The beat-and-raise across sales, EPS, and cash flow, combined with a $289B backlog and double-digit organic growth, signals strong operational momentum. Traders should watch for continued execution on the defense backlog and commercial aftermarket growth, as well as any updates on the Blue Canyon Technologies divestiture.
Price Chart
Executive Summary
RTX reported Q2 2026 adjusted EPS of $1.89, a 13.7% beat vs the $1.66 consensus, on sales of $24.7B (14% YoY growth). The company raised its full-year 2026 guidance for adjusted sales, adjusted EPS, and free cash flow, citing strong demand and a $289B backlog. All three segments delivered double-digit organic sales growth and margin expansion, making this a clear beat-and-raise quarter.
Key Financial Metrics
Key Facts
- Q2 2026 adjusted EPS of $1.89 beat consensus of $1.66 by 13.7%
- Sales of $24.7B were up 14% YoY and 16% organically, vs $22.88B consensus
- Raised FY2026 adjusted sales guidance to $95.0-$96.0B from $92.5-$93.5B
- Raised FY2026 adjusted EPS guidance to $7.10-$7.25 from $6.70-$6.90
- Raised FY2026 free cash flow guidance to $8.50-$8.75B from $8.25-$8.75B
- Company backlog reached $289B, up 22% YoY
- All three segments (Collins, Pratt, Raytheon) grew sales and margins YoY
- Operating cash flow was $3.5B, free cash flow was $2.9B
Financial Impact
Q2 adjusted EPS beat consensus by $0.23 (13.7%); FY2026 adjusted EPS guidance raised by $0.40 at midpoint; FY2026 adjusted sales guidance raised by $2.5B at midpoint
Risk Factors
- Execution risk on the large defense backlog
- Potential impact from tariffs and supply chain costs on margins
- Pratt Whitney GTF powder metal issue remains a long-term overhang
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000101829-26-000025 |
| Document: 0000101829-26-000025-index-headers.html | 0000101829-26-000025 |
| Document: 0000101829-26-000025-index.html | 0000101829-26-000025 |
| Document: 0000101829-26-000025.txt | 0000101829-26-000025 |
| 8-K Data (Synthetic) | 0000101829-26-000025 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 16d ago | Press Release | $196.83 $192.19 | ▼ −2.36% | ▼ −4.92% | $184.13 (−6.45%) |
Jul 31, 2026 9w ago | Press Release | $215.22 $223.03 | ▲ +3.63% | ▲ +0.12% | $184.13 (−14.45%) |
Jul 28, 2026 9w ago | Insider Cluster | $218.58 $216.65 | ▼ −0.88% | ▼ −3.15% | $184.13 (−15.76%) |
Jul 23, 2026 10w ago | 8-K | $209.16 $214.38 | ▲ +2.50% | ▲ +2.02% | $184.13 (−11.97%) |
Jul 23, 2026 10w ago | Press Release | $209.16 $214.38 | ▲ +2.50% | ▲ +2.02% | $184.13 (−11.97%) |
Jul 7, 2026 12w ago | GOVT-CONTRACT | $200.85 $193.39 | ▼ −3.71% | ▼ −4.27% | $184.13 (−8.32%) |
Jun 29, 2026 13w ago | Court Ruling | $187.33 $201.37 | ▲ +7.49% | ▲ +6.11% | $184.13 (−1.71%) |
Apr 21, 2026 23w ago | 8-K | $186.72 $175.68 | ▼ −5.91% | ▼ −6.99% | $184.13 (−1.38%) |
Mar 9, 2026 29w ago | DEFA14A | $206.97 $203.27 | ▼ −1.79% | ▼ −0.88% | $184.13 (−11.03%) |
Mar 5, 2026 30w ago | 8-K | $209.72 $204.41 | ▼ −2.53% | ▼ −1.00% | $184.13 (−12.20%) |
US Market Status
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