RTX Q1 earnings beat Street estimates
RTX Corp 
RTX is trading down in premarket on Tuesday even though it came in ahead of Street estimates for its first financial quarter.
Why is RTX stock down on Tuesday?
Investors are not entirely satisfied perhaps because the aerospace giant did not raise its guidance for the full year.
RTX continues to see its sales fall between $78 billion and $79 billion on up to $5.40 of per-share earnings in 2024. Chris Calio – chief operating officer of the New York listed firm said in a press release today:
We’re operating in one of the strongest demand periods in our history. We continue to invest in operational modernisation and production capacity, digital transformation and tech innovation to sustain growth well into the future.
The multinational ended the quarter with $202 billion of backlog. RTX stock is up roughly 20% versus the start of this year at writing.
RTX Corp Q1 earnings snapshot
- Earned $1.70 billion versus the year-ago $1.42 billion
- Per-share earnings also jumped from 97 cents to $1.28
- Adjusted EPS printed at $1.34 as per the earnings report
- Sales climbed 12% year-over-year to $19.3 billion
- Consensus was $1.23 a share on $18.4 billion in revenue
RTX forecasts about $5.7 billion of free cash flow in its fiscal 2024. COO Calio also said on Tuesday:
RTX saw strong momentum in Q1 … winning over $25 billion in new orders. We’re making progress on key priorities to deliver for customers and shareowners, including executing on our GTF fleet management plans.”