RTX has reported third-quarter (Q3) sales of US$20.1 billion, a 6% increase from the previous year. Adjusted sales also stood at US$20.1 billion. GAAP EPS was US$1.09, including US$0.31 of acquisition accounting adjustments and US$0.05 of restructuring and other one-off charges. Adjusted EPS was US$1.45, a 16% rise from the previous year.
Net income attributable to common shareholders was US$1.5 billion, including US$418 million in acquisition accounting adjustments and US$58 million in restructuring and other charges. Adjusted net income was US$1.9 billion, up 7%, driven by increased segment operating profit and a lower tax rate, though offset by higher interest expenses and reduced pension income. Operating cash flow reached US$2.5 billion, with capital expenditures of US$552 million, leading to free cash flow of US$2.0 billion.
The previous year’s results included a significant charge linked to Pratt powder metal, reducing sales by US$5.4 billion, net income by US$2.2 billion, and GAAP EPS by US$1.53.
Segment Performance:
- Collins Aerospace: Operating profit in Q3 2024 was US$1,062 million, an 18% increase, mainly due to higher commercial aftermarket and defence volumes, offset by lower commercial OE volume and higher R&D expenses. Adjusted operating profit was US$1,096 million, up 5%.
- Pratt & Whitney: Operating profit reached US$557 million, with adjusted operating profit of US$597 million, up 45% due to higher commercial aftermarket and military volumes. The prior year reported results included a charge related to the previously disclosed powder metal matter which reduced sales by US$5,401 million and operating profit by US$2,888 million.
- Raytheon: Operating profit was US$647 million in Q3 2024, a 16% increase, supported by improved productivity and higher volume, partly offset by the divestiture of its Cybersecurity, Intelligence and Services business. Adjusted operating profit* was US$661 million, up 16%.
