RTX 1Q Profit Jumps as Sales Climb

By Dean Seal

RTX recorded higher sales and earnings for the first three months of the year and ended the quarter with a $202 billion backlog.

The aerospace and defense company posted a profit of $1.71 billion, or $1.28 a share, compared with $1.43 billion, or 97 cents a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings were $1.34 a share. Analysts surveyed by FactSet had been expecting $1.23 a share.

Sales rose 12% to $19.31 billion, coming in ahead of analyst projections for $18.44 billion, according to FactSet.

Chief Operating Officer Chris Calio said RTX is operating in "one of the strong demand periods" in the company's history.

RTX ended the first quarter with a backlog of $202 billion, with $125 billion of that coming from its commercial aerospace business and the other $75 billion from its defense unit.

The Arlington, Va.-based company is sticking by its guidance for adjusted earnings of $5.25 to $5.40 a share this year on $78 billion to $79 billion in sales.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

April 23, 2024 07:27 ET (11:27 GMT)

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