Core Insights - Raytheon has been awarded two contracts under the Mentor-Protégé Agreement to mentor Anacapa Micro Products, Inc. and Nara Logics, Inc. in operational AI development for Department of Defense platforms [1][9] - The collaboration aims to enhance decision-making capabilities for servicemen and women by leveraging commercial and defense technologies [6][8] - Raytheon, as part of RTX, reported sales of $69 billion in 2023 and has over 185,000 global employees, focusing on advanced technology solutions in defense and aerospace [3][7] Company Overview - Raytheon is a leading provider of defense solutions, with over 100 years of experience in developing technologies for integrated air and missile defense, smart weapons, and advanced sensors [7] - The company is headquartered in Arlington, Virginia, and operates through industry-leading businesses such as Collins Aerospace and Pratt & Whitney [3] Program Details - The Mentor-Protégé Program, established in 1990, is the oldest continuously operating federal mentor-protégé program, with Raytheon participating since 1991 [4][8] - This program is part of Raytheon's strategy to enhance supplier diversity and small business engagement, aiming to integrate commercial innovations into defense capabilities [8] Leadership Perspectives - Ken Marks, CEO of Anacapa Micro Products, expressed pride in partnering with Raytheon to support next-generation AI development for military applications [2] - Jana Eggers, CEO of Nara Logics, highlighted the importance of the Mentor-Protégé relationship in enhancing technical capabilities for defense and intelligence platforms [10]

Core Insights - Raytheon (NYSE: RTX) stock has reached an all-time high of $113.47, with significant price increases benefiting certain politicians, notably Markwayne Mullin, a member of the U.S. Armed Services Committee [1][10][17] - The stock has risen over 60% since Mullin's purchase on October 3, 2023, when the price was $70.58 [10][15] Stock Performance - Raytheon stock has increased by 8% on the day of reporting [2] - The stock has advanced 12.67% monthly and gained 33.87% year-to-date [12] Political Involvement - Markwayne Mullin's investment in Raytheon is part of a broader trend of politicians investing in defense stocks, coinciding with significant military-focused foreign aid legislation [11] - Mullin is also involved in investments in other companies, including Badger Meter (NYSE: BMI), Valero Energy (NYSE: VLO), and Meta Platforms (NASDAQ: META) [7]

Sales Performance - Net sales for the quarter ended June 30, 2024, increased by $1.9 billion to $19.721 billion compared to $18.315 billion in the same quarter of 2023, driven by higher sales at Pratt & Whitney, Collins, and Raytheon[168]. - For the six months ended June 30, 2024, net sales rose by $4.0 billion to $39.026 billion from $35.529 billion in the same period of 2023, primarily due to increases at Pratt & Whitney and Collins[168]. - For the quarter ended June 30, 2024, the consolidated net sales were $39.026 billion, an increase from $35.529 billion in the same quarter of 2023, representing a growth of approximately 7%[180]. - The consolidated net sales for the six months ended June 30, 2024, were $26.198 billion, compared to $24.198 billion in the same period of 2023, reflecting a growth of approximately 8%[182]. - The total business segment sales for the quarter ended June 30, 2024, were $39.026 billion, compared to $35.529 billion in the same quarter of 2023, indicating a growth of approximately 10%[180]. Product Sales and Costs - Net products sales increased by $1.2 billion in the quarter ended June 30, 2024, with Pratt & Whitney contributing $0.7 billion, Collins $0.4 billion, and Raytheon $0.1 billion[169]. - Net products cost of sales increased by $1.5 billion in the quarter ended June 30, 2024, driven by higher costs at Pratt & Whitney, Raytheon, and Collins[175]. Government Sales - The U.S. government accounted for $16.179 billion, or 41.5%, of total net sales in the six months ended June 30, 2024, compared to $15.515 billion, or 43.7%, in the same period of 2023[172]. Research and Development - Research and development expenses remained consistent year-over-year, with a $0.1 billion increase in customer-funded R&D for the six months ended June 30, 2024, primarily due to higher expenses at Collins and Pratt & Whitney[177]. Legal and Other Expenses - The decrease in Other income (expense), net for the quarter ended June 30, 2024, was $0.9 billion, primarily due to a charge related to the Expected Resolution of Certain Legal Matters[179]. - The company reported a charge of $0.9 billion related to legal matters, impacting the overall financial performance for the quarter ended June 30, 2024[179]. Cash Flow and Debt - Net cash flows provided by operating activities for the six months ended June 30, 2024, were $3,075 million, a significant increase from $(144) million in the same period of 2023[303]. - Net cash flows used in investing activities for the six months ended June 30, 2024, were $(40) million, compared to $(1,202) million in the same period of 2023[305]. - Net cash flows used in financing activities for the six months ended June 30, 2024, were $(3,591) million, a decrease from $468 million in the same period of 2023[306]. - Total debt as of June 30, 2024, was $42,151 million, down from $43,827 million on December 31, 2023[300]. - Total equity as of June 30, 2024, was $60,650 million, compared to $61,410 million on December 31, 2023[300]. - The total debt to total capitalization ratio improved to 41% as of June 30, 2024, from 42% at the end of 2023[300]. - The company made repayments of long-term debt totaling $1,700 million during the six months ended June 30, 2024[302]. Dividends - The company declared a dividend of $0.63 per share on June 3, 2024, payable on September 5, 2024[306]. Geopolitical Risks - The defense operations are influenced by U.S. Department of Defense budget levels and geopolitical risks, which may impact sales and operations[160]. - The company continues to monitor potential impacts from geopolitical tensions, particularly in the Middle East, but has reported minimal effects on operations to date[164]. Segment Performance - Collins Aerospace reported sales of $9.860 billion for the quarter ended June 30, 2024, compared to $9.053 billion in the same quarter of 2023, reflecting an increase of approximately 9%[180]. - Pratt & Whitney's sales for the quarter ended June 30, 2024, were $7.806 billion, up from $6.251 billion in the same quarter of 2023, marking an increase of about 25%[180]. - The total defense bookings for Collins in the quarter ended June 30, 2024, included $1.9 billion for the U.S. Air Force's next-generation Survivable Airborne Operations Center[287]. Other Operating Profit - The increase in Other operating profit for the six months ended June 30, 2024, was $0.2 billion, reflecting the absence of a $181 million charge related to a customer insolvency in the prior year[290].

SOURCE RTX "We're proud to extend our collaboration with Pratt & Whitney on today's most advanced technologies," said Paulo Monginho, chief executive officer at OGMA. "By adding the GTF engine to our portfolio, we are growing our capabilities to serve the needs of operators in Europe and around the world." Portugal shop becomes the 18th active facility in growing GTF MRO network LONDON, July 25, 2024 /PRNewswire/ -- Farnborough Air Show -- Pratt & Whitney, an RTX (NYSE: RTX) business, and OGMA Indústria Aer ...

Key Takeaways RTX, which consists of defense giant Raytheon along with aerospace manufacturers Pratt & Whitney and Collins Aerospace, reported an 8% year-over-year increase in sales to $19.72 billion. RTX said that it was lifting its projections for its full-year performance, with adjusted sales increasing to a range of $78.75 billion to $79.5 billion from $78 billion to $79 billion. The company now also projects full-year adjusted earnings per share (EPS) from $5.35 to $5.45, up from the previous range of ...

RTX Corporation's (RTX) second-quarter 2024 adjusted earnings per share (EPS) of $1.41 beat the Zacks Consensus Estimate of $1.29 by 9.3%. The bottom line also improved 9.3% from the year-ago quarter's level of $1.29. Including one-time items, the company reported GAAP earnings of 8 cents per share compared with 90 cents in the prior-year quarter. The year-over-year deterioration can be attributed to higher costs and expenses, along with higher other expenses, net. Operational Performance RTX's second-quart ...

RTX Corporation (NYSE:RTX) Q2 2024 Earnings Conference Call July 25, 2024 8:00 AM ET Company Participants Chris Calio - President and CEO Neil Mitchill - CFO Nathan Ware - VP of IR Conference Call Participants Peter Arment - Baird Robert Stallard - Vertical Research Myles Walton - Wolfe Research Sheila Kahyaoglu - Jefferies Doug Harned - Bernstein Samantha Stiroh - Bank of America Seth Seifman - JPMorgan Kristine Liwag - Morgan Stanley Cai von Rumohr - TD Cowen Jason Gursky - Citi Matt Akers - Wells Fargo D ...

RTX (RTX) reported $19.72 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 7.7%. EPS of $1.41 for the same period compares to $1.29 a year ago. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Here is how RTX performed in the just reported quarter in terms of the metrics most ...

Raytheon • Higher volume on land and air defense systems programs • 1.13 rolling 12-month book-to-bill • Premier small engine franchise and #1 or #2 provider in key segments 11 1 Net significant and/or non-recurring items represent significant nonoperational items and/or significant operational items that may occur at irregular intervals. largest aircraft order in Philippine aviation history. This is in addition to the airline's 15 GTFpowered aircraft ordered in February. ▲19% Organic sales* HIGHLIGHTS ▲19% ...

This quarterly report represents an earnings surprise of 9.30%. A quarter ago, it was expected that this an aerospace and defense company would post earnings of $1.23 per share when it actually produced earnings of $1.34, delivering a surprise of 8.94%. RTX, which belongs to the Zacks Aerospace - Defense industry, posted revenues of $19.72 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.15%. This compares to year-ago revenues of $18.32 billion. The company has topped co ...