RTX (RTX) Company Report

RTX’s Collins Aerospace business secured a $438 million contract from the FAA to support the Radar System Replacement program under the Department of Transportation’s new air traffic control system modernization effort.
Collins will deliver the Condor Mk3 cooperative radar and ASR-XM non-cooperative radar, which integrate with existing infrastructure to enhance safety and operational efficiency.
More than 550 RTX radar systems are already in operation across the national airspace, providing a proven foundation for large-scale modernization.
RTX, the world’s largest aerospace and defense company, reported 2024 sales of over $80 billion and employs more than 185,000 people globally.

5 days ago

Press Release

RTX’s Raytheon wins $1.7 billion Patriot systems contract from Spain

RTX

New Projects/Investments

RTX’s Raytheon business was awarded a $1.7 billion foreign military sales contract to deliver four Patriot air and missile defense systems to Spain.
The deal is Spain’s largest Patriot order ever, covering radars, launchers, command-and-control stations, and training equipment.
Raytheon will partner with local industry, including Sener, for the GEM-T missile electro-mechanical control systems.
Patriot, deployed in 19 countries, continues to secure additional orders, with Germany, the Netherlands, and Romania also placing orders in 2025.

Dec 23, 2025, 1:30 PM

Press Release

RTX equips US Air Force autonomous fighter jet with PhantomStrike radar

RTX

New Projects/Investments

On Dec. 19, 2025, RTX’s Raytheon business won a contract to outfit the USAF’s autonomous X-62A VISTA aircraft with PhantomStrike® radar.
PhantomStrike is a first-of-its-kind, air-cooled fire-control radar using GaN technology, engineered to be smaller, lighter and consume less power than modern AESA systems.
The radar offers digital beam-forming and steering, multimode functionality and interleaved ground/air targeting at about half the cost of typical fire-control radars.
RTX, headquartered in Arlington, Virginia, is the world’s largest aerospace and defense company, with 2024 sales exceeding $80 billion.

Dec 19, 2025, 1:30 PM

Press Release

RTX’s Raytheon awarded $168 million contract for Romanian Patriot system

RTX

New Projects/Investments

RTX’s Raytheon business won a $168 million foreign military sales contract to equip Romania with the Patriot air and missile defense system.
The deal covers delivery of a radar, command and control system, launchers, plus support and test equipment.
This marks Romania’s second Patriot order in a year, following additional 2025 orders from Germany, the Netherlands, and Spain.
Patriot is a combat-proven system used by 19 countries to defend against long-range cruise missiles, tactical ballistic missiles, and air-breathing threats.

Dec 19, 2025, 8:00 AM

Press Release

RTX awarded $1.6 billion F135 sustainment contract

RTX

New Projects/Investments

Pratt & Whitney, an RTX business, secured a $1.6 billion undefinitized contract for F135 engine sustainment, supporting all three F-35 variants.
The award funds depot-level maintenance, spare parts replenishment, material management, propulsion integration, engineering support, and software sustainment for U.S. and international customers.
Pratt & Whitney’s sustainment network spans 39 bases and 12 ships globally, leveraging distributed maintenance and technical expertise.
To date, over 1,300 F135 production engines have been delivered across 20 allied nations, bolstering F-35 readiness.

Dec 2, 2025, 1:30 PM

Press Release

RTX wins $1.25B Iron Dome missile contract

RTX

New Projects/Investments

The Raytheon-Rafael joint venture secured a $1.25 billion contract to produce Tamir surface-to-air missiles for Israel’s Iron Dome at a new Arkansas facility.
The $33 million Camden plant investment will accelerate Iron Dome interceptor output and support the U.S. Marine Corps’ Medium-Range Intercept program through SkyHunter missiles.
The U.S. site is the first all-up-round production facility in the country for both Tamir and SkyHunter missiles, marking a milestone for the venture.
Iron Dome has maintained over a 95% success rate since 2011, while RTX’s recent earnings beat forecasts and its annual guidance was revised upward, reflecting strong financial performance.

Nov 21, 2025, 8:43 PM

Bloomberg

RTX wins $1.25 billion Tamir missile production contract

RTX

New Projects/Investments

RTX’s Raytheon-Rafael Protection Systems (R2S) joint venture secured a $1.25 billion direct commercial sales agreement to supply Israel with Tamir surface-to-air missiles, missile kits, and test equipment.
R2S opened a new factory in East Camden, Arkansas, backed by a $33 million capital investment to accelerate Iron Dome interceptor production for both the Israeli MOD and the U.S. SkyHunter® program.
This marks the joint venture’s first all-up-round production facility and inaugural production contract, supporting both Iron Dome and the Marine Corps’ Medium-Range Intercept Capability program.

Nov 21, 2025, 1:17 PM

Press Release

RTX outlines Q3 performance and full-year guidance

RTX

Guidance Update

Accounting Changes

New Projects/Investments

RTX posted 13% organic Q3 sales growth with $4 billion free cash flow, leading to a full-year sales outlook of $86.5–87 billion and adjusted EPS guidance of $6.10–6.20.
The company holds a $251 billion backlog and expects 2026 to deliver top-line growth that converts into margin expansion at all segments alongside increasing free cash flow.
RTX will transfer $2.5 billion of pension liabilities to an insurer, incurring a one-time pre-tax charge of ~$300 million in Q4 (non-cash, excluded from adjusted EPS) and a $200 million headwind to non-service pension income in 2026.
Defense segment is expanding capacity—$300 million invested at Raytheon this year—to meet surging munitions and integrated air defense demand, evidenced by a 1.94 book-to-bill ratio in Q3.
Capital allocation prioritizes $2.5–3 billion CapEx, R&D, dividends, and continued debt reduction (already repaid $5.78 billion, $4 billion remaining) before resuming share buybacks.

Nov 13, 2025, 2:30 PM

Transcript

RTX outlines Q3 performance and strategic priorities at Baird conference

RTX

Guidance Update

Accounting Changes

Share Buyback

Strong Q3 performance: 13% organic sales growth, aftermarket +18%, defense and OE +10% each; $4 billion free cash flow; raising full-year sales to $86.5–87 billion and adj. EPS to $6.10–6.20
Q4 execution and pension de-risking: $251 billion backlog supports Q4; limited government shutdown impact; one-time $300 million pre-tax pension settlement transferring $2.5 billion obligation to an insurer with no effect on adj. EPS
Working capital focus: elevated inventory from growth; deploying digital tools for better material allocation and supplier visibility; expect Q4 inventory reduction alongside extended payables
2026 outlook: anticipate top-line growth, margin expansion across all segments, and higher free cash flow driven by powder-metal payment completion and working capital improvements
Capital allocation strategy: investing ~$2.5 billion in CapEx and ~$3 billion in R&D annually; dividend remains priority; $5.78 billion of debt repaid with ~$4 billion left before resuming share repurchases

Nov 13, 2025, 2:30 PM

Transcript

RTX affirms 2025 guidance after strong Q3 performance at Baird conference

RTX

Guidance Update

New Projects/Investments

RTX delivered 13% organic sales growth in Q3, with aftermarket up 18% and both defense and OE up 10%; Q3 free cash flow was $4 billion, and full-year guidance remains $86.5–87 billion in sales, $6.10–6.20 in adjusted EPS, and $7–7.5 billion in free cash flow.
Plans to transfer $2.5 billion of pension obligations to an insurer, incurring a one-time $300 million pre-tax, non-cash Q4 charge (excluded from adjusted EPS) and reducing 2026 non-service pension income by about $200 million.
With a backlog of $250 billion, RTX expects continued top-line growth, margin expansion, and higher free cash flow in 2026; 2025 investments include $2.5 billion in CapEx, $3 billion in R&D, while capital allocation will prioritize dividends and paying down the remaining $4 billion of debt before resuming share buybacks.
Defense book-to-bill was 1.94 in Q3, driving capacity investments in munitions and air‐defense systems; commercial operations saw OE engine output up 8–10% and GTF production up 55% versus 2019, with aftermarket material flow on track for 30% growth.