RTX Q2 2026 Earnings Call: Complete Transcript

On Thursday, RTX (NYSE: RTX ) discussed second-quarter financial results during its earnings call.

The full transcript is provided below.

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View the webcast at Watch the full earnings call below: Summary RTX reported strong Q2 2026 results with adjusted sales of $24.7 billion, up 16% organically, and adjusted EPS of $1.89, a 21% increase year over year.

The company's backlog reached a record $289 billion, with significant bookings in both commercial ($20 billion) and defense ($20 billion) sectors.

RTX raised its full-year guidance for adjusted sales to $95-96 billion and adjusted EPS to $7.10-$7.25, driven by strong demand in defense and commercial aftermarket.

Operational improvements included a 40% increase in MRO output and a 23% reduction in turnaround time for GTF engines, contributing to a 25% decrease in AOGs.

Strategic investments include $100 million to expand GEM-T production and $100 million to increase GTF MRO capacity, supporting long-term growth.

Management highlighted bipartisan support for increased defense spending and strong international demand, particularly from NATO countries, reinforcing RTX's growth potential.

Full Transcript Livia, Operator Good day, ladies and gentlemen, and welcome to the RTX second quarter 2026 earnings conference call.

My name is Livia, and I'll be your operator for today.

As a reminder, this conference is being recorded for replay purposes.

On the call today are Chris Calio, Chairman and Chief Executive Officer, Neil Mitchell, Chief Financial Officer, and Nathan Ware, Vice President of Investigations.

This call is being webcast live on the Internet, and there is a presentation available for download from the RTX website at 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 provided in this call are subject to risks and uncertainties.

RTX SEC filings, including its Forms 8-K, 10-Q, and 10-K, provide details on important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements.

Once the call becomes open for questions, we ask that you limit your first round to one question per caller to give everyone the opportunity to participate.

To ask a question, you will need to press star 11 on your telephone.

You may ask further questions by reinserting yourself into the queue as time permits.

With that, I will turn the call over to Mr.

Calio.

Christopher Calio, Chairman & Chief Executive Officer Thank you, and good morning, everyone.

We delivered another strong quarter of performance and financial results across RTX driven by our continued focus on execution.

Starting with the top line, adjusted sales were $24.7 billion, up 16% organically, including double-digit commercial aftermarket and defense growth.

Adjusted EPS of $1.89 was up 21% year over year, driven by 18% growth in segment operating profit, and free cash flow was strong at $2.9 billion.

Across RTX, we continue to see exceptional demand for our products and services.

Our backlog stands at yet another record of $289 billion, up 22% year over year and 6% sequentially.

Raytheon booked nearly $20 billion of awards, resulting in a book-to-bill in Q2 of 2.4.

These bookings included over $5 billion of GEM-T Patriot effectors driven by international customers and our first domestic GEM-T production order in over 30 years.

Raytheon’s bookings also included over $4 billion of classified and confidential awards, as well as $1.8 billion for AMRAAM.

On the commercial side of the business, demand also remained strong.

As evidenced by our continued growth, in Q2 we received over $20 billion of OE and aftermarket orders.

Notably at Pratt, AirAsia placed an order for 150 A220 aircraft, which are exclusively powered by GTF engines, adding a new GTF operator and further expanding our installed base in a key growth region.

And Collins signed a new five-year agreement with Air New Zealand to provide MRO services for engine nacelles on their full fleet of 787 aircraft.

So overall, a very strong quarter that builds on our momentum from Q1.