RTX Corp Stock Price, News & Analysis

Raytheon Technologies has secured a $375 million contract from the FAA to enhance the Wide-Area Augmentation System (WAAS) over the next ten years. This contract includes immediate task orders valued at $215 million for technical updates and Dual Frequency Operation (DFO) upgrades that promise safer air travel. The modernization aims to improve system performance during ionospheric disturbances, enhancing reliability for aviation and other sectors reliant on GPS corrections. Work will be based in Fullerton, California.

Raytheon Technologies (NYSE: RTX) has revised its full-year 2022 free cash flow expectation to approximately $4.0 billion, down from an estimated $6.0 billion. The adjustment is due to new legislation requiring capitalization of Research and Experimentation for tax purposes. The company reaffirms its sales outlook of $67.75 - $68.75 billion and projects adjusted earnings per share of $4.60 - $4.80, along with a share repurchase plan of at least $2.5 billion.

Raytheon Technologies (NYSE: RTX) Chairman and CEO Greg Hayes will speak at the Morgan Stanley 10th Annual Laguna Conference on September 14 at 11:45 a.m. Eastern Time. The live presentation can be viewed at www.rtx.com and will be archived for later access. Established in 2020, Raytheon Technologies combines advanced aerospace and defense systems with a focus on innovation in areas such as cybersecurity and hypersonics.

Raytheon Missiles & Defense has secured a $972 million contract for upgraded AMRAAM missiles from the U.S. Air Force. This marks the first contract for the production of the AIM-120D3 and AIM-120C8 missiles, developed under the Form, Fit, Function Refresh (F3R) program. The contract not only supplies missiles to the U.S. military but also extends production to 19 allied countries. The upgraded missiles provide enhanced capabilities against advanced threats, with successful live-fire tests already conducted in June 2022.

Raytheon Missiles & Defense has secured a $182 million contract for the National Advanced Surface-to-Air Missile System (NASAMS) to support Ukraine in defending against air threats. This adaptable mid-range air defense system is developed in collaboration with Norway’s Kongsberg Defence & Aerospace. Raytheon aims to quickly deliver these critical capabilities to Ukraine, enhancing defense against cruise missiles, aircraft, and UAVs. The NASAMS system is already in use by a dozen nations globally.

Raytheon Technologies (NYSE: RTX) has invested in VerdeGo Aero to enhance hybrid-electric propulsion technologies for advanced air mobility. As the lead investor in VerdeGo's $12 million Series A funding round, RTX Ventures aims to innovate in sustainable aviation, supporting the development of powerplants converting fuel into electric power. This collaboration with Pratt & Whitney is expected to expand VerdeGo Aero's hybrid powertrain portfolio, crucial for achieving net-zero CO₂ emissions by 2050.

Raytheon Technologies Corporation (RTX) reported Q2 2022 sales of $16.3 billion, reflecting a 3% increase year-over-year. GAAP EPS from continuing operations rose 28% to $0.88, while adjusted EPS increased 13% to $1.16. Operating cash flow was $1.3 billion and free cash flow reached $807 million. The company confirmed a full-year sales outlook of $67.75 - $68.75 billion and adjusted EPS of $4.60 - $4.80. The backlog totaled $161 billion, with strong defense bookings contributing significantly.

Raytheon Technologies (NYSE: RTX) has been awarded two projects by the U.S. Department of Energy aimed at exploring hydrogen and ammonia as zero-carbon fuels for electricity generation. The first project will validate the use of hydrogen in Mitsubishi Power Aero's FT4000® gas turbine. The second project, in collaboration with the University of Connecticut, focuses on ammonia as a sustainable fuel for turbines, highlighting its advantages in storage and transportation. These initiatives reflect Raytheon's commitment to advancing sustainable energy technologies.

Raytheon Missiles & Defense and Northrop Grumman successfully conducted their second flight test of the Hypersonic Air-breathing Weapon Concept (HAWC) for the U.S. Air Force and DARPA on July 18, 2022. The test validated tactical range capabilities and demonstrated progress in scramjet technology, essential for hypersonic weapons. This advancement allows for faster target acquisition, potentially evading traditional defense systems. The partnership aims to deliver next-gen tactical missile systems, further enhancing the U.S.'s weapon capabilities in hypersonics.