RTX Corporation

04/21/2026 | Press release | Distributed by Public on 04/21/2026 05:09

RTX Reports Q1 2026 Results (Form 8-K)

RTX Reports Q1 2026 Results

RTX delivers double-digit organic sales* and earnings growth in Q1;
Raises 2026 outlook for adjusted sales* and adjusted EPS,* confirms free cash flow*

ARLINGTON, Va., April 21, 2026 - RTX (NYSE: RTX) reports first quarter 2026 results.

First quarter 2026
•Sales of $22.1 billion, up 9 percent versus prior year, and up 10 percent organically*
•GAAP EPS of $1.51, including $0.27 of acquisition accounting adjustments
•Adjusted EPS* of $1.78, up 21 percent versus prior year
•Operating cash flow of $1.9 billion; free cash flow* of $1.3 billion
•Company backlog of $271 billion, including $162 billion of commercial and $109 billion of defense

Updates outlook for full year 2026
•Adjusted sales* of $92.5 - $93.5 billion, up from $92.0 - $93.0 billion
•Organic sales growth* of 5 to 6 percent
•Adjusted EPS* of $6.70 - $6.90, up from $6.60 - $6.80
•Confirms free cash flow* of $8.25 - $8.75 billion

"RTX delivered a very strong start to 2026 with organic sales and adjusted operating profit growth* across all three segments, driven by our continued focus on execution and delivering our backlog," said RTX Chairman and CEO Chris Calio.

"Our differentiated products across RTX are well positioned to support our customers' needs and we're making significant investments to increase output and accelerate the fielding of new capabilities. Given our first quarter performance and the strength we're seeing in our defense business, we are increasing adjusted sales and EPS* in our full year outlook."

First quarter 2026
RTX first quarter reported and adjusted sales* were $22.1 billion, up 9 percent over the prior year and 10 percent organically.* GAAP EPS of $1.51 included $0.27 of acquisition accounting adjustments. Adjusted EPS* of $1.78 was up 21 percent versus the prior year.


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*Adjusted net sales (also referred to as adjusted sales), organic sales, adjusted operating profit (loss) and margin percentage (ROS), segment operating profit (loss) and margin percentage (ROS), adjusted segment sales, adjusted segment operating profit (loss) and margin percentage (ROS), adjusted net income, adjusted earnings per share ("EPS"), adjusted effective tax rate, and free cash flow are non-GAAP financial measures. When we provide our expectation for adjusted net sales (also referred to as adjusted sales), adjusted EPS and free cash flow on a forward-looking basis, a reconciliation of these non-GAAP financial measures to the corresponding GAAP measures (expected diluted EPS and expected cash flow from operations) is not available without unreasonable effort due to potentially high variability, complexity, and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results. See "Use and Definitions of Non-GAAP Financial Measures" below for information regarding non-GAAP financial measures.

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The company reported net income attributable to common shareowners in the first quarter of $2.1 billion which included $0.4 billion of acquisition accounting adjustments. Adjusted net income* of $2.4 billion was up 22 percent versus the prior year driven by adjusted segment operating profit growth* across all three segments as well as lower interest and tax expense. Operating cash flow in the first quarter was $1.9 billion and capital expenditures were $0.5 billion, resulting in free cash flow* of $1.3 billion.

Summary Financial Results
1st Quarter
($ in millions, except EPS) 2026 2025 % Change
Reported
Sales $ 22,076 $ 20,306 9 %
Net Income $ 2,059 $ 1,535 34 %
EPS $ 1.51 $ 1.14 32 %
Adjusted*
Sales $ 22,076 $ 20,306 9 %
Net Income $ 2,425 $ 1,991 22 %
EPS $ 1.78 $ 1.47 21 %
Operating Cash Flow $ 1,855 $ 1,305 42 %
Free Cash Flow* $ 1,309 $ 792 65 %
Segment Results

Collins Aerospace
1st Quarter
($ in millions) 2026 2025 % Change
Reported
Sales $ 7,602 $ 7,217 5 %
Operating Profit $ 1,307 $ 1,088 20 %
ROS 17.2 % 15.1 % 210 bps
Adjusted*
Sales $ 7,602 $ 7,217 5 %
Operating Profit $ 1,298 $ 1,227 6 %
ROS 17.1 % 17.0 % 10 bps

Collins Aerospace first quarter 2026 reported and adjusted sales* of $7,602 million were up 5 percent versus the prior year. Excluding the impact of divestitures, the increase in adjusted sales* was driven by a 15 percent increase in commercial OE, a 7 percent increase in commercial aftermarket, and a 9 percent increase in defense. The increase in commercial OE sales was driven by higher volume on narrowbody and widebody platforms, and the increase in commercial aftermarket sales was driven by growth in provisioning and parts and repairs which was partially offset by lower volume in modifications and upgrades. The increase in defense sales was driven by higher volume across multiple programs.


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Collins Aerospace reported operating profit of $1,307 million was up 20 percent versus the prior year. Adjusted operating profit* of $1,298 million was up 6 percent versus the prior year. The increase was driven by drop through on higher commercial and defense volume, and lower R&D expense. This was partially offset by unfavorable commercial OE mix, the impact of divestitures completed in 2025, and higher tariffs across the business. Reported operating profit in Q1 2025 included higher restructuring charges associated with cost transformation initiatives.

Pratt & Whitney
1st Quarter
($ in millions) 2026 2025 % Change
Reported
Sales $ 8,173 $ 7,366 11 %
Operating Profit $ 710 $ 580 22 %
ROS 8.7 % 7.9 % 80 bps
Adjusted*
Sales $ 8,173 $ 7,366 11 %
Operating Profit $ 711 $ 590 21 %
ROS 8.7 % 8.0 % 70 bps

Pratt & Whitney first quarter reported and adjusted sales* of $8,173 million were up 11 percent versus the prior year. The sales growth was driven by a 19 percent increase in commercial aftermarket and a 7 percent increase in military, partially offset by a 1 percent decrease in commercial OE. The increase in commercial aftermarket was driven by higher volume, while the increase in military sales was driven by higher F135 production volume. The decrease in commercial OE sales was driven by lower engine deliveries.

Pratt & Whitney reported operating profit of $710 million was up 22 percent versus the prior year. Adjusted operating profit* of $711 million was up 21 percent versus the prior year. The increase was driven by drop through on higher commercial aftermarket and military volume. This growth was partially offset by higher operational costs, including tariffs, and higher SG&A expense.

Raytheon
1st Quarter
($ in millions) 2026 2025 % Change
Reported
Sales $ 6,945 $ 6,340 10 %
Operating Profit $ 841 $ 678 24 %
ROS 12.1 % 10.7 % 140 bps
Adjusted*
Sales $ 6,945 $ 6,340 10 %
Operating Profit $ 845 $ 678 25 %
ROS 12.2 % 10.7 % 150 bps


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Raytheon first quarter reported and adjusted sales* of $6,945 million were up 10 percent versus the prior year. This increase was driven by higher volume on land and air defense systems, including Patriot and GEM-T, as well as higher volume on naval munitions programs.

Raytheon reported operating profit of $841 million was up 24 percent versus the prior year. Adjusted operating profit* of $845 million was up 25 percent versus the prior year. The increase was driven by favorable program mix and higher volume in land and air defense systems, higher volume in naval programs, and improved net productivity.

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

Conference Call on the First Quarter 2026 Financial Results
RTX's financial results conference call will be held on Tuesday, April 21, 2026 at 8:30 a.m. ET. The conference call will be webcast live on the company's website at www.rtx.com and will be available for replay following the call. The corresponding presentation slides will be available for downloading prior to the call.

Use and Definitions of Non-GAAP Financial Measures
RTX Corporation ("RTX" or "the Company") reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information determined under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides investors with additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. We believe that these non-GAAP measures provide investors with additional insight into the Company's ongoing business performance. Other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. A reconciliation of the non-GAAP measures to the corresponding amounts prepared in accordance with GAAP appears in the tables in this Appendix. Certain non-GAAP financial adjustments are also described in this Appendix. Below are our non-GAAP financial measures:

Non-GAAP measure
Definition
Adjusted net sales / Adjusted sales
Represents consolidated net sales (a GAAP measure), excluding net significant and/or non-recurring items1 (hereinafter referred to as "net significant and/or non-recurring items").
Organic sales
Organic sales represents the change in consolidated net sales (a GAAP measure), excluding the impact of foreign currency translation, acquisitions and divestitures completed in the preceding twelve months and net significant and/or non-recurring items.
Adjusted operating profit (loss) and margin percentage (ROS)

Adjusted operating profit (loss) represents operating profit (loss) (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items. Adjusted operating profit margin percentage represents adjusted operating profit (loss) as a percentage of adjusted net sales.

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Segment operating profit (loss) and margin percentage (ROS)

Segment operating profit (loss) represents operating profit (loss) (a GAAP measure) excluding acquisition accounting adjustments2, the FAS/CAS operating adjustment3, Corporate expenses and other unallocated items, and Eliminations and other. Segment operating profit margin percentage represents segment operating profit (loss) as a percentage of segment sales (net sales, excluding Eliminations and other).
Adjusted segment sales
Represents consolidated net sales (a GAAP measure) excluding eliminations and other and net significant and/or non-recurring items.
Adjusted segment operating profit (loss) and margin percentage (ROS)

Adjusted segment operating profit (loss) represents segment operating profit (loss) excluding restructuring costs, and net significant and/or non-recurring items. Adjusted segment operating profit margin percentage represents adjusted segment operating profit (loss) as a percentage of adjusted segment sales (adjusted net sales excluding Eliminations and other).
Adjusted net income
Adjusted net income represents net income (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items.
Adjusted earnings per share (EPS)
Adjusted EPS represents diluted earnings per share (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items.
Adjusted effective tax rate
Adjusted effective tax rate represents the effective tax rate (a GAAP measure), excluding the tax impact of restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items.
Free cash flow

Free cash flow represents cash flow from operating activities (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing RTX's ability to fund its activities, including the financing of acquisitions, debt service, repurchases of RTX's common stock, and distribution of earnings to shareowners.
1 Net significant and/or non-recurring items represent significant nonoperational items and/or significant operational items that may occur at irregular intervals.

2 Acquisition accounting adjustments include the amortization of acquired intangible assets related to acquisitions, the amortization of the property, plant and equipment fair value adjustment acquired through acquisitions, the amortization of customer contractual obligations related to loss making or below market contracts acquired, and goodwill impairment, if applicable.

3 The FAS/CAS operating adjustment represents the difference between the service cost component of our pension and postretirement benefit (PRB) expense under the Financial Accounting Standards (FAS) requirements of GAAP and our pension and PRB expense under U.S. government Cost Accounting Standards (CAS) primarily related to our Raytheon segment.

When we provide our expectation for adjusted net sales (also referred to as adjusted sales), organic sales, adjusted operating profit (loss) and margin percentage (ROS), adjusted segment operating profit (loss) and margin percentage (ROS), adjusted EPS, adjusted effective tax rate, and free cash flow, on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures, as described above, generally are not available without unreasonable effort due to potentially high variability, complexity, and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results.

RTX Corporation published this content on April 21, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 21, 2026 at 11:09 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]