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RTX Boosts Outlook Amid Record Backlog
21 Oct
Summary
- RTX reported a record backlog of $340 billion, up 36% year-over-year.
- Full-year outlook raised for sales, EPS, and free cash flow.
- Defense bookings reached nearly $59 billion, driven by key missile awards.
RTX Corporation has achieved a record backlog of $340 billion, marking a significant 36% increase year-over-year and an 18% sequential rise. This achievement was underscored by strong third-quarter results for 2026.
The company is raising its full-year financial outlook for adjusted sales, earnings per share (EPS), and free cash flow. The adjusted sales forecast now stands between $97 billion and $97.5 billion, with adjusted EPS projected between $7.65 and $7.75. Free cash flow is now expected to be between $9 billion and $9.2 billion.
In the defense sector, RTX secured nearly $59 billion in awards, with substantial contributions from Tomahawk and AMRAAM missile programs converting framework agreements into multi-year production contracts. Collins reported $8.4 billion in sales, Pratt & Whitney $9.2 billion, and Raytheon $8 billion, with Raytheon's bookings reaching $52.3 billion and a backlog of $130 billion.
Management expressed confidence in resilient demand across sectors, despite potential economic headwinds. Key leadership changes include Jill Albertelli taking over as President of Pratt & Whitney, succeeding Shane Eddy. The company anticipates continued growth and margin improvement through 2027, with investors closely monitoring supply chain execution and budget dynamics.
