Demand
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RTX
FY2026 Q2
상향
RTX Corporation 실적 발표
Buzzberg 분석
Record backlog of $289 billion
RTX reported a strong Q2 with 16% organic sales growth, record backlog of $289B, and raised full-year guidance across sales, EPS, and free cash flow. Management highlighted exceptional demand in both commercial aftermarket and defense, with significant international awards and progress on GTF fleet management. Adjusted sales of $24.7B (+16% organic) and EPS of $1.89 (+21% YoY) beat expectations, driven by double-digit commercial aftermarket and defense growth.
Buzzberg 분석 Record backlog of $289 billion RTX reported a strong Q2 with 16% organic sales growth, record backlog of $289B, and raised full-year guidance across sales, EPS, and free cash flow. Management highlighted exceptional demand in both commercial aftermarket and defense, with significant international awards and progress on GTF fleet management. Adjusted sales of $24.7B (+16% organic) and EPS of $1.89 (+21% YoY) beat expectations, driven by double-digit commercial aftermarket and defense growth. 전체 분석 보기분석 접기
RTX reported a strong Q2 with 16% organic sales growth, record backlog of $289B, and raised full-year guidance across sales, EPS, and free cash flow. Management highlighted exceptional demand in both commercial aftermarket and defense, with significant international awards and progress on GTF fleet management. Adjusted sales of $24.7B (+16% organic) and EPS of $1.89 (+21% YoY) beat expectations, driven by double-digit commercial aftermarket and defense growth.
- Backlog hit a record $289B (+22% YoY), with Raytheon booking $19.9B in awards including $5B+ in GEMT Patriot Effectors and $1.8B in AMRAAM.
- Guidance raised: FY2026 adjusted sales to $95-96B (from $92.5-93.5B), EPS to $7.10-7.25 (from $6.70-6.90), FCF to $8.5-8.75B (from $8.25-8.75B).
- Pratt aftermarket strength: AOGs down 25% YTD, MRO output up 40% YoY, turnaround time reduced 23% YoY.
COLLINS 매출$8.2B보고값
PRATT 매출$8.9B보고값
RAYTHEON 매출$8.3B보고값
매출$24.708B+12% 전분기 대비
근거 있는 핵심 내용 5개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Guidance
Full-year adjusted EPS raised to $7.10-$7.25
Demand
Raytheon international awards up more than 2x
핵심 내용 2개 더 보기
Other
GTF MRO output up over 40% year-over-year
Demand
Framework agreements not yet in backlog
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| COLLINS 매출 | $8.2B | 보고값 |
| PRATT 매출 | $8.9B | 보고값 |
| RAYTHEON 매출 | $8.3B | 보고값 |
| 매출 | $24.708B | +12% 전분기 대비 |
| 주당순이익(EPS) | $1.89 | +6% 전분기 대비 |
| 매출총이익률 | 20.77% | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 주당순이익(EPS) | FY2026 | $7.10–$7.25 | $7.17 | 상향 |
| 잉여현금흐름 | FY2026 | $8.5B–$8.75B | $8.625B | 상향 |
| 영업이익률COLLINS | FY2026 | $550M–$625M | $587.5M | 상향 |
| 영업이익률PRATT | FY2026 | $275M–$350M | $312.5M | 상향 |
| 영업이익률RAYTHEON | FY2026 | $575M–$650M | $612.5M | 상향 |
| 매출 | FY2026 | $95B–$96B | $95.5B | 상향 |
| 매출 | FY2026 | 8%–9% | 8.5% | 상향 |
AI, 자본지출 및 수요 분석
경영진 분석
confident
Management expressed strong confidence driven by record backlog, double-digit organic growth, raised full-year guidance, and robust demand across commercial and defense markets.
경영진의 AI 분석
Management mentioned that their connected factory network includes over 30 million annual manufacturing hours in their proprietary data and AI platform, which is strengthening operational performance by enabling faster cycle times, better quality, and improved decision-making.
투자 및 생산능력
Management discussed investments of $100 million at Raytheon for GemT component production and LTAMs test capabilities, and over $100 million at Pratt for GTF MRO capacity expansion, as well as a commercial MRO expansion in Malaysia.
아래에 언급된 기업 5개 모두 표시
기업발표 이후 수익률
고객
고객
Chris Calio
Strong order for A220 validates Airbus demand and supports further GTF engine deliveries, a positive for Airbus's narrowbody backlog.
근거
“AirAsia placed an order for 150 A220 aircraft, which are exclusively powered by GTF engines, adding a new GTF operator”
고객
Chris Calio
Continued aftermarket support for the 787 fleet underscores Boeing's widebody utilization and MRO demand.
근거
“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”
공급망
ANDURIL
공급망
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.
근거
“We've more than doubled year over year output across our critical munitions through the first half of the year”
공급망
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.
근거
“Our first domestic GEMT production order in over 30 years”
외부 신호
공급망 알파 · 3발표 이후 수익률
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.
Pratt's MRO turnaround time dropped 23% YoY and AOGs are down 25% YTD, directly improving aircraft availability for GTF operators and reducing financial burden on airlines.
근거
“PW1100 AOGs are down again sequentially and down 25% year to date. The improvement is driven by MRO output, which was up over 40% year over year, supported by a 23% reduction in turnaround time.”
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.
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 5개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.