RTX Corp Delivers Strong Q3 2024 Results, Raises Full-Year Outlook
Wednesday, Oct 23, 2024 12:00 am ET
1min read RTX Corp (RTX), the aerospace and defense giant formed by the merger of United Technologies and Raytheon, reported robust third-quarter 2024 results, driven by strong organic sales growth and a record backlog. The company's performance was marked by an 8% organic sales increase, adjusted segment margin expansion, and a significant free cash flow. In response to these positive results, RTX has raised its full-year outlook for adjusted sales and EPS.
The company's strong performance was underpinned by robust demand across its portfolio, particularly in the commercial aftermarket and defense sectors. RTX's strategic focus on operational efficiency, cost management, and execution has positioned it well to navigate the complex market environment and capitalize on growth opportunities.
RTX's record backlog of $221 billion, including $131 billion in commercial and $90 billion in defense sectors, reflects the company's ability to secure significant contracts and maintain a strong pipeline of future business. The backlog's composition, with a balanced mix of commercial and defense orders, further supports RTX's growth prospects and ensures a diversified revenue stream.
The company's commitment to shareholder value was evident in its capital return, with $1.1 billion returned to shareholders in the quarter, contributing to over $32 billion returned since the merger. RTX's focus on executing strategic priorities, driving best-in-class performance, and delivering for customers has enabled it to create long-term shareowner value.
In conclusion, RTX Corp's Q3 2024 results demonstrate the company's ability to navigate a complex market environment and capitalize on growth opportunities. With a record backlog, strong organic sales growth, and a raised full-year outlook, RTX is well-positioned to continue delivering value to its shareholders.
The company's strong performance was underpinned by robust demand across its portfolio, particularly in the commercial aftermarket and defense sectors. RTX's strategic focus on operational efficiency, cost management, and execution has positioned it well to navigate the complex market environment and capitalize on growth opportunities.
RTX's record backlog of $221 billion, including $131 billion in commercial and $90 billion in defense sectors, reflects the company's ability to secure significant contracts and maintain a strong pipeline of future business. The backlog's composition, with a balanced mix of commercial and defense orders, further supports RTX's growth prospects and ensures a diversified revenue stream.
The company's commitment to shareholder value was evident in its capital return, with $1.1 billion returned to shareholders in the quarter, contributing to over $32 billion returned since the merger. RTX's focus on executing strategic priorities, driving best-in-class performance, and delivering for customers has enabled it to create long-term shareowner value.
In conclusion, RTX Corp's Q3 2024 results demonstrate the company's ability to navigate a complex market environment and capitalize on growth opportunities. With a record backlog, strong organic sales growth, and a raised full-year outlook, RTX is well-positioned to continue delivering value to its shareholders.
