Analyst Consensus ?
ConsensusBuy26 ratings
Bullish1765.4%
Neutral934.6%
Bearish00.0%
RTX Corporation · RTX · FY2024 Q4 · Calendar Q1 2025
RTX: Strong demand, but GTF execution remains central
The supplied analysis supports a constructive but conditional view: resilient commercial-aerospace and defense demand, including a record defense backlog, supports continued growth, while GTF execution, powder-metal costs and supply-chain delivery are the main constraints.
Reported Before market openNYSEIndustrials
$258.92B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.35
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $20.57B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+2.6%
Event window
SPY move
+0.9%
Same window
Abnormal move
+1.8%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
-0.8%
Up to 20 sessions
RTXSPY benchmark
Ask FN2 about RTX FY2024 Q4
Transcript, numbers and history already loaded
What drove RTX's +2.6% move after FY2024 Q4 earnings?What changed in RTX's guidance and outlook in FY2024 Q4?Give me the bull and bear case for RTX after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, guidance moved from raised to maintained. The current analysis emphasizes a $93 billion defense backlog, a 2025 sales and EPS outlook, higher planned capital spending, and continued GTF aftermarket and certification execution.
Guidance delta
Maintained: management's 2025 outlook targets $83-$84 billion of sales, $6-$6.15 of EPS and $7-$7.5 billion of free cash flow.
Key takeaways
- Management described strong 2024 performance and set a moderate-growth 2025 outlook.
- Defense backlog reached a record $93 billion, with international sales at 44% of the mix.
- GTF aftermarket output grew more than 30%; certification, powder-metal costs and supply-chain execution remain key watchpoints.
- Capacity expansion, digital and AI initiatives, and capital returns remain part of the plan.
Management priorities
- Complete GTF Advantage certification in the first half of 2025 and begin deliveries in the second half.
- Invest $2.5-$2.7 billion in capital spending to expand capacity and accelerate automation.
- Deploy additional AI use cases across product testing, inspections and RFP responses.
- Continue defense production expansion and the stated capital-return program.
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Analyst 52W Price Targets
$192.11Current
$85Low
$177.51Average
$250High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 20, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Oct 15, 2026 |
| Bernstein | Market Perform | Market Perform | Maintain | Oct 15, 2026 |
| TD Cowen | Buy | Buy | Maintain | Oct 9, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 24, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 24, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jul 24, 2026 |
| Jefferies | Buy | Hold | Upgrade | Jun 4, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Apr 22, 2026 |
| Citigroup | Buy | Buy | Maintain | Apr 2, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jan 28, 2026 |
| B of A Securities | Buy | Buy | Maintain | Oct 27, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Oct 22, 2025 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 29, 2025 |
| Baird | Outperform | Neutral | Upgrade | Mar 19, 2025 |
| Deutsche Bank | Buy | Hold | Upgrade | Jan 2, 2025 |
| Alembic Global | Overweight | Neutral | Upgrade | Jul 30, 2024 |
| Redburn Atlantic | Neutral | Buy | Downgrade | Nov 15, 2023 |
| DZ Bank | Hold | Buy | Downgrade | Sep 14, 2023 |
| Argus Research | Hold | Buy | Downgrade | Jul 31, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Apr 26, 2023 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Apr 12, 2023 |
| Vertical Research | Buy | Hold | Upgrade | Jul 10, 2020 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jun 2, 2020 |
| CFRA | Buy | Buy | Maintain | May 7, 2020 |
| Drexel Hamilton | Buy | Buy | Maintain | Mar 19, 2012 |
| Sterne Agee | Buy | Buy | Maintain | Mar 11, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $192.11. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| RBC Capital | Ken Herbert | $235 | $186.77 | +22.3% | Oct 15, 2026 |
| Bernstein | Analyst unavailable | $214 | $186.47 | +11.4% | Oct 15, 2026 |
| Deutsche Bank | Scott Deuschle | $208 | $186.66 | +8.3% | Oct 13, 2026 |
| Barclays | Analyst unavailable | $223 | $184.32 | +16.1% | Oct 8, 2026 |
| Bernstein | Douglas Harned | $223 | $190.99 | +16.1% | Sep 23, 2026 |
| Bernstein | Douglas Harned | $232 | $215.22 | +20.8% | Aug 3, 2026 |
| Argus Research | Analyst unavailable | $245 | $211.9 | +27.5% | Jul 30, 2026 |
| Deutsche Bank | Analyst unavailable | $238 | $217.52 | +23.9% | Jul 27, 2026 |
| Jefferies | Analyst unavailable | $250 | $212.79 | +30.1% | Jul 26, 2026 |
| RBC Capital | Analyst unavailable | $250 | $213.55 | +30.1% | Jul 24, 2026 |
| Susquehanna | Charles Minervino | $245 | $213.24 | +27.5% | Jul 24, 2026 |
| Robert W. Baird | Analyst unavailable | $240 | $209.16 | +24.9% | Jul 24, 2026 |
| Morgan Stanley | Kristine Liwag | $240 | $209.16 | +24.9% | Jul 24, 2026 |
| UBS | Gavin Parsons | $215 | $209.16 | +11.9% | Jul 24, 2026 |
| Wells Fargo | Analyst unavailable | $230 | $209.16 | +19.7% | Jul 24, 2026 |
| Jefferies | Sheila Kahyaoglu | $220 | $172.55 | +14.5% | Jun 4, 2026 |
| Deutsche Bank | Scott Deuschle | $240 | $203.77 | +24.9% | Mar 5, 2026 |
| Bernstein | Analyst unavailable | $204 | $201.38 | +6.2% | Jan 29, 2026 |
| Jefferies | Sheila Kahyaoglu | $225 | $199.46 | +17.1% | Jan 28, 2026 |
| RBC Capital | Analyst unavailable | $230 | $200.88 | +19.7% | Jan 28, 2026 |
| Robert W. Baird | Peter Arment | $225 | $201.28 | +17.1% | Jan 28, 2026 |
| UBS | Gavin Parsons | $208 | $201.28 | +8.3% | Jan 28, 2026 |
| Morgan Stanley | Analyst unavailable | $235 | $201.28 | +22.3% | Jan 28, 2026 |
| UBS | Analyst unavailable | $225 | $201.28 | +17.1% | Jan 27, 2026 |
| Vertical Research | Robert Stallard | $227 | $201.28 | +18.2% | Jan 27, 2026 |
| Susquehanna | Charles Minervino | $230 | $198.13 | +19.7% | Jan 15, 2026 |
| Bernstein | Analyst unavailable | $189 | $188.61 | -1.6% | Jan 6, 2026 |
| UBS | Analyst unavailable | $199 | $187.25 | +3.6% | Jan 5, 2026 |
| Jefferies | Analyst unavailable | $190 | $172.35 | -1.1% | Nov 25, 2025 |
| UBS | Gavin Parsons | $202 | $173.04 | +5.1% | Oct 22, 2025 |
| Morgan Stanley | Analyst unavailable | $215 | $173.04 | +11.9% | Oct 22, 2025 |
| Robert W. Baird | Peter Arment | $203 | $178 | +5.7% | Oct 22, 2025 |
| Susquehanna | Analyst unavailable | $205 | $173.04 | +6.7% | Oct 22, 2025 |
| Goldman Sachs | Noah Poponak | $168 | $173.04 | -12.6% | Oct 22, 2025 |
| Deutsche Bank | Analyst unavailable | $195 | $169.27 | +1.5% | Oct 8, 2025 |
| Bernstein | Douglas Harned | $181 | $166.58 | -5.8% | Oct 6, 2025 |
| Bernstein | Douglas Harned | $157 | $152.61 | -18.3% | Sep 10, 2025 |
| Bernstein | Douglas Harned | $154 | $146.87 | -19.8% | Jul 11, 2025 |
| Deutsche Bank | Scott Deuschle | $140 | $116.01 | -27.1% | Jan 2, 2025 |
| RBC Capital | Ken Herbert | $140 | $117.61 | -27.1% | Dec 19, 2024 |
| Deutsche Bank | Scott Deuschle | $131 | $125.43 | -31.8% | Oct 29, 2024 |
| Barclays | David Strauss | $130 | $125.43 | -32.3% | Oct 29, 2024 |
| Jefferies | Sheila Kahyaoglu | $120 | $127.21 | -37.5% | Oct 24, 2024 |
| Morgan Stanley | Kristine Liwag | $130 | $125.53 | -32.3% | Oct 23, 2024 |
| Susquehanna | Christopher Rolland | $150 | $125.53 | -21.9% | Oct 23, 2024 |
| RBC Capital | Ken Herbert | $130 | $125.53 | -32.3% | Oct 23, 2024 |
| UBS | Gavin Parsons | $133 | $125.53 | -30.8% | Oct 23, 2024 |
| Goldman Sachs | Noah Poponak | $113 | $125.53 | -41.2% | Oct 23, 2024 |
| Bank of America Securities | Ronald Epstein | $145 | $125.53 | -24.5% | Oct 23, 2024 |
| Deutsche Bank | Scott Deuschle | $129 | $123.67 | -32.9% | Oct 3, 2024 |
| Bank of America Securities | Ronald Epstein | $140 | $117.49 | -27.1% | Jul 31, 2024 |
| US Capital Advisors | Pete Skibitski | $134 | $116.88 | -30.2% | Jul 30, 2024 |
| RBC Capital | Ken Herbert | $115 | $114.98 | -40.1% | Jul 26, 2024 |
| RBC Capital | Ken Herbert | $102 | $104.99 | -46.9% | Jul 18, 2024 |
| Barclays | David Strauss | $100 | $102.44 | -47.9% | Apr 30, 2024 |
| Wells Fargo | Matthew Akers | $119 | $101.02 | -38.1% | Apr 25, 2024 |
| RBC Capital | Ken Herbert | $96 | $100.71 | -50.0% | Apr 19, 2024 |
| Jefferies | Sheila Kahyaoglu | $105 | $100.78 | -45.3% | Apr 11, 2024 |
| Wells Fargo | Matthew Akers | $120 | $97.53 | -37.5% | Apr 1, 2024 |
| RBC Capital | Ken Herbert | $82 | $75.1 | -57.3% | Sep 12, 2023 |
| Goldman Sachs | Analyst unavailable | $105 | $98.18 | -45.3% | Jan 13, 2023 |
| Credit Suisse | Analyst unavailable | $103 | $99.87 | -46.4% | Jan 12, 2023 |
| J.P. Morgan | Analyst unavailable | $107 | $98.78 | -44.3% | Dec 12, 2022 |
| Citigroup | Analyst unavailable | $104 | $99.63 | -45.9% | Dec 8, 2022 |
| Wells Fargo | Analyst unavailable | $98 | $90.27 | -49.0% | Jul 27, 2022 |
| Argus Research | John Eade | $112 | $94.91 | -41.7% | May 1, 2022 |
| Wells Fargo | Analyst unavailable | $106 | $99.19 | -44.8% | Apr 27, 2022 |
| RBC Capital | Ken Herbert | $125 | $102.11 | -34.9% | Apr 11, 2022 |
| Barclays | David Strauss | $107 | $97.04 | -44.3% | Mar 14, 2022 |
| Wolfe Research | Michael Maugeri | $111 | $94.36 | -42.2% | Feb 17, 2022 |
| Robert W. Baird | Peter Arment | $106 | $88.98 | -44.8% | Jan 26, 2022 |
| Credit Suisse | Robert Spingarn | $101 | $86.7 | -47.4% | Jul 27, 2021 |
| Cowen & Co. | Cai von Rumohr | $105 | $86.7 | -45.3% | Jul 27, 2021 |
| Langenberg & Co. | Brian Langenberg | $100 | $82.2 | -47.9% | May 3, 2021 |
| UBS | Myles Walton | $96 | $81.16 | -50.0% | Apr 28, 2021 |
| Capital One Financial | Jonathan Raviv | $85 | $81.16 | -55.8% | Apr 28, 2021 |
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Start freeCompany context
Snapshot as of publicationRTX Corporation, a major player in the aerospace and defense sectors, provides sophisticated systems and extensive services to a diverse global clientele. This includes commercial entities, military organizations, and government agencies, both within the United States and internationally. The company's operations are divided into three primary business units: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace segment delivers a broad range of aerospace and defense products, alongside comprehensive aftermarket support solutions. Its customer base spans manufacturers of civil and military aircraft, commercial airlines, and operators in regional, business, general aviation, defense, and commercial space ventures. This division's offerings cover the design, production, and maintenance of aircraft interior components, such as oxygen systems, food and beverage preparation and storage facilities, galley systems, and lavatory and wastewater management.…
Historical context
All RTX earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| JBHT J.B. Hunt Transport Services, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.6% | -2.0% | J.B. Hunt: Strong demand, but margin repair remains central |
| FAST Fastenal Company | FY2026 Q3 · Calendar Q4 2026 | +3.3% | +1.1% | Fastenal Q3: Share Gains and Digital Adoption Lift Growth |
Latest beats and misses
Who reports nextBeat on EPS
Missed on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-01-14T00:00:50.895859+00:00
- Polygon adjusted daily market bars · 2026-10-20T01:30:47.938449+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-20T01:30:47.935680+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-20. For educational purposes only; not investment advice.