Key Highlights

  • Adjusted earnings per share reached $1.78 in Q1, surpassing Wall Street’s $1.51 forecast by $0.27
  • Quarterly revenue totaled $22.1 billion, reflecting a 9% annual increase and exceeding projections
  • Free cash flow surged 65% year-over-year, reaching $1.3 billion
  • Company elevated full-year adjusted EPS outlook to a range of $6.70–$6.90
  • Raytheon division achieved 10% sales growth, reaching $6.9 billion driven by land and air defense systems

RTX Corporation delivered first-quarter 2026 results that significantly exceeded analyst projections, triggering a share price increase of more than 3% during pre-market hours.

The aerospace and defense manufacturer reported adjusted earnings per share of $1.78, outpacing the Street’s $1.51 consensus by $0.27. Quarterly revenue totaled $22.1 billion, representing a 9% year-over-year increase and surpassing the $21.44 billion analyst estimate.


RTX Stock Card
RTX Corporation, RTX

Adjusted net income increased 22% to $2.4 billion for the period. The company generated $1.3 billion in free cash flow during the quarter, marking a 65% year-over-year expansion — a metric closely watched by investors.

Chief Executive Officer Chris Calio highlighted operational performance and backlog conversion. “RTX delivered a very strong start to 2026 with organic sales and adjusted operating profit growth across all three segments,” he stated.

Each of the company’s three primary divisions — Collins Aerospace, Pratt & Whitney, and Raytheon — contributed to the growth.

Military Systems Fuel Raytheon Growth

Raytheon’s quarterly sales expanded 10% to $6.95 billion, propelled by increased volume in land-based and air defense platforms. The Department of Defense has prioritized replenishing weapons stockpiles depleted by support for Ukraine’s defense against Russia and Israel’s operations in Gaza.

During April, RTX secured a $3.7 billion Pentagon contract to manufacture Patriot GEM-T interceptor missiles destined for Ukraine. This agreement highlights the robust demand environment currently benefiting Raytheon.

Since Russia’s 2022 invasion began, the United States has allocated billions toward artillery shells, ammunition, and anti-tank weaponry. Defense manufacturers stand to gain as the Pentagon executes replenishment strategies.

Commercial Aviation Maintenance Revenue Accelerates

Pratt & Whitney recorded an 11% revenue increase to $8.2 billion, with commercial aftermarket sales jumping 19%. Airlines continue operating aging fleets for extended periods due to manufacturer delivery bottlenecks and supply-chain constraints, creating increased maintenance opportunities for P&W.

This performance materializes despite friction with Airbus, which claimed in early 2026 that Pratt & Whitney failed to meet engine delivery commitments while redirecting units to maintenance facilities. Reuters reported in March that Airbus is pursuing potential compensation.

Collins Aerospace achieved a 5% sales gain to $7.6 billion, with commercial original equipment rising 15% and commercial aftermarket advancing 7%.

RTX elevated its full-year 2026 adjusted EPS guidance to a range of $6.70–$6.90, up from the previous $6.60–$6.80 outlook. The $6.80 midpoint trails the analyst consensus of $6.84 by a narrow margin.

Full-year revenue guidance received an upward revision to $92.5–$93.5 billion from the prior $92.0–$93.0 billion range. The $93.0 billion midpoint remains slightly below the $93.5 billion Street consensus.

RTX shares advanced 3.35% in pre-market trading following the earnings announcement.