RTX Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>RTX Corp submitted its quarterly 10-Q filing for the period ending March 31, 2024.</b>

AI Summary

RTX Corp (RTX) filed a Quarterly Report (10-Q) with the SEC on April 23, 2024. RTX Corp filed its 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company was formerly known as Raytheon Technologies Corp and United Technologies Corp. RTX Corp is incorporated in Delaware and operates in the Aircraft Engines & Engine Parts industry. The filing was made on April 23, 2024.

Why It Matters

For investors and stakeholders tracking RTX Corp, this filing contains several important signals. This 10-Q filing provides a detailed look at RTX Corp's financial performance and operational status during the first quarter of 2024. Investors and analysts can use this report to assess the company's financial health, identify trends, and make informed investment decisions.

Risk Assessment

Risk Level: low — RTX Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant unexpected disclosures.

Analyst Insight

Monitor future filings for detailed financial results and segment performance to understand the impact of market conditions on RTX Corp.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• 2024-04-23 — Filing Date (10-Q filing)
• 0000101829-24-000012 — Accession Number (SEC Filing)
• 1231 — Fiscal Year End (Company Data)

Key Players & Entities

• RTX Corp (company) — FILER
• Raytheon Technologies Corp (company) — FORMER COMPANY
• United Technologies Corp (company) — FORMER COMPANY
• DE (jurisdiction) — STATE OF INCORPORATION
• AIRCRAFT ENGINES & ENGINE PARTS (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• 2024-04-23 (date) — FILED AS OF DATE
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-01-01 (date) — Period covered by the report

FAQ

Industry Context

RTX Corp operates in the aerospace and defense industry, a sector characterized by long product cycles, significant R&D investment, and government contracts.

Regulatory Implications

Companies in the aerospace and defense sector are subject to various regulations, including those related to defense procurement, export controls, and safety standards.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Analyze segment revenues and profitability to understand performance drivers within RTX Corp's business units.
3. Compare Q1 2024 results with prior periods and industry benchmarks to identify performance trends.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-23: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $1 — ange on which registered Common Stock ($1 par value) RTX New York Stock Exchange

Filing Documents

• rtx-20240331.htm (10-Q) — 1686KB
• exhibit1012024-03x3110xq.htm (EX-10.1) — 129KB
• exhibit1022024-03x3110xq.htm (EX-10.2) — 55KB
• exhibit1032024-03x3110xq.htm (EX-10.3) — 82KB
• exhibit1042024-03x3110xq.htm (EX-10.4) — 65KB
• exhibit1052024-03x3110xq.htm (EX-10.5) — 67KB
• exhibit1062024-03x3110xq.htm (EX-10.6) — 39KB
• exhibit1072024-03x3110xq.htm (EX-10.7) — 119KB
• exhibit152024-03x3110xq.htm (EX-15) — 5KB
• exhibit3112024-03x3110xq.htm (EX-31.1) — 11KB
• exhibit3122024-03x3110xq.htm (EX-31.2) — 11KB
• exhibit3132024-03x3110xq.htm (EX-31.3) — 11KB
• exhibit322024-03x3110xq.htm (EX-32) — 8KB
• image_0.jpg (GRAPHIC) — 8KB
• 0000101829-24-000012.txt (&nbsp;) — 9903KB
• rtx-20240331.xsd (EX-101.SCH) — 59KB
• rtx-20240331_cal.xml (EX-101.CAL) — 71KB
• rtx-20240331_def.xml (EX-101.DEF) — 292KB
• rtx-20240331_lab.xml (EX-101.LAB) — 717KB
• rtx-20240331_pre.xml (EX-101.PRE) — 470KB
• rtx-20240331_htm.xml (XML) — 1657KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 4

Unaudited Financial Statements

Item 1. Unaudited Financial Statements: 4 Condensed Consolidated Statement of Operations for the quarters ended March 31, 2024 and 2023 4 Condensed Consolidated Statement of Comprehensive Income for the quarters ended March 31, 2024 and 2023 5 Condensed Consolidated Balance Sheet at March 31 , 202 4 and December 31, 202 3 6 Condensed Consolidated Statement of Cash Flows for the quarters ended March 31, 2024 and 2023 7 Condensed Consolidated Statement of Changes in Equity for the quarters ended March 31, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9 Report of Independent Registered Public Accounting Firm 27

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 42

Controls and Procedures

Item 4. Controls and Procedures 42

– OTHER INFORMATION

PART II – OTHER INFORMATION 44

Legal Proceedings

Item 1. Legal Proceedings 44

Risk Factors

Item 1A. Risk Factors 45

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45

Other Information

Item 5. Other Information 45

Exhibits

Item 6. Exhibits 46

SIGNATURES

SIGNATURES 47 RTX Corporation and its subsidiaries' names, abbreviations thereof, logos, and products and services designators are all either the registered or unregistered trademarks or tradenames of RTX Corporation and its subsidiaries. Names, abbreviations of names, logos, and products and services designators of other companies are either the registered or unregistered trademarks or tradenames of their respective owners. References to internet web sites in this Form 10-Q are provided for convenience only. Information available through these web sites is not incorporated by reference into this Form 10-Q. 3 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements RTX CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) Quarter Ended March 31, (dollars in millions, except per share amounts) 2024 2023 Net Sales: Products sales $ 14,303 $ 12,787 Services sales 5,002 4,427 Total net sales 19,305 17,214 Costs and Expenses: Cost of sales - products 12,216 10,700 Cost of sales - services 3,528 2,945 Research and development 669 607 Selling, general, and administrative 1,394 1,363 Total costs and expenses 17,807 15,615 Other income, net 372 88 Operating profit 1,870 1,687 Non-operating expense (income), net: Non-service pension income ( 386 ) ( 444 ) Interest expense, net 405 315 Total non-operating expense (income), net 19 ( 129 ) Income before income taxes 1,851 1,816 Income tax expense 108 335 Net income 1,743 1,481 Less: Noncontrolling interest in subsidiaries' earnings 34 55 Net income attributable to common shareowners $ 1,709 $ 1,426 Earnings Per Share attributable to common shareowners: Basic $ 1.29 $ 0.98 Diluted 1.28 0.97 See accompanying Notes to Condensed Consolidated Financial Statements 4 Table of Contents RTX CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) Quarter Ended March 31, (dollars in millions) 2024 2023 Net income $ 1,743 $ 1,481 Other comprehensive income (loss), before tax: Foreign currency translation adjustments ( 121 ) 122 Pension and postretirement benefit plans adjustments ( 51 ) ( 146 ) Change in unrealized cash flow hedging ( 73 ) 12 Other comprehensive income (loss), before tax ( 245 ) ( 12 ) Income tax benefit related to items of other comprehensive income (loss) 29 41 Other comprehensive income (loss), net of tax ( 216 ) 29 Comprehensive income 1,527 1,510 Less: Comprehensive income attributable to noncontrolling interest 34 55 Comprehensive income attributable to common shareowners $ 1,493 $ 1,455 See accompanying Notes to

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