# RTX (RTX) Q2 2026 earnings

Results filed 2026-07-23 for the quarter ended 2026-06-30. Source page: https://earnings.opennash.com/companies/rtx/2026-q2/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/101829/000010182926000025/0000101829-26-000025-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

Sales of $24.7 billion, up 14 percent versus prior year, and up 16 percent organically*; Adjusted EPS* of $1.89, up 21 percent versus prior year; GAAP EPS of $1.57

RTX had a strong second quarter. Sales were $24.7 billion, up 14 percent from a year ago and 16 percent on an organic basis. Adjusted EPS rose 21 percent to $1.89, and GAAP EPS was $1.57. All three segments, Collins Aerospace, Pratt & Whitney and Raytheon, grew sales and expanded margins. Operating cash flow was $3.5 billion and free cash flow was $2.9 billion, versus roughly breakeven a year ago. Backlog reached $289 billion.
Management raised its 2026 outlook: adjusted sales of $95.0 - $96.0 billion, adjusted EPS of $7.10 - $7.25, and free cash flow of $8.50 - $8.75 billion. It says demand is robust and the backlog supports growth. The main tension is execution: RTX must turn a large backlog into deliveries while expanding capacity and productivity, and it still faces risks such as the Pratt powder metal matter, supplier constraints and trade policy.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Sales | $24.7 billion | up 14 percent versus prior year, and up 16 percent organically | GAAP |
| Net income attributable to common shareowners | $2,139 | 29% | GAAP |
| GAAP diluted EPS | $1.57 | 29% | GAAP |
| Adjusted EPS | $1.89 | up 21 percent versus prior year | non-GAAP |
| Operating profit | $2,811 |  | GAAP |
| Operating cash flow | $3.5 billion | 674% | GAAP |
| Free cash flow | $2.9 billion |  | non-GAAP |
| Adjusted net income | $2.6 billion | up 22 percent versus the prior year | non-GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Collins Aerospace sales | $8,210 | 8% |
| Pratt & Whitney sales | $8,889 | 16% |
| Raytheon sales | $8,269 | 18% |
| Collins Aerospace adjusted ROS | 16.7% | 30bps |
| Pratt & Whitney adjusted ROS | 8.3% | 30bps |
| Raytheon adjusted ROS | 12.6% | 100bps |
| Total backlog | $289 billion | up 22 percent year over year |

## Outlook

| Metric | Period | Outlook |
| --- | --- | --- |
| Adjusted sales | full year 2026 | $95.0 - $96.0 billion |
| Organic sales growth | full year 2026 | 8 to 9 percent |
| Adjusted EPS | full year 2026 | $7.10 - $7.25 |
| Free cash flow | full year 2026 | $8.50 - $8.75 billion |

## Key takeaways

1. **Organic sales growth reached 16 percent** Sales were $24.7 billion, up 14 percent versus prior year, and up 16 percent organically*. Divestitures at Collins Aerospace account for the gap.
2. **All three segments expanded margins** Adjusted ROS was 16.7% at Collins Aerospace, 8.3% at Pratt & Whitney and 12.6% at Raytheon, each higher than a year ago.
3. **Free cash flow swung from negative** Free cash flow* was $2.9 billion versus $(72) million a year earlier, on operating cash flow of $3.5 billion.
4. **Backlog is $289 billion, up 22 percent** It includes $170 billion of commercial and $119 billion of defense, which underpins the raised outlook.
5. **Full-year outlook raised across key measures** Adjusted EPS* is now $7.10 - $7.25, up from $6.70 - $6.90, and organic sales growth* is 8 to 9 percent, up from 5 to 6 percent.

## Questions

**What were RTX's second quarter 2026 results?** Sales were $24.7 billion, up 14 percent and up 16 percent organically. GAAP EPS was $1.57 and adjusted EPS was $1.89, up 21 percent.
**Did RTX raise its 2026 guidance?** Yes. Adjusted sales are now $95.0 - $96.0 billion (from $92.5 - $93.5 billion), adjusted EPS $7.10 - $7.25 (from $6.70 - $6.90), and free cash flow $8.50 - $8.75 billion (from $8.25 - $8.75 billion).
**How did RTX's three segments perform?** Sales rose 18% at Raytheon to $8,269 million, 16% at Pratt & Whitney to $8,889 million, and 8% at Collins Aerospace to $8,210 million. Adjusted operating margins expanded at all three.
**How much cash did RTX generate?** Operating cash flow was $3.5 billion and free cash flow was $2.9 billion, compared with $458 million and $(72) million a year earlier.
**How large is RTX's backlog?** Backlog was $289 billion, including $170 billion of commercial and $119 billion of defense, up 22 percent year over year.