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An aerospace and defense giant that builds jet engines, aircraft cabins, and missile-defense systems under three famous names: Pratt & Whitney, Collins Aerospace, and Raytheon. Pratt & Whitney's GTF engines power thousands of airliners and its F135 engine drives the F-35 fighter, while Raytheon's Patriot, AMRAAM, and SM-3 systems protect militaries around the world. The company came together in 2020 when Raytheon merged with United Technologies' aerospace businesses, taking the name RTX from the two.
7.50% Corporate Equity Units due 08/01/15, convertible mandatory preferred equity units with 0 stated amount — Matured 08/01/15; company merged with Raytheon in 2020 to form RTX Corporation
RTX Q2 2026 operating profit rose to $2.8B as organic sales grew 14% across all three segments
All three segments grew organically this quarter. rose 14% organically to $24.7B and climbed to $2.8B (11.4% margin) as profit grew and a prior-year customer bankruptcy charge did not recur, with of $1.51 up 32.5% . The business is growing on its own demand, with tariff refunds still pending.
Key takeaways
rose to $2.8B (11.4% margin) from $2.1B (9.9%) a year earlier, driven by $0.5B higher organic profit and the absence of a prior-year customer bankruptcy charge.
Consolidated increased 14% organically to $24.7B, with and each contributing $1.3B and Collins $1.0B in ; divestitures reduced net sales by $0.4B.
improved to $5.4B from $1.8B a year earlier, aided by higher , favorable , and a $1.5B increase in .
Section summaries
Management's Discussion and Analysis
RTX Q2 2026 net sales rose 14% organically to $24.7B, driven by growth across all three segments, with operating margin expanding to 11.4%.
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Consolidated increased 14% organically to $24.7B in Q2 2026, with and each contributing $1.3B and Collins $1.0B in .
The company paid $0.5B in IEEPA tariffs and is seeking refunds, expecting no material adverse effect but noting uncertainty.
defense reached $20B in the quarter, including $3.7B for Patriot GEM-T interceptors.
What changed
Q2 2026 powder metal matter cash outflow was not disclosed, continuing the absence first noted in Q1 2026 after the $1.1B–$1.3B full-year 2025 estimate — the trailing inspection cost trail has gone quiet in disclosures.
margin pressure from tariffs and OEM mix flagged after Q1 2026 did not show as a stated margin drop this quarter; commercial OEM and aftermarket led $1.0B organic sales growth though defense profit was pressured by mix.
commercial aftermarket trajectory continued upward with $0.9B organic sales growth within the 's $1.3B organic gain, cycling past the $0.1B Q2 2025 customer bankruptcy charge that is now absent.
sustainability on international Patriot and naval programs held, with $20B defense including $3.7B Patriot GEM-T and no prior-year contract charge distortion.
Risk factors showed no material change from the 2025 10-K, so the tariff and powder metal inspection risks carried into 2026 without new disclosure.
What to watch
Next quarter's disclosure of any powder metal matter cash outflow, absent since Q1 2026, against quarterly .
defense profit mix pressure and whether tariff impacts reappear in margin next quarter.
Resolution and refund timing of the $0.5B IEEPA tariffs paid this quarter.
defense conversion as the $20B quarter total (including $3.7B Patriot GEM-T) moves into .
rose to $2.8B (11.4% margin) from $2.1B (9.9%), driven by $0.5B higher organic profit and the absence of a prior-year customer bankruptcy charge at .
commercial aftermarket sales grew $0.9B organically, while defense surged to $20B, including $3.7B for GEM-T interceptors.
organic sales increased $1.0B, led by commercial OEM and aftermarket, but defense profit was pressured by mix; divestitures reduced by $0.4B.
improved to $5.4B from $1.8B, aided by higher , favorable , and a $1.5B increase in proceeds.
The company paid $0.5B in IEEPA tariffs and is seeking refunds; it expects no material adverse effect from current tariffs but notes uncertainty.
Quantitative and Qualitative Disclosures About Market Risk
There has been no significant change in our exposure to market risk during the six months ended June 30, 2026. For discussion of our exposure to market risk, refer to Part II, Item 7A, “Quantitative and Qualitative Disclosures About Market Risk,” contained in our 2025 Form 10-K.
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There has been no significant change in our exposure to market risk during the six months ended June 30, 2026. For discussion of our exposure to market risk, refer to Part II, Item 7A, “Quantitative and Qualitative Disclosures About Market Risk,” contained in our 2025 Form 10-K.
See “Note 16: Commitments and Contingencies” within Item 1 of this Form 10-Q for a discussion regarding material legal proceedings. Except as otherwise noted above, there have been no material developments in legal proceedings. For previously reported information about legal pro…
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See “Note 16: Commitments and Contingencies” within Item 1 of this Form 10-Q for a discussion regarding material legal proceedings.
Except as otherwise noted above, there have been no material developments in legal proceedings. For previously reported information about legal proceedings refer to Part I, Item 3, “Legal Proceedings,” of our 2025 Annual Report on Form 10-K.
You should carefully review and consider the information regarding certain factors which could materially affect our business, financial condition, or future results set forth under Item 1A in our 2025 Annual Report on Form 10-K (2025 Form 10-K). There have been no material chan…
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You should carefully review and consider the information regarding certain factors which could materially affect our business, financial condition, or future results set forth under Item 1A in our 2025 Annual Report on Form 10-K (2025 Form 10-K). There have been no material changes from the factors disclosed in our 2025 Form 10-K, although we may disclose changes to such factors or disclose additional factors from time to time in our future filings with the Securities and Exchange Commission (SEC).