RTX Lifts 2024 Outlook, Beats Q3 Expectations On Strong Defense And Commercial Growth

RTX Corporation (NYSE:RTX) shares are trading higher after the company’s third-quarter fiscal 2024 results exceeded street expectations.

RTX raised its 2024 outlook after adjusted net sales increased 6% year-over-year to $20.089 billion. The company beat the consensus of $19.848 billion. Adjusted EPS grew 16% to $1.45, above the consensus of $1.34.

Collins Aerospace’s sales were $7.075 billion (+7% Y/Y). This was driven by a 14% increase in defense and 9% growth in commercial aftermarket. Numbers were partially offset by an 8% decline in commercial OE sales. The adjusted operating margin contracted by 10 bps Y/Y to 15.5%.

Pratt & Whitney’s sales were $7.239 billion (+14% Y/Y), driven by a 13% increase in commercial aftermarket, 20% military growth, and a 9% rise in commercial OE. ...