RTX Corporation reports aerospace and defense developments across Collins Aerospace, Pratt & Whitney and Raytheon. News commonly covers Collins avionics, commercial aviation radars, satellite and secure communications components, and multi-domain security solutions; Pratt & Whitney commercial and military engine production, including GTF, F135 and F100 programs; and Raytheon defense systems such as SeaRAM, SharpSight radars, missile-warning sensors, air and missile defense, advanced sensors and space-based systems.
Company updates also include earnings releases, backlog and cash-flow commentary, dividend actions, facility investments and production-capacity expansions tied to commercial aerospace and defense demand. Contract announcements and customer program awards provide recurring detail on RTX's role as a supplier to military, civil aviation and allied defense markets.
Raytheon Technologies Corporation (NYSE: RTX) announced a quarterly cash dividend of 55 cents per share, payable on March 23, 2023, to shareholders on record by February 24, 2023. The company has a long history of paying dividends, consistently since 1936. In 2022, Raytheon generated $67 billion in sales and is recognized as the largest aerospace and defense company globally.
Raytheon Technologies Corporation (RTX) reported Q4 2022 sales of $18.1 billion, with GAAP EPS of $0.96 and adjusted EPS of $1.27. The company achieved $130 million in gross cost synergies and ended the year with a backlog of $175 billion, including $69 billion in defense contracts. For 2023, RTX projects sales between $72.0 - $73.0 billion and adjusted EPS between $4.90 - $5.05, along with expected free cash flow of $4.8 billion. The firm plans to repurchase $3.0 billion in shares and is focused on capital investments to enhance productivity while returning $20 billion to shareholders by early 2024.
BENGALURU, India, Jan. 19, 2023 /PRNewswire/ -- Raytheon Technologies' Pratt & Whitney has inaugurated its new India Engineering Center (IEC) in Bengaluru, co-located with the existing India Capabilities Center. The IEC will employ over 500 people within four years and enhance Raytheon Technologies' presence in India, which exceeds 5,000 employees. The facility focuses on advanced aerospace technology and supports various products within Pratt & Whitney's commercial engine portfolio. Notably, Pratt & Whitney has contributed over $1 billion in savings to Indian airlines through its GTF engines.
Raytheon Technologies (NYSE: RTX) has appointed Leanne G. Caret to its board of directors. Caret, a prominent figure in the aerospace and defense sector, previously held senior roles at Boeing, including executive vice president and CEO of Boeing Defense, Space & Security. CEO Greg Hayes highlighted Caret's leadership skills and customer-focused approach as significant benefits for Raytheon and its shareholders. Caret's extensive experience includes various leadership positions within Boeing, and she holds degrees in business administration from Kansas State University and Wichita State University. Her appointment aims to drive innovation and strengthen leadership within Raytheon Technologies.
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The law firm Federman & Sherwood has launched an investigation into Rackspace Technology (RTX) following a significant data breach. The incident, reported on December 6, 2022, involved unauthorized access to customer data, including names, emails, and contacts, between November 2022 and December 15, 2022. Rackspace has since taken measures to secure its network and investigate the breach. Customers affected by this incident are encouraged to reach out to the firm for more information regarding potential litigation.
Raytheon Technologies (NYSE: RTX) will announce its fourth quarter 2022 earnings on January 24, 2023, before the stock market opens. A conference call is scheduled for 8:30 a.m. ET to discuss the results, which will be accessible via live webcast on the company's website. The presentation materials will be available for download before the call. Raytheon Technologies specializes in aerospace and defense, delivering advanced systems and services for commercial and military clients globally.
Raytheon Technologies (NYSE: RTX) successfully showcased its FlexLink technology during the U.S. Army's Project Convergence exercise, aiming to enhance command and control systems. FlexLink, an open-system radio prototype installed on UH-60M helicopters, achieved a communication range exceeding 200 nautical miles. This innovation integrates multiple air and ground platforms, bridging various joint service networks with different security levels. The demonstration supports the Army's contribution to the Joint All-Domain Command and Control initiative, validating the importance of resilient communications in contested environments.
Raytheon Technologies' Board has authorized a $6 billion stock repurchase program, replacing the previous December 2021 authorization. This initiative allows the company to buy back shares at its discretion, depending on market conditions. The program aims to enhance shareholder value amid its ongoing operations in aerospace and defense. As a forward-looking statement, the company indicates that share repurchases may vary due to various risks and uncertainties.
Collins Aerospace, part of Raytheon Technologies (NYSE: RTX), has secured a contract to design and develop a next-generation spacesuit for NASA's International Space Station. This contract marks Collins' first task order under NASA's xEVAS program, awarded in May 2022. The new suit boasts over 18,000 parts, providing essential life support systems for astronauts, and features an open architecture design for adaptability. It aims to enhance astronaut performance with improved comfort and mobility while continuing Collins' legacy in space exploration.