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RTX Stock Gains 7% on Strong Q4 Earnings & Guidance

RTX Stock Gains 7% on Strong Q4 Earnings & Guidance Jan. 23, 2024, 12:24 p.m., readers: 23

Shares of RTX Corp. (NYSE:RTX) experienced a more than 7% increase intra-day today, following the announcement of their fourth-quarter earnings, which exceeded expectations, along with a positive outlook for 2024. The aerospace and defense company reported an EPS of $1.29 for the fourth quarter, surpassing the consensus estimate of $1.25. RTX's revenue for the quarter reached $19.9 billion, exceeding the expected $19.72 billion. Significant contributions came from RTX’s Collins Aerospace Systems unit, which achieved $7.12 billion in sales, higher than the anticipated $6.94 billion. Additionally, the company reported a robust free cash flow of $3.91 billion, outdoing the forecasted $3.23 billion. Looking ahead to the full fiscal year of 2024, RTX projects its EPS to be in the range of $5.25 to $5.40, compared to Wall Street’s expectation of $5.28. The company’s revenue forecast for the year is set between $78 billion and $79 billion, higher than analysts' projections of $74 billion.


R aytheon Technologies Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for aircraft manufacturers and airlines, as well as regional, business, and general aviation;

Price: 104.33
Market cap: 138.7 billion USD
Eps: 2.54
P/e ratio: 41.07
Focus Analysis On: RTX