TLDR
- RTX posted Q1 adjusted EPS of $1.78, beating the $1.51 consensus by $0.27
- Revenue hit $22.1 billion, up 9% year-over-year, topping estimates
- Free cash flow jumped 65% year-over-year to $1.3 billion
- Full-year adjusted EPS guidance raised to $6.70–$6.90
- Raytheon sales grew 10% to $6.9 billion on strong land and air defense demand
RTX Corporation beat Wall Street’s earnings expectations in Q1 2026, sending the stock up more than 3% in pre-market trading.
$RTX Q1’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $22.1B (Est. $21.44B) 🟢; +9% YoY
🔹 Adj. EPS: $1.78 (Est. $1.51) 🟢; +21% YoY
🔹 Organic Sales Growth: +10%
🔹 Backlog: $271BFY Guide:
🔹 Revenue: $92.5B-$93.5B (Est. $93.5B) 🟡
🔹 Adj. EPS: $6.70-$6.90 (Est. $6.84) 🟡
🔹 Organic… pic.twitter.com/EEVcjMGC6q— Wall St Engine (@wallstengine) April 21, 2026
The company posted adjusted EPS of $1.78, clearing the analyst consensus of $1.51 by $0.27. Revenue came in at $22.1 billion, a 9% rise from the same period last year and above the $21.44 billion estimate.
Adjusted net income rose 22% to $2.4 billion. Free cash flow hit $1.3 billion for the quarter, up 65% year-over-year — a number that tends to get attention.
CEO Chris Calio credited execution and backlog delivery. “RTX delivered a very strong start to 2026 with organic sales and adjusted operating profit growth across all three segments,” he said.
All three business segments — Collins Aerospace, Pratt & Whitney, and Raytheon — posted growth.
Defense Demand Drives Raytheon
Raytheon sales grew 10% to $6.95 billion in Q1, driven by higher volume on land and air defense systems. The Pentagon has been pushing to rebuild weapons inventories, which have been drawn down by operations tied to the Russia-Ukraine conflict and Israel’s military campaign in Gaza.
In April, RTX locked in a $3.7 billion contract to supply Patriot GEM-T interceptor missiles to Ukraine. That kind of deal underscores the demand environment Raytheon is operating in.
The U.S. has spent billions on artillery, ammunition, and anti-tank systems since Russia’s 2022 invasion of Ukraine. Defense contractors are in position to benefit as the Pentagon moves to replenish its stockpiles.
Commercial Aftermarket Picks Up the Slack
Pratt & Whitney revenue climbed 11% to $8.2 billion, with commercial aftermarket sales surging 19%. Airlines are holding onto older aircraft longer due to delivery delays and supply-chain issues, which means more maintenance work — and more revenue for P&W.
That comes despite ongoing tension with Airbus, which alleged in early 2026 that Pratt & Whitney over-promised on engine shipments while diverting engines to repair shops. Airbus is seeking potential damages, according to Reuters reporting from March.
Collins Aerospace posted a 5% sales increase to $7.6 billion, with commercial OE up 15% and commercial aftermarket up 7%.
RTX lifted its full-year 2026 adjusted EPS guidance to $6.70–$6.90 from the prior $6.60–$6.80. The midpoint of $6.80 falls slightly below the analyst consensus of $6.84.
Full-year revenue guidance was raised to $92.5–$93.5 billion from $92.0–$93.0 billion. The midpoint of $93.0 billion sits just below the $93.5 billion consensus.
RTX stock was up 3.35% in pre-market trading following the results.
🚨 Our April Stock Picks Are Live!
A new month means new opportunities. Our analysts have just released their top stock picks for April, highlighting companies with strong momentum that rank highly on our KO Score algorithm. We’re also now sharing trade ideas for both long-term and short-term investors, giving you more ways to spot potential opportunities in the market.
Sign up to Knockout Stocks today and get 50% off to unlock the full list and see which stocks made the cut.
Use coupon code Special50 for your exclusive discount!
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
