Adjusted earnings per share rose 21% to $1.89. GAAP earnings per share came in at $1.57. Free cash flow reached $2.9 billion for the quarter.
RTX’s total backlog climbed to $289 billion. That figure includes $170 billion in commercial orders and $119 billion in defense orders. CEO Chris Calio called demand “robust” and said the backlog is up 22% year over year.
“RTX delivered very strong second quarter results with 16 percent organic sales growth, including double-digit commercial aftermarket and defense growth, margin expansion across all three segments, and $2.9 billion of free cash flow,” Calio said.
The company now expects full-year adjusted sales of $95.0 billion to $96.0 billion. That’s up from a prior range of $92.5 billion to $93.5 billion. Organic sales growth guidance nearly doubled, moving to 8-9% from 5-6%.
Adjusted earnings per share guidance rose to $7.10-$7.25, up from $6.70-$6.90. Free cash flow guidance increased to $8.50 billion-$8.75 billion.
“Given our first half performance and current backlog, we are raising our full year outlook for adjusted sales, adjusted EPS, and free cash flow,” Calio said. “RTX is exceptionally well positioned to drive continued growth as we execute on our backlog, increase productivity, expand capacity, and introduce new technologies to our customers.”
Raytheon, the company’s weapons and defense systems unit, posted the strongest growth of RTX’s three segments. Sales rose 18% to $8.3 billion. The gains came from higher volume on land and air defense systems, naval programs, and air and space defense platforms. Patriot, Standard Missile and AMRAAM programs led the increase.
Raytheon’s operating profit jumped 29% to $1.0 billion. RTX credited higher volume, favorable program mix and improved productivity.
Pratt & Whitney sales rose 16% to $8.9 billion. Commercial aftermarket revenue climbed 25%. Military sales rose 23%, driven largely by higher volume on the F135 engine that powers the F-35 fighter jet.
Collins Aerospace sales grew 8% to $8.2 billion. Commercial original equipment sales rose 26%. Commercial aftermarket revenue increased 10%.
RTX also announced a deal to sell Raytheon’s Blue Canyon Technologies business for $620 million. The satellite component maker is a small, non-core asset within RTX’s broader portfolio.
