.45%	-0.52%	-1.75%	-1.64%	-0.34%	+1.49%	+3.57%	+1.80%	+0.57%	+4.87%	+2.59%	+1.24%	+5.28%	+2.48%	+4.58%	+5.53%	+7.07%

RTX

RTX fundamentals

RTX Q4 2025 Earnings

Earnings Call

You can ask Aime

RTX

RTX fundamentals

RTX Q4 2025 Earnings

Earnings Call

RTX Earnings Call Summary for Q4/20258:30 AM on Jan 27, 2026

RTX Earnings Call Summary for Q3/20258:30 AM on Oct 21, 2025

RTX Earnings Call Summary for Q2/20258:30 AM on Jul 22, 2025

RTX Earnings Call Summary for Q1/20258:30 AM on Apr 22, 2025

RTX Earnings Call Summary for Q4/20248:30 AM on Jan 28, 2025

You can ask Aime