RTX Reports Record $289 Billion Order Backlog
Raytheon Technologies (NYSE: RTX) reported a record backlog of $289 billion in its second-quarter results, reflecting strong demand across both defense and commercial aerospace sectors. The company's revenue increased by 14% year-over-year to $24.7 billion, with non-GAAP adjusted earnings per share rising 21% to $1.89. RTX attributed the growth to a tense geopolitical environment and increasing military spending. Approximately 60% of the backlog is tied to commercial aerospace orders, while defense accounts for the remaining 40%. The company recently secured a significant seven-year contract worth $22.9 billion with the U.S. military for Tomahawk cruise missiles. RTX also updated its full-year revenue guidance to between $95 billion and $96 billion. Despite strong fundamentals, analysts at Motley Fool Stock Advisor did not include RTX in their latest list of top 10 stocks for long-term growth.
Topics: aerospace backlog defense revenue growth