NEW YORK, July 23, 2026, 9:03 a.m. EDT — RTX shares advanced in U.S. premarket trade
Shares of RTX Corporation NYSE:RTX were seen at $205.70 as of 9:00 a.m. EDT, up 5.6% compared to the previous close of $194.88 on Wednesday. S&P 500 futures slid roughly 0.5%.
RTX lifted its 2026 adjusted earnings midpoint by 5.5%, while the adjusted sales midpoint went up by 2.7%. The difference serves as the key signal for investors.
The increase reflects improved profit conversion rather than just greater volume. Each operating segment achieved higher adjusted margins in the second quarter.
| 2026 measure | Previous outlook | New outlook | Midpoint change |
|---|---|---|---|
| Adjusted sales | $92.5–$93.5 billion | $95.0–$96.0 billion | +2.7% |
| Organic sales growth | 5%–6% | 8%–9% | +3.0 points |
| Adjusted EPS | $6.70–$6.90 | $7.10–$7.25 | +5.5% |
| Free cash flow | $8.25–$8.75 billion | $8.50–$8.75 billion | +1.5% |
Calculations of midpoint changes use published ranges from RTX.
Sales for the second quarter climbed 14% to reach $24.71 billion. Adjusted earnings advanced 21% to $1.89 per share. Analysts polled by LSEG had anticipated $22.9 billion in sales and $1.66 per share in earnings.
GAAP net income attributable to shareholders increased by 29% to $2.14 billion. Free cash flow was $2.88 billion, after reporting negative $72 million a year ago.
Pratt & Whitney and Raytheon were responsible for 81% of the segment sales growth at RTX, each contributing approximately $1.26 billion in quarterly revenue. Collins Aerospace accounted for the other 19%.
| Business | Q2 sales | Sales growth | Adjusted margin | Margin change | Share of segment growth |
|---|---|---|---|---|---|
| Collins Aerospace | $8.21 billion | up 8% | 16.7% | increased by 30 basis points | accounts for 19% |
| Pratt & Whitney | $8.89 billion | up 16% | 8.3% | rose by 30 basis points | contributes 40% |
| Raytheon | $8.27 billion | up 18% | 12.6% | increased by 100 basis points | accounts for 41% |
Growth figures are derived using RTX’s disclosed segment sales data.
The backlog climbed to $289 billion, marking a 22% increase compared to a year ago. This figure is approximately three times the midpoint of the updated sales guidance. Commercial orders accounted for $170 billion, and defense orders made up $119 billion.
Chief Executive Chris Calio said, “Demand remains robust, and our backlog is up 22 percent year over year.” RTX
An initial estimate indicates Europe represents close to 35% of Raytheon’s bookings for the first half. Chief Financial Officer Neil Mitchill stated that international clients contributed roughly half, totaling $10 billion. Out of that, European orders amounted to $7 billion.
Pratt reported a 16% rise in sales, driven by a strong profit mix. Commercial aftermarket revenue climbed 25%, and military sales advanced 23%. Sales of commercial original equipment dropped 8%.
Raytheon reported expansion across land, air, sea, and space defense sectors. Higher volumes for Patriot, Standard Missile, and AMRAAM drove gains. Adjusted operating profit climbed 29%.
Collins continued as the business with the highest margins. Reported sales were up 8%, and organic growth reached 13%. Revenue from commercial original equipment increased by 26%, with aftermarket sales rising 10%.
Lockheed Martin NYSE:LMT, a peer, rose over 5% in premarket trading after lifting its 2026 forecast and disclosing a backlog of $230.4 billion. That figure represents approximately 2.9 times its sales-guidance midpoint, just below the ratio for RTX. The mix of business between the two firms varies.
Risks persist. Pratt’s GTF powder-metal inspections may increase expenses and impact airline operations. Supplier limitations, challenges in contract fulfillment, and changes in defense budgets could additionally impede backlog conversion.
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