RTX 4Q Sales Beats Expectations

By Denny Jacob

RTX posted better-than-expected sales in the latest quarter.

The aerospace and defense company logged net income attributable to common shareholders of $1.43 billion, or $1.05 a share, for the fourth quarter ended Dec. 31, edging up from $1.42 billion, or 96 cents a share, a year earlier. Adjusted earnings were $1.29 a share, above analysts' estimates of $1.24.

Sales rose to $19.93 billion from $18.09 billion. Analysts polled by FactSet expected $19.74 billion.

For 2024, RTX forecast sales between $78 billion and $79 billion. It also guided for adjusted earnings per-share in the range of $5.25 and $5.40, as well as free cash flow of about $5.7 billion. Analysts polled by FactSet forecast sales around $79.33 billion, adjusted earnings per-share at $5.27, and free cash flow of $5.16 billion in 2024.

RTX's backlog at the end of the quarter was $196 billion, of which $118 billion was from commercial aerospace and $78 billion was from defense.

"The financial and operational outlook of our GTF fleet management plans remain consistent from October and continues to be a top priority as we focus on driving performance across all three businesses to support our customers and deliver shareowner value," said Chief Operating Officer Chris Calio.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

January 23, 2024 07:30 ET (12:30 GMT)

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