RTX Reports Strong Q2 Earnings with Record Backlog and Raised Guidance
Raytheon Technologies (RTX) reported strong second-quarter results for fiscal year 2026, driven by robust performance across its defense and commercial sectors. The company achieved $24.7 billion in adjusted sales, reflecting a 16% organic growth fueled largely by double-digit increases in the commercial aftermarket and defense channels. Adjusted earnings per share (EPS) rose to $1.89, up 21% year-over-year due to higher segment operating profits. The company also reported free cash flow of $2.9 billion for Q2, supported by strong engine deliveries at Pratt & Whitney and international advanced payments from Raytheon. Total backlog reached a record high of $289 billion, growing both 22% year-over-year and 6% sequentially. RTX raised its full-year sales guidance to between $95 billion and $96 billion, up from the previous range of $92.5 billion to $93.5 billion. Raytheon's performance was particularly notable with bookings reaching $19.9 billion for Q2, resulting in a book-to-bill ratio of 2.42 due largely to large defense contracts such as GEM-T Patriot effector orders and classified awards.
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