RTX Corp - RTX STOCK NEWS

Raytheon Technologies' Next Generation Jammer Mid-Band (NGJ-MB) successfully completed its first flight test on the EA-18G Growler on August 7, 2020, at Naval Air Station Patuxent River, Maryland. This advanced electronic attack system aims to disrupt enemy communications and air-defense systems. Following over 600 hours of ground testing, this milestone advances NGJ-MB towards Milestone C and initial operational capability (IOC). The program plans further testing to assess flight performance and system integration, with a total of 28 Engineering Development Model pods scheduled for delivery.

Raytheon Technologies (NYSE: RTX) announced a $4 million grant to the Alabama School of Cyber Technology and Engineering (ASCTE) to enhance cybersecurity and engineering education. Located in Huntsville, ASCTE is Alabama's first public residential high school focused on these fields, offering free tuition and housing. The school's mission is to combat the shortage of cybersecurity talent, requiring a 145% workforce increase. The facility will open in August 2022, aiming to accommodate over 350 students by 2024, bolstered by local land donations and private sector support.

Raytheon Missiles & Defense and RAFAEL Advanced Defense Systems have formed a joint venture to establish an Iron Dome Weapon System production facility in the U.S. This facility will be the first Iron Dome production site outside of Israel and aims to support the U.S. Department of Defense and its allies. The facility will manufacture both the Iron Dome's Tamir interceptor and the U.S. derivative SkyHunter missile, enhancing the defense capabilities against aerial threats. This partnership marks over a decade of collaboration between the two companies on the Iron Dome system.

JetBlue Airways has signed a 13-year fixed-price agreement with Pratt & Whitney, a Raytheon Technologies business (NYSE: RTX), for 230 V2500 engines that will serve its A320ceo fleet. This agreement aims to provide predictable maintenance and enhance operational efficiency. JetBlue currently operates 193 Airbus A320ceo aircraft and has ordered 85 more GTF-powered Airbus A320neo family aircraft. The V2500 engine is recognized for its reliability and fuel efficiency, supported by a global network of maintenance facilities.

Raytheon Technologies (RTX) reported Q2 2020 sales of $14.1 billion, with adjusted sales of $14.3 billion. GAAP EPS from continuing operations was a loss of $2.56, reflecting $4.4 billion in significant charges mainly from COVID-19. Adjusted EPS stood at $0.40. The company generated $210 million in operating cash flow, but faced a free cash outflow of $248 million. Bookings reached $158.7 billion, with significant defense contracts, including $2.3 billion for Saudi Arabia. The defense sector showed resilience, although challenges in commercial aerospace persist.

Raytheon Missiles & Defense announced the delivery of the first AN/SPY-6(V)1 radar array for the USS Jack H. Lucas (DDG 125), marking a significant milestone for the U.S. Navy's Flight III guided-missile destroyer. This advanced radar enhances air, missile, and surface defense capabilities across seven U.S. Navy ship types. The modular 14' x 14' array, transported from Andover, Massachusetts to Mississippi, signifies the beginning of ongoing deliveries aimed at countering evolving threats such as drones and ballistic missiles. The SPY-6 system offers improved range, accuracy, and reliability over previous radars.

Raytheon Technologies (NYSE: RTX) will announce its second quarter 2020 earnings on July 28, 2020, before the market opens. A conference call is scheduled for 8:30 a.m. ET, allowing analysts to ask questions after prepared remarks. Interested parties can access the call via the company’s website, where a presentation will also be available for download. The call can be listened to by dialing (866) 219-7829. A recording of the call will be available for replay on the website until August 11, 2020.

Raytheon Missiles & Defense, a unit of Raytheon Technologies (NYSE: RTX), has secured a $2.3 billion contract from the U.S. Missile Defense Agency to produce seven AN/TPY-2 radars. These radars incorporate advanced gallium nitride (GaN) technology and are part of the Terminal High Altitude Area Defense (THAAD) system designed to counter ballistic missile threats. This contract is part of a foreign military sale to Saudi Arabia.

The mobile AN/TPY-2 radars enhance detection and tracking capabilities, vital for missile defense operations.

Raytheon Missiles & Defense, part of Raytheon Technologies (NYSE: RTX), achieved a significant milestone with the successful guided release of its StormBreaker® smart weapon from the F/A-18E/F Super Hornet. This marks the second fighter jet integration of StormBreaker, following its first implementation on the F-15E Eagle. The weapon's unique tri-mode seeker allows engagement of moving targets in adverse conditions. The program is set to reach initial operational capability later this year, further enhancing the capabilities of naval aviators.