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Sep 30, 2023
Raytheon Q3 2023 Earnings Report
RTX reported mixed Q3 2023 results, with sales down due to the Pratt & Whitney powder metal matter but adjusted sales up, and announced a $10 billion accelerated share repurchase program.
Key Takeaways
RTX reported a decrease in sales due to the Pratt & Whitney powder metal issue, but adjusted sales increased. The company is proceeding with a $10 billion accelerated share repurchase program and increasing its capital return commitment through 2025.
Reported sales decreased by 21 percent, while adjusted sales increased by 12 percent.
GAAP EPS was a loss of $0.68, but adjusted EPS increased by 3 percent to $1.25.
Operating cash flow was $3.3 billion, and free cash flow was $2.8 billion.
The company's backlog reached $190 billion.
Revenue by Segment
Forward Guidance
RTX updates outlook for full year 2023
Positive Outlook
- Reported sales of approximately $68.5 billion, up from $67.5 - $68.5 billion
- Adjusted sales* of approximately $74.0 billion, up from $73.0 - $74.0 billion
- Adjusted EPS* of $4.98 - $5.02 from $4.95 - $5.05
- Free cash flow* of approximately $4.8 billion, up from approximately $4.3 billion
- Share repurchase spending of approximately $12.8 billion of RTX shares, up from $3.0 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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