Summary by Moomoo AI
RTX Corporation reported strong financial results for Q3 2024, with net sales increasing 49% to $20.1 billion and net income reaching $1.5 billion, compared to a net loss of $933 million in Q3 2023. Operating profit improved significantly to $2.0 billion, driven by robust performance across all segments and the absence of prior year's Powder Metal Matter charges.Collins Aerospace saw 7% sales growth to $7.1 billion with 15% operating margins, while Pratt & Whitney's revenue rebounded to $7.2 billion with 7.7% operating margins. Raytheon segment maintained stable performance with $6.4 billion in sales and 10.1% operating margins. Defense bookings were particularly strong at $25 billion for the quarter, contributing to a total backlog of $221 billion.The company continued its strategic initiatives with the completion of several legal settlements and made progress on supply chain improvements. Free cash flow remained strong at $5.6 billion year-to-date, enabling continued investment in growth while returning value to shareholders through dividends and share repurchases. Management maintained focus on operational excellence and innovation across commercial aerospace and defense portfolios.
