The raised guidance across all key metrics (sales, EPS, FCF) and record backlog signal sustained operational momentum. Watch for continued execution on the $340B backlog conversion and any updates on the Pratt & Whitney GTF powder metal issue in subsequent quarters.
Price Chart
Executive Summary
RTX reported Q3 2026 adjusted EPS of $2.26, beating the $1.78 consensus by 27%, and sales of $24.97B, above the $24.11B estimate. The company raised its full-year 2026 guidance for adjusted sales, adjusted EPS, and free cash flow, driven by double-digit organic growth across all three segments and a record $340B backlog.
Key Financial Metrics
Key Facts
- Q3 2026 adjusted EPS of $2.26, up 33% YoY, vs consensus $1.78 (beat by 27%)
- Q3 2026 sales of $24.97B, up 11% YoY, vs consensus $24.11B
- Raised FY2026 adjusted EPS guidance to $7.65-$7.75 from $7.10-$7.25
- Raised FY2026 adjusted sales guidance to $97.0-$97.5B from $95.0-$96.0B
- Raised FY2026 free cash flow guidance to $9.0-$9.2B from $8.50-$8.75B
- Record backlog of $340B, including $176B commercial and $164B defense
- Collins Aerospace adjusted operating profit up 50% YoY; Pratt & Whitney adjusted operating profit up 29% YoY; Raytheon adjusted operating profit up 32% YoY
- Q3 operating cash flow of $2.9B, free cash flow of $2.1B
Financial Impact
Q3 adjusted EPS beat consensus by $0.48 (27%), sales beat by ~$0.86B (3.6%). FY guidance raised by $0.55-$0.50 on EPS and $2.0-$1.5B on sales.
Risk Factors
- Pratt & Whitney GTF powder metal issue could drive future costs or production disruptions
- Customer bankruptcy charge of $363M at Pratt & Whitney highlights credit risk exposure
- Defense spending and geopolitical shifts could impact Raytheon's program timing
- Free cash flow declined 47% YoY in Q3 due to working capital build, though FY guidance was raised
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302913803 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | GOVT-CONTRACT | $192.23 | awaiting T+5 | — | $197.18 (+2.58%) |
Oct 21, 2026 5d ago | GOVT-CONTRACT | $194.71 | awaiting T+5 | — | $197.18 (+1.27%) |
Oct 20, 2026 6d ago | 8-K | $193.34 | awaiting T+5 | — | $197.18 (+1.99%) |
Oct 20, 2026 6d ago | Press Release | $193.34 | awaiting T+5 | — | $197.18 (+1.99%) |
Oct 16, 2026 9d ago | Institutional Cluster | $192.11 | awaiting T+5 | — | $197.18 (+2.64%) |
Oct 13, 2026 13d ago | GOVT-CONTRACT | $186.47 $191.60 | ▲ +2.75% | ▲ +2.30% | $197.18 (+5.74%) |
Oct 12, 2026 14d ago | Press Release | $186.66 $192.11 | ▲ +2.92% | ▲ +4.41% | $197.18 (+5.64%) |
Oct 1, 2026 24d ago | Press Release | $184.68 $185.97 | ▲ +0.70% | ▼ −0.46% | $197.18 (+6.77%) |
Sep 28, 2026 27d ago | Press Release | $186.94 $183.29 | ▼ −1.95% | ▼ −3.90% | $197.18 (+5.48%) |
Sep 28, 2026 28d ago | Court Ruling | $186.94 $183.29 | ▼ −1.95% | ▼ −3.90% | $197.18 (+5.48%) |
US Market Status
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