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07:30
Jul 23 ◎

RTX FY2026 Q2 Watch

RTX Corporation (RTX) FY2026 Q2 Earnings Call

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Chris Calio

Strong order for A220 validates Airbus demand and supports further GTF engine deliveries, a positive for Airbus's narrowbody backlog.

"AirAsia placed an order for 150 A220 aircraft, which are exclusively powered by GTF engines, adding a new GTF operator"

EADSY WATCH

Chris Calio

Continued aftermarket support for the 787 fleet underscores Boeing's widebody utilization and MRO demand.

"Collins signed a new five-year agreement with Air New Zealand to provide MRO services for engine nacelles on their full fleet of 787 aircraft"

BA WATCH

Neil Mitchill

Strong first half execution, record backlog, and broad-based demand across commercial aftermarket and defense drive a confident upgraded outlook with double-digit organic growth and margin expansion.

"we're raising our full year outlook for adjusted sales, EPS, and free cash flow"

RTX WATCH

Chris Calio

Raytheon more than doubled output across critical munitions and Coyote counter-UAS effector, indicating major capacity expansion that pressures competitors like Anduril in the counter-UAS market. — RTX's rapid scaling of munitions production sets a new tempo for the defense supply chain and may force rivals to accelerate their own capacity investments.

"We've more than doubled year over year output across our critical munitions through the first half of the year"

ANDURIL WATCH

Chris Calio

Raytheon received the first domestic GEMT production order in over 30 years, a rare reset of U.S. Patriot missile procurement that could reshape the missile defense industrial base. — Signals a multi-decade ramp in domestic Patriot missile purchases, driving extended production lines and component demand that competitors Lockheed and Northrop may also benefit from or seek to replicate.

"Our first domestic GEMT production order in over 30 years"

LMT WATCH NOC WATCH

HIGH

08:30
Apr 21 ◎

RTX FY2026 Q1 Watch

RTX Corporation (RTX) FY2026 Q1 Earnings Call

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Chris Kellio

Finnair selected the GTF engine for up to 46 Embraer E-2 aircraft, a notable win that underscores customer confidence despite ongoing powder metal durability issues. — The order validates that RTX's engine is competitive in the regional market and provides a direct boost to Embraer's E-Jet E2 backlog.

"Finnair announced their intention to purchase up to 46 GTF-powered Embraer E-2 aircraft."

FIA1S WATCH ERJ WATCH

Neil Mitchell

Strong Q1 execution, defense backlog growth, and favorable mix drove a raise in top-line and EPS guidance, though free cash flow was kept flat due to offsetting headwinds.

"we're raising our full year outlook for adjusted sales and EPS and maintaining our free cash flow outlook."

RTX WATCH

Chris Kellio

Ongoing negotiations with Airbus on GTF delivery levels and allocations reflect the balancing act between OE requirements and fleet health, but the relationship remains constructive.

"We will continue to work through our issues as we always do in a constructive and transparent manner."

EADSY WATCH

Chris Kellio

Pratt & Whitney powered approximately 45% of A320 deliveries in the quarter, exceeding its ~40% program share, indicating share gains versus CFM engines. — This suggests RTX is capturing more than its contractual share on the hotly contested A320 narrowbody platform, pressuring GE and Safran on their CFM product.

"Pratt powering about 45% of the A320 deliveries to date ahead of our roughly 40% sold program share."

GE WATCH SAFRY WATCH

HIGH

08:30
Jan 27 ◎

RTX FY2025 Q4 Watch

RTX Corporation (RTX) FY2025 Q4 Earnings Call

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Chris Calio

Management provided a confident 2026 outlook with broad top- and bottom-line growth, margin expansion, and strong cash generation, supported by robust demand and backlog.

"For 2026, we expect adjusted sales to be between $92 billion and $93 billion, with 5% to 6% organic growth year over year."

RTX WATCH

Neil Mitchell

Pratt & Whitney GTF MRO output rose 26% in FY2025 and 39% in Q4, accelerating despite a 40% rise in heavy shop visits, signaling improving repair capacity and falling AOGs. — Faster MRO turnaround reduces AOGs for A320neo operators, boosting fleet availability for Airbus and lessors, and may ease pressure on Pratt's spares supply.

"the rest will go between Airbus and spares."

EADSY WATCH

Chris Calio

"MRO output was up 39% in the fourth quarter and up 26% for the full year, even as heavier shop visits increased 40% in 2025."

AER WATCH

HIGH

08:30
Oct 21 ◎

RTX FY2025 Q3 Watch

RTX Corporation (RTX) FY2025 Q3 Earnings Call

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Chris Calio

Management raised revenue and EPS guidance for the full year on the back of strong Q3 execution and robust demand across commercial and defense, indicating confidence in continued momentum.

"We are raising our full year adjusted sales and EPS and maintaining our free cash flow outlook of $7 to $7.5 billion."

RTX WATCH

Neil Mitchell

RTX's Collins business is aligned with Boeing's production rate increases for the 737 and 787, implying stable demand but no surprise.

"We're pretty synchronized with Boeing and their delivery schedule."

BA WATCH

Chris Calio

PW1100 GTE MRO output is on track for ~30% growth in FY2025, enabled by record-high Gate 3 starts in Q3 and material flow improvements in isothermal forgings (+16% YoY) and structural castings (+29% YoY). — Improvements in these critical castings and forgings indicate the aviation supply chain is gradually healing, reducing a key bottleneck for GTF engine repairs and new engine deliveries.

"We're going to continue to work very closely with Airbus to make sure that they have what they need down the stretch of the year."

AIR WATCH HWM WATCH

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