Rtx A/s · OMXCOP:RTX
Rtx A/s — Q3 2026 Earnings Presentation
27 slides from Rtx A/s's earnings presentation, Oct 20, 2026
Slide 1: 3rd quarter 2026 Earnings conference call
3rd quarter 2026 Earnings conference call October 20, 2026 © 2026 RTX Corporation. All rights reserved.
Slide 2: Forward looking statements
Forward looking statements Note: This investor webcast presentation contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide RTX Corporat
Slide 3: 3Q 2026 highlights
3Q 2026 $25.0B $2.26 $2.1B highlights Adjusted sales* Adjusted EPS* Free cash flow* ▲12% organic* growth ▲33% growth* ▲16% commercial aftermarket ▲56 cents,* including 25 cents growth** of IEEPA cost recovery $340B Outlook RTX backlog Raising adjusted sales,* adjusted ▲36% growth EPS,* and free cash
Slide 4: Performance highlights
► Improved PW1100 MRO output by over 35% Performance year-over-year highlights ► Advancing structural cost actions across Collins to support further margin expansion DRIVING BEST-IN-CLASS ► Ramping critical munitions output at Raytheon Photo: Standard Missile-6 PERFORMANCE THROUGH: ► Executing on ou
Slide 5: 3Q 2026 results
ADJUSTED SALES* $25.0B GAAP EPS1 $22.5B $1.89 11% 3Q 2026 Adjusted growth* ▲34% $1.41 results 12% GAAP Organic growth* 2025 2026 2025 2026 REPORTED SALES ADJUSTED EPS*1 $22.5B $25.0B $2.26 KEY TAKEAWAYS $1.70 • 12% organic sales growth* CASH FLOW ▲33% Adjusted* ▲10% commercial OE** Operating Free Ca
Slide 6: RTX 2026 outlook
ADJUSTED SALES* RTX 2026 ▲$97.0B - $97.5B outlook Prior: $95.0B - $96.0B ORGANIC SALES GROWTH %* ▲10% - 11% Prior: 8% - 9% ADJUSTED EPS* ▲$7.65 - $7.75 Prior: $7.10 - $7.25 FREE CASH FLOW* ▲$9.0B - $9.2B Prior: $8.50B - $8.75B *See Appendix for additional information regarding these non-GAAP financi
Slide 7: Collins Aerospace
HIGHLIGHTS ($ millions) ▲10% ▲50% Collins Adjusted sales* Adjusted operating profit* Aerospace ▲12% • Commercial OE up 23%** • Commercial aftermarket up 9%** • Higher commercial volume • Favorable commercial mix Organic sales* • Defense up 7%** • IEEPA recovery of approximately $250M 3Q 2026 results
Slide 8: Pratt & Whitney
HIGHLIGHTS ($ millions) ▲10% ▲29% Pratt & Adjusted sales* Adjusted operating profit* Whitney ▲10% • Commercial OE down 5% • Commercial aftermarket up 21% • Higher commercial aftermarket volume • IEEPA recovery of approximately $160M Organic sales* • Military up 2% • Unfavorable large commercial OE m
Slide 9: Raytheon
HIGHLIGHTS ($ millions) ▲14% ▲32% $130B Raytheon Adjusted sales* Adjusted operating profit* Backlog ▲14% • Higher volume on naval programs • Improved net productivity • Higher volume • $23.0B Tomahawk • $14.3B AMRAAM Organic sales* • Higher volume on land and air • Favorable mix, including • $3.1B B
Slide 10: Key takeaways
Key takeaways Strong financial performance driven by execution Exceptionally well positioned across commercial and defense end markets Raising 2026 outlook for adjusted sales,* adjusted EPS,* and free cash flow* Focused on strategic priorities to drive top and bottom-line growth this year and beyond
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Slide 12: Appendix
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Slide 13: Use and definitions of non-GAAP financial measures
Use and definitions of non-GAAP financial measures NON-GAAP MEASURE DEFINITION RTX Corporation (“RTX” or “the Company”) reports its financial results in accordance Adjusted net sales / Represents consolidated net sales (a GAAP measure), excluding net significant and/or non-recurring items1 (hereinaf
Slide 14: 2026 segment outlook
2026 segment outlook ADJUSTED SALES ORGANIC SALES ADJUSTED OPERATING VPY%* VPY%* PROFIT VPY* ($M) Current Up high-single digits Up low double digits $925 - $975 COLLINS AEROSPACE Prior Up mid to high-single digits Up high-single to low double digits $550 - $625 Current Up high-single digits Up high-
Slide 15: Additional 2026 items
Additional 2026 items* FY 2026 Outlook ADJUSTED EFFECTIVE TAX RATE** FAS/CAS OPERATING ADJUSTMENT ~18.0% - 18.5% ~$675M Prior: ~18.0% - 18.5% Prior: ~$650M INTEREST EXPENSE NON-SERVICE PENSION INCOME ~$1,600M ~$1,400M Prior: ~$1,625M Prior: ~$1,400M CORPORATE EXPENSE AND OTHER UNALLOCATED ITEMS CAPE
Slide 16: P&W engine shipments to customers
RTX: P&W engine shipments to customers 2025 2026 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 MILITARY 51 40 63 73 227 61 70 75 LARGE COMMERCIAL 250 227 266 312 1,055 235 260 269 PRATT & WHITNEY CANADA1 518 521 516 571 2,126 497 522 558 1Excludes APUs 16
Slide 17: 3Q 2026: RTX free cash flow reconciliation
3Q 2026: RTX free cash flow reconciliation ($ millions) 3Q 2026 NET INCOME $2,708 DEPRECIATION & AMORTIZATION 1,068 CHANGE IN WORKING CAPITAL (1,228) OTHER 320 CASH FLOW FROM OPERATING ACTIVITIES $2,868 CAPITAL EXPENDITURES (749) FREE CASH FLOW $2,119 17
Slide 18: 3Q 2026: RTX sales reconciliation
3Q 2026: RTX sales reconciliation ($ millions) TOTAL ACQUISITIONS & ORGANIC 3Q 2025 ADJUSTED ORGANIC CHANGE AS A % REPORTED FX/OTHER DIVESTITURES CHANGE SALES1 OF ADJUSTED SALES CHANGE COLLINS AEROSPACE $761 ($138) ($8) $907 $7,621 12% PRATT & WHITNEY 808 — (8) 816 8,423 10% RAYTHEON 986 — 6 980 7,0
Slide 19: RTX: restructuring costs
RTX: restructuring costs ($ MILLIONS) 2026 2025 RESTRUCTURING IMPACT TO: Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 OPERATING PROFIT (LOSS) COLLINS AEROSPACE $9 ($64) $6 ($113) ($39) ($17) ($35) ($204) PRATT & WHITNEY (1) (2) 3 (10) (8) — (3) (21) RAYTHEON (4) (1) (1) — (4) — —
Slide 20: 2025 reported to adjusted
RTX: 2025 reported to adjusted ($ MILLIONS) REPORTED RESTRUCTURING & NET SIGNIFICANT ADJUSTED1 (UNAUDITED) AND/OR NON-RECURRING ITEMS1 (UNAUDITED) NET SALES Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 COLLINS AEROSPACE $7,21
Slide 21: 2026 reported to adjusted
RTX: 2026 reported to adjusted ($ MILLIONS) REPORTED RESTRUCTURING & NET SIGNIFICANT ADJUSTED1 (UNAUDITED) AND/OR NON-RECURRING ITEMS1 (UNAUDITED) NET SALES Q1 2026 Q2 2026 Q3 2026 Q1 2026 Q2 2026 Q3 2026 Q1 2026 Q2 2026 Q3 2026 COLLINS AEROSPACE $7,602 $8,210 $8,382 $— $— $— $7,602 $8,210 $8,382 PR
Slide 22: Reconciliation of GAAP to adjusted: Collins Aerospace
RTX: reconciliation of GAAP to adjusted COLLINS AEROSPACE (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 COLLINS AEROSPACE Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $7,602 $8,210 $8,382 $7,217 $7,622 $7,621 $7,736 $30,196 OPERATING PROFIT $1,307 $1,306 $1,789 $1,088 $
Slide 23: Reconciliation of GAAP to adjusted: Pratt & Whitney
RTX: reconciliation of GAAP to adjusted PRATT & WHITNEY (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 PRATT & WHITNEY Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $8,173 $8,889 $9,231 $7,366 $7,631 $8,423 $9,496 $32,916 OPERATING PROFIT $710 $738 $608 $580 $492 $751 $77
Slide 24: Reconciliation of GAAP to adjusted: Raytheon
RTX: reconciliation of GAAP to adjusted RAYTHEON (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 RAYTHEON Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $6,945 $8,269 $8,031 $6,340 $7,001 $7,045 $7,657 $28,043 OPERATING PROFIT $841 $1,042 $1,133 $678 $805 $859 $885 $3,227 R
Slide 25: Reconciliation of GAAP to adjusted: non-segment operating profit
RTX: reconciliation of GAAP to adjusted NON-SEGMENT OPERATING PROFIT (LOSS) (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 ELIMINATIONS AND OTHER Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES ($644) ($660) ($679) ($617) ($673) ($611) ($651) ($2,552) OPERATING PROFIT (LOSS
Slide 26: Reconciliation of GAAP to adjusted: income and EPS
RTX: reconciliation of GAAP to adjusted CONSOLIDATED INCOME, EARNINGS PER SHARE (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 INCOME (EXPENSES) Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $2,059 $2,139 $2,583 $1,535 $1,657 $1,918 $1,
Slide 27: Reconciliation of GAAP to adjusted: segment sales and profit
RTX: reconciliation of GAAP to adjusted SEGMENT NET SALES AND OPERATING PROFIT AND MARGIN (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 INCOME (EXPENSES) Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $22,076 $24,708 $24,965 $20,306 $21,581 $22,478 $24,238 $88,603 RECONCI