Q2 2026 RTX Corp Earnings Call Transcript
Key Points
- RTX Corp (RTX) reported strong financial performance with adjusted sales of $24.7 billion, up 16% organically, and adjusted EPS of $1.89, up 21% year over year.
- The company achieved a record backlog of $289 billion, up 22% year over year, indicating strong demand for its products and services.
- Raytheon booked nearly $20 billion in awards, resulting in a book-to-bill ratio of 2.4, highlighting robust demand in the defense sector.
- RTX Corp (RTX) raised its full-year outlook for adjusted sales, EPS, and free cash flow, reflecting confidence in continued growth.
- The company is making strategic investments to increase production capacity and enhance operational efficiency, including $100 million investments in GTF MRO capacity and GEM-T component production.
- Despite strong performance, RTX Corp (RTX) faces challenges in managing supply chain constraints, which could impact future production rates.
- The company noted potential working capital headwinds due to increased inventory levels needed to support growth.
- There is a slowdown in revenue growth expected in the second half of the year compared to the first half, attributed to difficult year-over-year comparisons.
- Pratt & Whitney's commercial OE sales were down 8% due to engine mix, despite increased engine deliveries.
- The company is navigating complex international demand dynamics, which require careful management of co-production agreements and supplier relationships.
Good day, ladies and gentlemen, and welcome to the RTX second-quarter 2026 earnings conference call. My name is Livia, and I'll be your operator for today. As a reminder, this conference is being recorded for replay purposes. On the call today are Chris Calio, Chairman and Chief Executive Officer; Neil Mitchill, Chief Financial Officer; and Nathan Ware, Vice President of Investor Relations.
This cause being webcast live on the internet and there is a presentation available for download from RTX website at www.rtx.com. Please note, except where otherwise noted, the company will speak to results from continuing operations, excluding acquisition, accounting, and judgment, and net non-recurring and/or significant items, often referred to by management as other significant items.
The company also reminds listeners that the earnings and cash flow expectations and any other forward-looking statements provided in this call are subject to risks and uncertainties.
RTX SEC filings, including its Forms 8-K, 10-Q, and 10-K, provide
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