RTX Corporation - RTX STOCK NEWS

Pratt & Whitney, an RTX business, and OGMA, an Embraer company, have announced the induction of the first Pratt & Whitney GTF™ engine at OGMA's Alverca-based facility in Portugal. This marks a significant milestone in their expanding relationship and OGMA's entry as the 18th active facility in the growing GTF MRO network. OGMA joined the network in 2020 to provide services for the PW1100G-JM engine, powering the Airbus A320neo family, and will add capability for the PW1900G engine, powering Embraer E190-E2 and E195-E2 aircraft.

The expansion demonstrates Pratt & Whitney's commitment to increasing GTF MRO capacity globally. By 2025, the company expects to have 19 active GTF MRO shops worldwide. This collaboration aligns with Embraer's accelerated growth strategy and enhances OGMA's capabilities to serve operators in Europe and around the world.

RTX reported strong Q2 2024 results with 8% sales growth to $19.7 billion and 10% organic sales growth. Adjusted EPS increased 9% to $1.41. The company generated $2.2 billion in free cash flow. RTX increased its 2024 outlook for adjusted sales to $78.75-$79.5 billion and adjusted EPS to $5.35-$5.45, but lowered free cash flow guidance to $4.7 billion.

Key highlights:

• Collins Aerospace sales up 10% with 25% adjusted operating profit growth
• Pratt & Whitney sales up 19% with 23% adjusted operating profit growth
• Raytheon sales down 2% but adjusted operating profit up 7%
• $206 billion backlog ($129B commercial, $77B defense)
• $918 million charge for expected resolution of legacy legal matters

RTX's Pratt & Whitney announced over 950 GTF engine orders and commitments in 2024, accumulating over 11,000 orders and commitments globally from more than 90 customers. Major airlines and lessors such as Avolon, Breeze Airways, Cebu Pacific, Icelandair, JetSMART, Mexicana, SKY Airline, SMBC, and Vietjet have placed orders. These orders reflect customer confidence in the GTF engine's economic and environmental benefits, offering up to 20% better fuel efficiency than previous engines. The GTF Advantage engine aims to extend this lead with more thrust and higher durability. Pratt & Whitney remains focused on enhancing fleet management, industrial output, and customer support, contributing to industry sustainability goals.

Pratt & Whitney, an RTX business, has finalized agreements with Air Niugini for GTF engines to power 11 Airbus A220 aircraft. The deal includes a 12-year EngineWise® Comprehensive aftermarket support agreement. Air Niugini, the national carrier of Papua New Guinea, becomes a first-time GTF customer.

The GTF engines offer unmatched payload and range, enabling Air Niugini to open new international routes while benefiting from industry-leading fuel efficiency. This fleet modernization will revolutionize travel for Air Niugini passengers, significantly reducing fuel consumption and emissions while expanding route offerings and enhancing passenger experience.

RTX's Collins Aerospace has secured its first predictive maintenance customer in Turkey, Freebird Airlines. The airline will implement Ascentia®, a cloud-based data management and analytics platform, to enhance its A320 fleet maintenance operations. This addition complements Freebird's existing suite of Collins solutions, including OpsCore™, ARINC Hermes™, and GLOBALinkSM.

The implementation of Ascentia® will enable Freebird to analyze maintenance data, predict and reduce aircraft on-ground events, lower maintenance costs, and improve passenger experience. This collaboration marks a significant step in Freebird's digital transformation, allowing for data-driven insights to inform proactive maintenance decisions and enhance operational efficiency.

Collins Aerospace, an RTX (NYSE: RTX) business, has announced plans to relocate its Singapore manufacturing facility to a new $250 million state-of-the-art site in Seletar Aerospace Park. The move represents a significant investment and commitment to innovation in the aerospace industry. Construction is scheduled to begin in Q4 2025, with completion expected by 2027 and production commencing in 2028.

The new facility will transfer operations from the current Bedok site, maintaining dual production capability during a multi-year transition. This strategic relocation aims to enhance Collins' capabilities in aerospace components' design, development, and production. The company has been present in Singapore since 1975 and has established strong relationships with key airframers over the past 50 years.

Raytheon, an RTX business, has signed a contract with Avio to develop solid rocket motors for defense applications. This partnership aims to enhance the resilience and responsiveness of solid rocket motor production for the U.S. Defense Industrial Base. Avio completed its preliminary design development in April 2024, addressing the need for additional sources of two critical solid rocket motor systems.

The collaboration leverages Avio's Italian manufacturing and engineering capabilities to support the maturation of Avio USA and facilitate domestic solid rocket motor manufacturing. This partnership is expected to meet the increasing long-term demand from both domestic and international customers, contributing to a more robust U.S. industrial base for rocket motors.

Chilean-based SKY Airline has chosen Pratt & Whitney's GTF engine to power up to 39 Airbus A320neo family aircraft, becoming a first-time Pratt & Whitney customer. The agreement includes 10 firm A321XLR aircraft and options for 29 A320neo and A321neo aircraft. Pratt & Whitney, an RTX (NYSE: RTX) business, will provide long-term maintenance services through an EngineWise™ Comprehensive service agreement.

SKY Airline, founded in 2001, is a low-cost carrier operating a modern fleet of Airbus A320/A321neo aircraft. The airline flies to over 40 domestic and international routes in the Americas through its subsidiaries in Chile and Peru. In June 2024, SKY was named 'The best low-cost airline in South America' by SKYTRAX for the fourth time.

Pratt & Whitney, an RTX business, has delivered an F100 engine to Poland to support the readiness of its F-16 fleet. This is the first of several engines to be delivered to Poland this year. The F100 engine powers F-16 fleets in 23 global air forces and is seeing increased demand for its latest generation. Manufactured in Middletown, Connecticut, the F100 incorporates advanced technologies and has logged over 30 million engine flight hours across global F-16 and F-15 fleets.

The original F100 engines for Poland's F-16s were produced at Pratt & Whitney's Rzeszów facility, which now manufactures static structures and critical rotating parts for new F100 engines and worldwide sustainment.