RTX reported first‑quarter 2026 revenue of $22.1 billion, up 9% from $20.3 billion in Q1 2025, and adjusted earnings per share of $1.78, beating the consensus estimate of $1.52 by $0.26 or 17%. The 9% revenue growth reflects a 10% increase in organic sales, driven by strong demand across its Collins Aerospace, Pratt & Whitney and Raytheon segments.
Collins Aerospace added 5% in sales, Pratt & Whitney posted 11% growth, and Raytheon grew 10%. Consolidated operating margin expanded 70 basis points to 9.9% from 9.2% in the prior year, with Raytheon’s margin rising 150 basis points, Collins 10, and Pratt 70, offsetting headwinds from higher tariffs and a less favorable commercial mix.
The company’s backlog reached a record $271 billion, a 12% increase from the previous quarter, underscoring sustained demand. Management raised full‑year 2026 sales guidance to $92.5‑$93.5 billion from $92.0‑$93.0 billion and adjusted EPS guidance to $6.70‑$6.90 from $6.60‑$6.80, while reaffirming free‑cash‑flow guidance at $8.25‑$8.75 billion.
Chairman and CEO Chris Calio said, "RTX delivered a very strong start to 2026 with organic sales and adjusted operating profit growth across all three segments, driven by our continued focus on execution and delivering our backlog." He added, "Our differentiated products across RTX are well positioned to support our customers' needs and we're making significant investments to increase output and accelerate the fielding of new capabilities. Given our first quarter performance and the strength we're seeing in our defense business, we are increasing adjusted sales and EPS in our full year outlook." President and CEO Christopher Calio echoed the sentiment, noting, "We delivered very strong performance to start the year, driven by continued execution enabled by our core operating system and a consistent focus on productivity across RTX."
The earnings beat and guidance hike signal confidence in continued demand for defense and commercial aerospace products, while margin expansion demonstrates effective cost control amid tariff pressures. The record backlog and higher guidance suggest that RTX is well positioned to capture future growth, reinforcing its competitive advantage in a market benefiting from increased defense spending and a rebound in commercial air travel.
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