Q3 2024 RTX Corp Earnings Call Transcript
Key Points
- RTX Corp (RTX) reported strong third-quarter performance with 8% organic sales growth driven by robust demand in commercial aftermarket and defense sectors.
- The company achieved a 100 basis points expansion in segment margin and generated $2 billion in free cash flow.
- RTX Corp (RTX) raised its full-year outlook for adjusted sales and EPS, reflecting confidence in continued strong performance.
- The company completed an accelerated share repurchase program, returning $10.3 billion to shareholders, and is on track to meet its capital return commitment.
- RTX Corp (RTX) reported a record backlog of $221 billion, with significant new orders in defense and commercial sectors, indicating strong future growth potential.
- Collins Aerospace experienced an 8% decline in commercial OE sales due to lower narrowbody volume and unfavorable mix, impacting overall performance.
- The company faces ongoing challenges with the GTF engine program, requiring careful management of spares and production to meet delivery targets.
- RTX Corp (RTX) is dealing with supply chain and inflation challenges, which could impact future production and cost structures.
- The company has adjusted its full-year outlook for Collins Aerospace, reflecting lower commercial OE volume and associated absorption impacts.
- RTX Corp (RTX) is navigating productivity challenges at Raytheon, with some programs experiencing headwinds that could affect future margins.
Good day, ladies and gentlemen, and welcome to the RTX third-quarter 2024 earnings conference call. My name is Lateef, and I will be your operator for today.
As a reminder, this conference is being recorded for replay purposes.
On the call today are Chris Calio, President and Chief Executive Officer; Neil Mitchill, Chief Financial Officer; and Nathan Ware, Vice President of Investor Relations. This call is being webcast live on the Internet, and there is a presentation available for download from RTX's website at www.rtx.com.
Please note, except where otherwise noted, the company will speak to results from continuing operations, excluding acquisition accounting adjustments and net nonrecurring and/or significant items often referred to by management as other significant items.
The company also reminds listeners that the earnings and cash flow expectations and any other forward-looking statements in this call are subject to risks and uncertainties. RTX SEC filings, including its Forms 8-K, 10-Q, and 10-K,
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