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 (NYSE: RTX) announced a definitive agreement to acquire SEAKR Engineering, a leading supplier of advanced space electronics, enhancing its capabilities in the space sector. The acquisition, pending regulatory approvals, positions SEAKR as a wholly-owned subsidiary under Raytheon Intelligence & Space. SEAKR, with over 540 employees, boasts a 100% on-orbit success rate across 300 flight units. This strategic move aims to expand Raytheon's core space business and accelerate innovation in space technology.
Collins Aerospace, a unit of Raytheon Technologies (NYSE: RTX), introduced Lilac-UV, a new ultraviolet lighting solution designed to sanitize aircraft interiors effectively. This innovative system can disinfect surfaces in seconds and can be programmed for scheduled cleanings or used manually. Developed in collaboration with Boeing, Lilac-UV aims to enhance passenger safety and confidence in air travel. The system is adaptable, requiring minimal installation changes, and includes an intelligent dosage controller for efficient operation. It is a finalist for the 2021 Crystal Cabin Award in the Clean & Safe Air Travel category.
On August 30, 2021, Collins Aerospace, a division of Raytheon Technologies (RTX), announced its plan to acquire FlightAware, a leader in digital aviation and flight tracking solutions. The acquisition will place FlightAware under Collins' Information Management Services within its Avionics business unit. While the financial details remain undisclosed, the deal aims to enhance global connectivity and innovation in aviation efficiency. FlightAware, known for its extensive flight data analytics, will help Collins unlock new capabilities for its customers.
Collins Aerospace, a subsidiary of Raytheon Technologies (NYSE: RTX), has partnered with the International Air Transport Association (IATA) to enhance international travel safety through its Travel Pass digital health platform. This initiative allows passengers to manage and share verified health information, aiding in border re-openings. The integration of IATA's Travel Pass with Collins Aerospace's TransAction solution will enable secure exchanges of passenger data across airline systems. Over 60 airlines are already participating, signaling a significant step towards restoring confidence in air travel.
Raytheon Technologies Corporation (RTX) reported robust second quarter 2021 results, achieving sales of $15.9 billion, a 13% increase year-over-year. GAAP EPS was $0.69, with adjusted EPS at $1.03. Operating cash flow stood at $1.3 billion and free cash flow at $966 million. The company raised its 2021 sales outlook to $64.4 - $65.4 billion, increasing adjusted EPS expectations to $3.85 - $4.00. Key bookings included significant contracts in defense, contributing to a backlog of $151.8 billion.
Raytheon Technologies (NYSE: RTX) has appointed Jeff Shockey as the new senior vice president of Global Government Relations, succeeding Timothy McBride, who will leave the company later this year. Shockey, joining from Boeing, brings extensive expertise in defense and intelligence policy. He will report directly to CEO Gregory Hayes and will focus on managing the company's relationships with various policymakers. Hayes expressed gratitude towards McBride for his contributions during a pivotal transformation period for the company.
Pratt & Whitney Canada (P&WC), a Raytheon Technologies unit, announced a $163M CAD investment to advance its hybrid-electric propulsion technology as part of Canada’s green recovery plan. Supported by the Canadian and Quebec governments, this initiative aims for a 30% reduction in fuel burn and CO2 emissions compared to modern regional turboprop airliners. The project will feature a flight demonstrator based on the Dash 8-100, integrating an advanced motor and controller from Collins Aerospace. Ground testing is planned for 2022, with flight testing anticipated in 2024.
Pratt & Whitney, a unit of Raytheon Technologies (NYSE: RTX), has secured over 800 orders for GTF engines in 2021, contributing to the recovery in the aerospace sector. Major customers include Frontier Airlines, Volaris, Air France, Delta Air Lines, and AerCap. The GTF engines offer up to 20% reduced fuel burn and significantly lower emissions. AerCap has committed to powering 80 additional Airbus A320neo and A321neo aircraft with these engines. This momentum is anticipated to continue throughout the year, highlighting Pratt & Whitney's leadership in fuel-efficient technology.
Raytheon Intelligence & Space has secured a $171.6 million contract for Low-Rate Initial Production Lot I of the U.S. Navy's Next Generation Jammer Mid-Band (NGJ-MB), marking a significant shift from development to production. The NGJ-MB system enhances airborne electronic attacks by denying, disrupting, and degrading enemy technologies. Completed testing includes over 145 hours of flight and 3,100 hours of lab evaluations. The Milestone C decision further propels the program into deployment, aiming to improve the effectiveness of naval aviation.
Raytheon Technologies (NYSE: RTX) is set to release its second quarter earnings on July 27, 2021, before the market opens. A conference call will follow at 8:30 a.m. ET, and a corresponding presentation will be available for download on their website. Analysts can ask questions during the call, and it will be broadcast live online with replays available afterward. Raytheon Technologies, formed in 2020, is a leading aerospace and defense company with four primary business segments, providing advanced systems for commercial, military, and government markets.