RTX (RTX) jumps as 'historic demand' drives earnings, revenue beat
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RTX (RTX) Reports Q3, Announces $10B Accelerated Share Buyback
October 24, 2023 6:58 AM EDTRTX (NYSE: RTX) reported third quarter 2023 results.
Third quarter 2023
Reported sales of $13.5 billion, down 21 percent versus prior year, reflecting the impact of the previously disclosed Pratt powder metal matterAdjusted sales* of $19.0 billion, up 12 percent versus prior yearGAAP EPS from continuing operations was a loss of $0.68, which reflects $1.53 charge from the Pratt powder metal matter and $0.40 of acquisition accounting adjustments and other net significant and/or non-recurring chargesAdjusted EPS* of... MoreRTX beats Q3 estimates, approves $10 billion share repurchase
October 24, 2023 6:57 AM EDTBy Pratyush Thakur, Mike Stone and Valerie Insinna
(Reuters) -RTX reported better-than-expected quarterly earnings on Tuesday, as a strong performance at its Collins Aerospace business offset the impact from a major quality crisis at engine-making unit Pratt and Whitney.
The company also approved a $10 billion share repurchase program that will be funded through short and long-term debt.
Shares of the aerospace major were up 6.3% in early trade.
RTX said in July it had found microscopic contaminants in powdered metal, used to manufacture high-pressure turbine discs that are part of the engine's core, the presence of which... More
Raytheon Technologies (RTX) Tops Q3 EPS by 3c, Beats on Revenue; Offers FY Guidance
October 24, 2023 6:56 AM EDTRaytheon Technologies (NYSE: RTX) reported Q3 EPS of $1.25, $0.03 better than the analyst estimate of $1.22. Revenue for the quarter came in at $19 billion versus the consensus estimate of $18.59 billion.
GUIDANCE:
Raytheon Technologies sees FY2023 EPS of $4.98-$5.02, versus the consensus of $4.72. Raytheon... More
