RTX has reported first-quarter sales of US$19.3 billion, marking a 12% increase over the previous year. GAAP EPS rose by 32% to US$1.28, which included various adjustments such as acquisition accounting adjustments, tax audit settlements, and gains related to divestiture. Adjusted EPS stood at US$1.34, reflecting a 10% increase compared to the prior year.
RTX reported a net income attributable to common shareholders of US$1.7 billion for the first-quarter, with adjusted net income remaining flat compared to the prior year. Operating cash flow for the quarter was US$342 million, while capital expenditures amounted to US$467 million, resulting in a free cash outflow of US$125 million.
Collins Aerospace reported first-quarter sales of US$6,673 million, up 9% year-on-year, driven by growth in commercial aftermarket, commercial OE and defence segments. Operating profit for Collins Aerospace was down 5%, but adjusted operating profit increased by 16% compared to the prior year.
Pratt & Whitney recorded first-quarter sales of US$6,456 million, a significant 23% increase over the previous year, primarily driven by growth in commercial OE, military and commercial aftermarket segments. Operating profit for Pratt & Whitney was down 1%, with adjusted operating profit also declining by 1% compared to the prior year.
Raytheon had first-quarter 2024 reported sales of US$6,659 million, up 6% versus prior year. The increase in sales was primarily driven by higher volume on land and air defence systems, including Global Patriot, counter-UAS systems and NASAMS and advanced technology programmes. Raytheon recorded operating profit of US$996 million, up 74% versus the prior year. The increase in operating profit was driven primarily by higher volume and improved net productivity, partially offset by unfavourable mix. Reported operating profit included a US$375 million net gain on the sale of the Cybersecurity, Intelligence and Services business. On an adjusted basis, operating profit of US$630 million was up 8% versus the prior year.
