Jun 2026 (Q2 FY26) — Jul 23, 2026
RTX Corporation Q2 FY26 — Strong Organic Growth and Raised Full-Year Outlook
Read the full callRTX (RTX) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
RTX earnings: last reported Thu, 23 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 24,708 | +14.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 11.4 | +1.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 2,139 | +29.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
28 of 38 judged targets kept · 42 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full-year adjusted EPS | $6.60 to $6.80 | Dec 2025 | We now see adjusted EPS of between $7.10 and $7.25, up for the full year up from our prior range of $6.70 to $6.90 | Revised Up |
| Critical munitions output increase (GEM-T, AMRAAM, Coyote, SM-6, Tomahawk) | significantly increase output again in 2026 | Dec 2025 | At Raytheon, we've more than doubled year-over-year output across our critical munitions through the first half of the year | On Track |
| Redstone (Huntsville) missile integration facility capacity | increase site capacity by 50% | Sep 2025 | Raytheon completed $115 million expansion of our Redstone Missile integration facility in Huntsville. This investment will increase the facility's munitions capacity by over 50% | Achieved |
10 of RTX Corp's 80 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 77 more targets are in the full ledger.
Claimed
- Adjusted sales were $24.7 billion, up 16% organically, including double-digit commercial aftermarket and defense growth.
- Adjusted EPS of $1.89 was up 21% year-over-year.
- Free cash flow was strong at $2.9 billion in the quarter.
- Backlog reached a record $289 billion, up 22% year-over-year and 6% sequentially.
- Raytheon booked nearly $20 billion of awards, resulting in a book-to-bill of 2.4% in Q2.
Qualified
Price
$192.11 −0.93% · −$1.81
Performance +21.6% 1Y
1Y: $157.95 on 17 Oct 2025 → $192.11. High $225.49 (18 Aug 2026), low $157.95 (17 Oct 2025).
- Previous close
- $193.92
- 52-week range
- $160.71 – $225.49
- One year
- +19.54%
Overview
- Symbol
- RTX
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
28 of 38 judged targets kept · 42 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full-year adjusted EPS | $6.60 to $6.80 | Dec 2025 | We now see adjusted EPS of between $7.10 and $7.25, up for the full year up from our prior range of $6.70 to $6.90 | Revised Up |
| Critical munitions output increase (GEM-T, AMRAAM, Coyote, SM-6, Tomahawk) | significantly increase output again in 2026 | Dec 2025 | At Raytheon, we've more than doubled year-over-year output across our critical munitions through the first half of the year | On Track |
| Redstone (Huntsville) missile integration facility capacity | increase site capacity by 50% | Sep 2025 | Raytheon completed $115 million expansion of our Redstone Missile integration facility in Huntsville. This investment will increase the facility's munitions capacity by over 50% | Achieved |
Claimed
- Adjusted sales were $24.7 billion, up 16% organically, including double-digit commercial aftermarket and defense growth.
- Adjusted EPS of $1.89 was up 21% year-over-year.
- Free cash flow was strong at $2.9 billion in the quarter.
- Backlog reached a record $289 billion, up 22% year-over-year and 6% sequentially.
- Raytheon booked nearly $20 billion of awards, resulting in a book-to-bill of 2.4% in Q2.
Qualified
The full ledger
Open RTX Corp’s full ledger
A free account opens 5 company ledgers a month. All 80 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 21, 2026
RTX Corporation Q1 FY26 — Strong Start with Raised Full-Year Outlook
Read the full callDec 2025 (Q4 FY25) — Jan 27, 2026
RTX Q4 FY25 — Strong Sales, EPS, and Record Backlog
Read the full callEvery analysed call
RTX earnings calls (RTX)
Financials
What the filings say
Net profit, year on year: +29% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 20,089 | 21,623 | 20,306 | 21,581 | 22,478 | 24,238 | 22,076 | 24,708 |
| Expenses | 18,195 | 19,770 | 18,275 | 19,475 | 20,018 | 21,948 | 19,585 | 21,959 |
| Operating profit | 2,028 | 2,111 | 2,035 | 2,146 | 2,523 | 2,596 | 2,555 | 2,811 |
| Operating margin | 10.1% | 9.8% | 10.0% | 9.9% | 11.2% | 10.7% | 11.6% | 11.4% |
| Other income | -122 | 102 | -77 | -106 | -85 | -299 | -35 | -69 |
| Interest | 496 | 486 | — | — | — | — | — | — |
| Profit before tax | 1,906 | 2,009 | 1,958 | 2,040 | 2,438 | 2,297 | 2,520 | 2,742 |
| Tax rate | 19.5% | 22.4% | 17.0% | 15.4% | 17.7% | 25.4% | 14.4% | 18.0% |
| Net profit | 1,472 | 1,482 | 1,535 | 1,657 | 1,918 | 1,622 | 2,059 | 2,139 |
| EPS ($ per share) | 1.10 | — | 1.15 | 1.24 | 1.43 | — | 1.53 | 1.58 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 22,514 | 23,019 | 36,930 | 37,483 | 37,939 | 37,055 | 37,434 | 38,126 |
| Reserves | 57,823 | 61,594 | 49,423 | 50,265 | 52,269 | 52,154 | 53,589 | 56,718 |
| Total liabilities | 93,492 | 95,289 | 88,269 | 86,705 | 84,650 | 100,424 | 100,903 | 103,941 |
| Fixed assets | 12,297 | 10,322 | 14,962 | 14,972 | 15,170 | 15,748 | 16,089 | 16,868 |
| Investments | — | 0 | 881 | 965 | 774 | 745 | 786 | 750 |
| Total assets | 134,211 | 139,615 | 162,153 | 161,404 | 158,864 | 161,869 | 162,861 | 171,079 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,670 | 5,821 | 4,334 | 7,142 | 7,168 | 7,883 | 7,159 | 10,567 |
| Cash from investing | -17,259 | -2,676 | 3,343 | — | -2,829 | -3,039 | -1,534 | -1,265 |
| Cash from financing | 12,209 | -1,913 | -3,860 | — | -5,859 | -4,527 | -6,617 | -7,486 |
| Net cash flow | -2,806 | 1,208 | 1,412 | -979 | -1,562 | 335 | -1,020 | 1,864 |
| Capital expenditure | -1,467 | -1,868 | -1,795 | -2,134 | -2,288 | -2,415 | -2,625 | -2,627 |
| Free cash flow | 1,203 | 3,953 | 2,539 | 5,008 | 4,880 | 5,468 | 4,534 | 7,940 |
RTX revenue by segment
Raytheon grew from 31% to 33% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Pratt and Whitney | 36% | 35% | 36% | 35% | 37% | 39% | 37% | 36% | +16.4% |
| Raytheon | 32% | 33% | 31% | — | — | — | 31% | 33% | — |
| Collins Aerospace | 35% | — | 32% | 32% | 31% | 29% | — | 31% | +9.0% |
| All Other Segments | — | — | <1% | <1% | <1% | <1% | <1% | <1% | +1.9% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
RTX operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Backlog | $217BWe exited the quarter with a backlog of $217 billion, which was up 8% year-over-year and includes $125 billion of commercial orders and $92 billion of defense awards.Source: earnings call transcript | $251BOn the orders front, our book-to-bill in the quarter was 1.63, resulting in a backlog of $251 billion, up 13% year-over-year.Source: earnings call transcript | — | $271BOur book-to-bill in the quarter was 1.14, and our backlog is a record $271 billion, up 25% year-over-year with strong commercial and defense awards in the quarter.Source: earnings call transcript | $289BOur backlog stands at yet another record of $289 billion, up 22% year-over-year and 6% sequentially.Source: earnings call transcript | +6.6% |
| Orders Raytheon | $4.4BBookings in the quarter were $4.4 billion, resulting in a book-to-bill of 0.7.Source: earnings call transcript | $15.9BBookings in the quarter were $15.9 billion, resulting in a book-to-bill of 2.27 and a record backlog of $72 billion.Source: earnings call transcript | $10.3BBookings in the quarter were $10.3 billion resulting in a book-to-bill of 1.35 and a record backlog of $75 billion with a full year book-to-bill of 1.43.Source: earnings call transcript | $6.6BAnd Raytheon booked $6.6 billion of awards in the quarter, including over $600 million to supply the Netherlands with Patriot equipment and over $400 million from the US Army for our lower-tier air and missile defense sensors.Source: earnings call transcript | $19.9BBookings in the quarter were $19.9 billion, resulting in a book-to-bill of 2.42 and a backlog of $86 billion.Source: earnings call transcript | +201.5% |
| Book-to-bill ratio Raytheon | 0.7 ratioBookings in the quarter were $4.4 billion, resulting in a book-to-bill of 0.7.Source: earnings call transcript | 2.27 ratioBookings in the quarter were $15.9 billion, resulting in a book-to-bill of 2.27 and a record backlog of $72 billion.Source: earnings call transcript | 1.35 ratioBookings in the quarter were $10.3 billion resulting in a book-to-bill of 1.35 and a record backlog of $75 billion with a full year book-to-bill of 1.43.Source: earnings call transcript | 0.96 ratioBookings in the quarter were $6.6 billion, resulting in a book-to-bill of 0.96 and a backlog of $74 billion.Source: earnings call transcript | 2.42 ratioBookings in the quarter were $19.9 billion, resulting in a book-to-bill of 2.42 and a backlog of $86 billion.Source: earnings call transcript | +152.1% |
| Book-to-bill ratio | — | 1.63 ratioOn the orders front, our book-to-bill in the quarter was 1.63, resulting in a backlog of $251 billion, up 13% year-over-year.Source: earnings call transcript | — | 1.14 ratioOur book-to-bill in the quarter was 1.14, and our backlog is a record $271 billion, up 25% year-over-year with strong commercial and defense awards in the quarter.Source: earnings call transcript | — | — |
| Backlog Raytheon | — | $72BBookings in the quarter were $15.9 billion, resulting in a book-to-bill of 2.27 and a record backlog of $72 billion.Source: earnings call transcript | $75BBookings in the quarter were $10.3 billion resulting in a book-to-bill of 1.35 and a record backlog of $75 billion with a full year book-to-bill of 1.43.Source: earnings call transcript | $74BBookings in the quarter were $6.6 billion, resulting in a book-to-bill of 0.96 and a backlog of $74 billion.Source: earnings call transcript | $86BBookings in the quarter were $19.9 billion, resulting in a book-to-bill of 2.42 and a backlog of $86 billion.Source: earnings call transcript | +16.2% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 53% ↓ 2 pt
- Europe 22%
- Asia Pacific 15% ↑ 2 pt
- Other Geographic Regions 6%
- Middle East and North Africa Member 4%
As RTX cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
70 filings between Oct 24, 2025 and Oct 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$41.78M
21 sales by 9 insiders
Compensation
not trading decisions- 9
- Award — granted as compensation
- 15
- Option exercise — converted options into shares
- 17
- Tax withheld — shares kept back by the company to cover tax
Also filed: 8 dispositions to the issuer.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Calio Christopher T. | — | $13.81M | Feb 19, 2026 |
| Mitchill Neil G. JR | — | $8.22M | Feb 19, 2026 |
| Maharajh Ramsaran | — | $6.15M | Aug 18, 2026 |
| Eddy Shane G | — | $3.49M | Feb 12, 2026 |
| DaSilva Kevin G | — | $3.14M | Jul 28, 2026 |
| Williams Dantaya M | — | $2.58M | Feb 23, 2026 |
| Brunk Troy D | — | $1.80M | Jul 24, 2026 |
| Johnson Amy L | — | $1.58M | Feb 10, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | Johnson Amy L Senior VP and Controller | Option exercise | 84 | $0 |
| Oct 1, 2026 | DaSilva Kevin G Senior VP and Treasurer | Option exercise | 143 | $0 |
| Oct 1, 2026 | DaSilva Kevin G Senior VP and Treasurer | Tax withheld | 143 | $26.5K |
| Oct 1, 2026 | Johnson Amy L Senior VP and Controller | Tax withheld | 84 | $15.5K |
| Aug 18, 2026 | Maharajh Ramsaran EVP and General Counsel | Option exercise | 20,069 | $1.44M |
| Aug 18, 2026 | Maharajh Ramsaran EVP and General Counsel | Sale | 13,655 | $3.06M |
| Aug 18, 2026 | Maharajh Ramsaran EVP and General Counsel | Disposition to issuer | 6,414 | $1.44M |
| Jul 28, 2026 | DaSilva Kevin G Senior VP and Treasurer | Sale | 2,250 | $488.1K |
| Jul 27, 2026 | Atkinson Tracy A Director | Sale | 2,295 | $500.4K |
| Jul 24, 2026 | Brunk Troy D President, Collins Aerospace | Sale | 1,811 | $381.5K |
| Jul 24, 2026 | Brunk Troy D President, Collins Aerospace | Sale | 6,746 | $1.42M |
| Jul 24, 2026 | Brunk Troy D President, Collins Aerospace | Option exercise | 12,600 | $1.23M |
| Jul 24, 2026 | Brunk Troy D President, Collins Aerospace | Disposition to issuer | 5,854 | $1.23M |
| Jul 24, 2026 | DaSilva Kevin G Senior VP and Treasurer | Sale | 4,760 | $1.02M |
| Feb 23, 2026 | Williams Dantaya M EVP & Chief HR Officer | Sale | 12,713 | $2.58M |
| Feb 19, 2026 | Mitchill Neil G. JR EVP, Chief Financial Officer | Disposition to issuer | 3,473 | $713.8K |
| Feb 19, 2026 | Calio Christopher T. Chairman, President and CEO | Disposition to issuer | 11,604 | $2.37M |
| Feb 19, 2026 | Calio Christopher T. Chairman, President and CEO | Sale | 1,041 | $213.7K |
| Feb 19, 2026 | Calio Christopher T. Chairman, President and CEO | Option exercise | 31,199 | $2.37M |
| Feb 19, 2026 | Calio Christopher T. Chairman, President and CEO | Sale | 51,107 | $10.40M |
| Feb 19, 2026 | Mitchill Neil G. JR EVP, Chief Financial Officer | Sale | 23,531 | $4.84M |
| Feb 19, 2026 | Mitchill Neil G. JR EVP, Chief Financial Officer | Sale | 6,303 | $1.30M |
| Feb 19, 2026 | Mitchill Neil G. JR EVP, Chief Financial Officer | Sale | 5,921 | $1.22M |
| Feb 19, 2026 | Mitchill Neil G. JR EVP, Chief Financial Officer | Disposition to issuer | 3,697 | $760.0K |
| Feb 19, 2026 | Calio Christopher T. Chairman, President and CEO | Sale | 11,420 | $2.34M |
| Feb 19, 2026 | Mitchill Neil G. JR EVP, Chief Financial Officer | Option exercise | 9,394 | $713.9K |
| Feb 19, 2026 | Maharajh Ramsaran EVP and General Counsel | Sale | 15,124 | $3.10M |
| Feb 19, 2026 | Mitchill Neil G. JR EVP, Chief Financial Officer | Option exercise | 10,000 | $760.0K |
| Feb 13, 2026 | DaSilva Kevin G Senior VP and Treasurer | Sale | 185 | $37.1K |
| Feb 13, 2026 | DaSilva Kevin G Senior VP and Treasurer | Sale | 7,951 | $1.60M |
| Feb 12, 2026 | Eddy Shane G President, P&W | Sale | 17,527 | $3.49M |
| Feb 10, 2026 | Johnson Amy L Senior VP and Controller | Option exercise | 10,118 | $918.0K |
| Feb 10, 2026 | Johnson Amy L Senior VP and Controller | Option exercise | 4,200 | $304.5K |
| Feb 10, 2026 | Johnson Amy L Senior VP and Controller | Sale | 8,088 | $1.58M |
| Feb 10, 2026 | Johnson Amy L Senior VP and Controller | Disposition to issuer | 6,230 | $1.22M |
| Feb 8, 2026 | Johnson Amy L Senior VP and Controller | Tax withheld | 1,469 | $291.8K |
| Feb 8, 2026 | Johnson Amy L Senior VP and Controller | Tax withheld | 1,141 | $226.7K |
| Feb 8, 2026 | JASPER PHILIP J President, Raytheon | Award | 8,074 | $1.60M |
| Feb 8, 2026 | Eddy Shane G President, P&W | Tax withheld | 13,878 | $2.76M |
| Feb 8, 2026 | Eddy Shane G President, P&W | Award | 31,405 | $6.24M |
| Feb 8, 2026 | Johnson Amy L Senior VP and Controller | Award | 3,366 | $668.7K |
| Feb 8, 2026 | DaSilva Kevin G Senior VP and Treasurer | Tax withheld | 955 | $189.7K |
| Feb 8, 2026 | DaSilva Kevin G Senior VP and Treasurer | Tax withheld | 53 | $10.5K |
| Feb 8, 2026 | DaSilva Kevin G Senior VP and Treasurer | Award | 3,366 | $668.7K |
| Feb 8, 2026 | DaSilva Kevin G Senior VP and Treasurer | Option exercise | 3,941 | $0 |
| Feb 8, 2026 | DaSilva Kevin G Senior VP and Treasurer | Tax withheld | 1,065 | $211.6K |
| Feb 8, 2026 | Calio Christopher T. Chairman, President and CEO | Tax withheld | 36,766 | $7.30M |
| Feb 8, 2026 | Calio Christopher T. Chairman, President and CEO | Tax withheld | 211 | $41.9K |
| Feb 8, 2026 | Calio Christopher T. Chairman, President and CEO | Award | 89,710 | $17.82M |
| Feb 8, 2026 | Brunk Troy D President, Collins Aerospace | Tax withheld | 631 | $125.4K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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