RTX Corporation is a global aerospace and defense company that operates through three principal business segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The company provides advanced aerospace and defense products and aftermarket service solutions for civil and military aircraft manufacturers, commercial airlines, and defense and commercial space operations . RTX sells electric power systems, environmental control systems, flight control systems, integrated avionics, aircraft engines, and advanced capabilities in integrated air and missile defense, smart weapons, missiles, and advanced sensors .
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Collins Aerospace - Provides advanced aerospace and defense products and aftermarket service solutions for civil and military aircraft manufacturers, commercial airlines, and defense and commercial space operations. Offerings include electric power systems, environmental control systems, flight control systems, and integrated avionics .
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Pratt & Whitney - Supplies aircraft engines for commercial, military, business jet, and general aviation customers. Produces engines for wide- and narrow-body aircraft and military aircraft such as the F-35 Lightning II .
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Raytheon - Delivers advanced capabilities in integrated air and missile defense, smart weapons, missiles, and advanced sensors for U.S. and foreign government and commercial customers .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Christopher T. Calio ExecutiveBoard | President & CEO, Chairman (from April 30, 2025) | None | Christopher T. Calio became CEO on May 2, 2024, after serving as COO and President. He has been with RTX since 2005 and has held various leadership roles, including President of Pratt & Whitney. | View Report → |
Amy L. Johnson Executive | Corporate VP & Controller | None | Amy L. Johnson has been Corporate VP & Controller since September 2021. She oversees financial reporting and internal controls. Previously held finance leadership roles at Pratt & Whitney. | |
Dantaya M. Williams Executive | EVP & CHRO | None | Dantaya M. Williams has been EVP & CHRO since June 2020. She oversees RTX's human resources strategy, including workforce development and DE&I initiatives. | |
Neil G. Mitchill, Jr. Executive | EVP & CFO | None | Neil G. Mitchill, Jr. has been CFO since April 2021. He oversees RTX's financial strategy, including capital allocation and financial reporting. Previously held senior finance roles at Pratt & Whitney and UTC. | |
Philip J. Jasper Executive | President, Raytheon | None | Philip J. Jasper became President of Raytheon in January 2024. He has over 30 years of experience at RTX, previously leading Collins Aerospace's Mission Systems business unit. | |
Shane G. Eddy Executive | President, Pratt & Whitney | None | Shane G. Eddy has been President of Pratt & Whitney since March 2022. He focuses on engine production and sustainable propulsion technologies. Previously served as COO of Pratt & Whitney. | |
Troy Brunk Executive | President, Collins Aerospace | None | Troy Brunk became President of Collins Aerospace in July 2024. He has over 30 years of experience at RTX, previously leading multiple business units within Collins Aerospace. | |
Brian C. Rogers Board | Independent Director | Lowe’s Companies, Brookings Institution, Harvard Management Company, Johns Hopkins Medicine | Brian C. Rogers has been a director since 2016. He brings financial and investment expertise from his career at T. Rowe Price, where he served as Chairman and CIO. | |
Fredric G. Reynolds Board | Independent Lead Director | Pinterest, Inc. | Fredric G. Reynolds has been a director since 2016 and became Lead Director in December 2023. He brings financial and risk management expertise from his career at CBS Corporation and Viacom. | |
Leanne G. Caret Board | Independent Director | Deere & Company, FIRST, George W. Bush Institute Women’s Initiative, Kansas State University Foundation, USO Board of Governors, AIAA, Royal Aeronautical Society | Leanne G. Caret joined the RTX Board in January 2023. She brings extensive aerospace and defense expertise from her career at Boeing, where she served as President & CEO of Defense, Space & Security. | |
Robert O. Work Board | Independent Director | Govini, SparkCognition Government Services, System High | Robert O. Work has been a director since 2020. He brings defense and national security expertise from his roles as Deputy Secretary of Defense and Undersecretary of the Navy. | |
Tracy A. Atkinson Board | Independent Director | Citizens Financial Group, United States Steel Corporation, Affiliated Managers Group | Tracy A. Atkinson has been a director since 2020. She chairs the Human Capital & Compensation Committee and brings financial and risk management expertise from her career at State Street Corporation. |
- Given the challenges in the airborne and space systems leading to slower growth, can you elaborate on the specific strategies you're implementing to strengthen these areas, and what is the expected time frame for seeing tangible results?
- With the ongoing evaluation of your space business portfolio, how do you plan to address unprofitable segments, and what criteria will determine whether you invest further or exit these markets?
- Considering the importance of your GTF fleet management plan and the progress of powdered metal inspections, how confident are you in your current assumptions about fallout rates and financial impacts, and what potential risks could alter your outlook?
- As new defense technology companies gain traction, such as Palantir, how does RTX plan to stay competitive, and do you see these companies as competitive threats or potential partners?
- With the expectation of flat commercial OE at Collins and reliance on restarting shipments to Boeing, what contingency plans are in place if shipments don't resume as expected, and how will this affect your growth projections?
Research analysts who have asked questions during RTX earnings calls.
David Strauss
Barclays
4 questions for RTX
Gautam Khanna
TD Cowen
4 questions for RTX
Jason Gursky
Citigroup Inc.
4 questions for RTX
Myles Walton
Wolfe Research, LLC
4 questions for RTX
Noah Poponak
Goldman Sachs
4 questions for RTX
Peter Arment
Robert W. Baird & Co.
4 questions for RTX
Robert Stallard
Vertical Research Partners
4 questions for RTX
Ronald Epstein
Bank of America
4 questions for RTX
Scott Deuschle
Deutsche Bank
4 questions for RTX
Seth Seifman
JPMorgan Chase & Co.
4 questions for RTX
Sheila Kahyaoglu
Jefferies
4 questions for RTX
Douglas Harned
Sanford C. Bernstein & Co., LLC
3 questions for RTX
Gavin Parsons
UBS Group AG
3 questions for RTX
Scott Mikus
Melius Research
3 questions for RTX
Kristine Liwag
Morgan Stanley
2 questions for RTX
Matthew Akers
Wells Fargo & Company
2 questions for RTX
Kenneth Herbert
RBC Capital Markets
1 question for RTX
| Customer | Relationship | Segment | Details |
|---|---|---|---|
U.S. Government | Defense prime/subcontractor (largest customer) | All | Accounted for 40% of total net sales in 2024 ($32,246 million). |
Airbus | Largest commercial customer for Pratt & Whitney (GTF engine programs) | Pratt & Whitney | Accounted for 31% of Pratt & Whitney’s total segment sales in 2024. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
FlightAware | 2021 | RTX acquired FlightAware, a digital aviation company that operates flight tracking and data platforms, to integrate its capabilities into the Collins Aerospace segment, enhancing digital aviation services such as health monitoring, diagnostics, and prognostics. The deal, agreed upon on August 30, 2021, was part of a combined $1.0 billion cash outlay (with SEAKR Engineering) and was subject to customary closing conditions, including regulatory approvals. |
SEAKR Engineering | 2021 | RTX acquired SEAKR Engineering, Inc., a supplier of advanced space electronics, to bolster its space-based capabilities within the Raytheon Intelligence & Space segment and improve the reliability of satellite bus hardware and customized space electronics. This strategic bolt-on acquisition, aimed at filling key technology gaps, was executed as part of the broader transaction with expected combined cash outflows of approximately $1.0 billion, subject to standard closing conditions and regulatory approvals. |
Recent press releases and 8-K filings for RTX.
- RTX’s Raytheon business delivered its 500th ESSM Block 2 surface-to-air missile to the U.S. Navy, marking a key production milestone.
- The company plans to nearly double production rates of ESSM Block 2 by June 2026 through increased infrastructure and material investments.
- ESSM Block 2 features an upgraded dual-mode active and semi-active radar seeker, enhanced maneuverability, and improved performance over its Block 1 predecessor.
- The program is managed by the NATO SEASPARROW Consortium of 12 nations, underlining its long-term international cooperation and stable demand.
- Pratt & Whitney, an RTX business, has completed critical testing on its small turbofan engines for Collaborative Combat Aircraft, demonstrating the ability to boost thrust by up to 20% for unmanned applications.
- The enhanced commercial-off-the-shelf engines leverage their proven performance, reliability and efficiency to deliver reduced cost and weight for multiple CCA platforms.
- A second series of tests, supported by a digital twin model, is underway to evaluate inlet airflow and pressure distortions, aiming to mitigate integration risks and improve performance prediction tools.
- Raytheon, an RTX business, designed, developed and tested a ground-launched variant of the StormBreaker® smart weapon in 50 days.
- The prototype, using a commercial off-the-shelf rocket motor, reached approximately 20,000 feet during spring testing in the Mojave Desert.
- StormBreaker is network-enabled to engage moving and stationary targets in adverse conditions, is approved for F-15E and F/A-18E/F platforms, and is under integration on F-35A/B/C jets.
- Additional tests of the ground-launched StormBreaker are scheduled throughout 2025.
- Pratt & Whitney, an RTX business, is developing a new engine family offering 500–1,800 lb of thrust for munitions and Collaborative Combat Aircraft.
- The GATORWORKS team is prioritizing development speed, affordability, and leveraging additive manufacturing to reduce development and production timelines.
- A second series of tests is planned for early 2026 to further validate key design features.
- The engines will be available to domestic and international customers, broadening RTX’s military propulsion offerings.
- Collins Aerospace, an RTX business with 80,000 employees, secured a contract from the NATO Communications and Information Agency to deliver its Electronic Warfare Planning and Battle Management (EWPBM) software.
- The EWPBM solution will generate a Recognized Electromagnetic Picture and Electronic Order of Battle by integrating data from operations, intelligence systems, and other sources.
- The system automates the use of jammers and sensors to boost joint operational effectiveness, interoperability, scalability, and resilience in multi-domain warfare.
- Collins Aerospace will collaborate with NATO to rigorously test, validate, and integrate the software, enhancing NATO’s electromagnetic warfare capabilities and collective defense.
- RTX’s Raytheon and Diehl Defence sign an MOU to co-produce key elements of the Stinger® missile in Europe, extending production capacity at Diehl Defence.
- The Stinger missile is deployed by ground troops in 24 countries, including Germany and nine other NATO members, and is experiencing historically high demand for its effectiveness against short-range threats.
- Diehl Defence will assess options to increase production capacity at existing sites and other locations to support global supply.
- RTX’s Lower Tier Air and Missile Defense Sensor (LTAMDS) completed a 360-degree flight test, successfully tracking and intercepting a complex threat target using a secondary radar array.
- The radar received Milestone C designation, marking its transition from prototype to production and deployment.
- Integration with the new Large Tactical Power Source (LTPS) demonstrated LTAMDS’s ability to reach its full battlespace potential.
- In April 2025, the U.S. Army designated LTAMDS as an official program of record, and Poland became its first international customer in 2024, prompting RTX to invest in expanded production capacity.
- RTX delivered $21.6 billion in Q2 adjusted sales, up 9% organically, with segment operating profit of $2.7 billion, and a backlog of $236 billion (book-to-bill of 1.86).
- Free cash flow was breakeven, impacted by a four-week Pratt & Whitney work stoppage; full-year FCF outlook maintained at $7 – 7.5 billion.
- Full-year adjusted sales guidance raised to $84.75 – 85.5 billion (6 – 7% organic growth); adjusted EPS outlook narrowed to $5.80 – 5.95 reflecting tariff headwinds and cost discipline.
- Net tariff cost outlook improved to $500 million (from $850 million), with a $600 million cash impact, supported by USMCA coverage and pricing actions.
- Portfolio moves include sale of Simmons Precision Products for $765 million and the actuation business for $1.8 billion, alongside an 8% dividend increase.
- Citi is most constructive on defense names such as RTX, citing rising U.S. and European budgets that enhance visibility and support margin expansion as underperforming programs wrap up and new contracts commence.
- The U.S. defense policy priorities on air and missile defense designate RTX as a key beneficiary alongside Northrop Grumman, driven by increased funding under the 2025 budget and FY 2026 NDAA markup.
- European defense spending is forecast to rise from ~2–2.5% to 3.5% of GDP (5% including infrastructure), likely boosting international sales of U.S. missile systems and fifth-generation fighters like the F-35, benefiting RTX.
- Private defense‐tech M&A is active, but large‐cap companies like RTX would require confidence in revenue pull-through at current valuations before pursuing acquisitions.
- Analyst recommends considering RTX stock ahead of Tuesday earnings.
- Strong aerospace repair demand has resulted in a massive backlog at RTX.