RTX Corp Files Q2 2024 10-Q

TL;DR

RTX Q2 10-Q is in, check the numbers for the aerospace giant.

AI Summary

RTX Corp filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Raytheon Technologies Corp, reported financial results for the second quarter and the first half of the year. Key financial data and operational details are presented in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for RTX Corp, a major player in the aerospace and defense industry.

Risk Assessment

Risk Level: medium — As a large, publicly traded company in the aerospace and defense sector, RTX faces inherent risks related to government contracts, supply chain, and global economic conditions.

Key Players & Entities

• RTX Corp (company) — Filer of the 10-Q
• Raytheon Technologies Corp (company) — Former name of RTX Corp
• United Technologies Corp (company) — Former name of RTX Corp
• 20240630 (date) — End of the reporting period

FAQ

Key Financial Figures

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

Filing Documents

• rtx-20240630.htm (10-Q) — 2400KB
• exhibit1012024-06x3010xq.htm (EX-10.1) — 128KB
• exhibit152024-06x3010xq.htm (EX-15) — 5KB
• exhibit3112024-06x3010xq.htm (EX-31.1) — 11KB
• exhibit3122024-06x3010xq.htm (EX-31.2) — 11KB
• exhibit3132024-06x3010xq.htm (EX-31.3) — 11KB
• exhibit322024-06x3010xq.htm (EX-32) — 8KB
• 0000101829-24-000027.txt ( ) — 11667KB
• rtx-20240630.xsd (EX-101.SCH) — 61KB
• rtx-20240630_cal.xml (EX-101.CAL) — 71KB
• rtx-20240630_def.xml (EX-101.DEF) — 309KB
• rtx-20240630_lab.xml (EX-101.LAB) — 754KB
• rtx-20240630_pre.xml (EX-101.PRE) — 493KB
• rtx-20240630_htm.xml (XML) — 2405KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 4

Unaudited Financial Statements

Item 1. Unaudited Financial Statements: 4 Condensed Consolidated Statement of Operations for the quarters and six months ended June 3 0 , 2024 and 2023 4 Condensed Consolidated Statement of Comprehensive Income for the quarters and six months ended June 3 0 , 2024 and 2023 5 Condensed Consolidated Balance Sheet at June 30 , 2024 and December 31, 2023 6 Condensed Consolidated Statement of Cash Flows for the six months ended June 3 0 , 2024 and 2023 7 Condensed Consolidated Statement of Changes in Equity for the quarters and six months ended June 3 0 , 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9 Report of Independent Registered Public Accounting Firm 31

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 32

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 51

Controls and Procedures

Item 4. Controls and Procedures 51

– OTHER INFORMATION

PART II – OTHER INFORMATION 53

Legal Proceedings

Item 1. Legal Proceedings 53

Risk Factors

Item 1A. Risk Factors 54

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 54

Other Information

Item 5. Other Information 55

Exhibits

Item 6. Exhibits 55

SIGNATURES

SIGNATURES 56 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 June 30, Six Months Ended June 30, (dollars in millions, except per share amounts) 2024 2023 2024 2023 Net Sales: Products sales $ 14,562 $ 13,411 $ 28,865 $ 26,198 Services sales 5,159 4,904 10,161 9,331 Total net sales 19,721 18,315 39,026 35,529 Costs and Expenses: Cost of sales - products 12,625 11,089 24,841 21,789 Cost of sales - services 3,516 3,429 7,044 6,374 Research and development 706 729 1,375 1,336 Selling, general, and administrative 1,449 1,600 2,843 2,963 Total costs and expenses 18,296 16,847 36,103 32,462 Other income (expense), net ( 896 ) 25 ( 524 ) 113 Operating profit 529 1,493 2,399 3,180 Non-operating expense (income), net: Non-service pension income ( 374 ) ( 447 ) ( 760 ) ( 891 ) Interest expense, net 475 333 880 648 Total non-operating expense (income), net 101 ( 114 ) 120 ( 243 ) Income before income taxes 428 1,607 2,279 3,423 Income tax expense 253 248 361 583 Net income 175 1,359 1,918 2,840 Less: Noncontrolling interest in subsidiaries' earnings 64 32 98 87 Net income attributable to common shareowners $ 111 $ 1,327 $ 1,820 $ 2,753 Earnings Per Share attributable to common shareowners: Basic $ 0.08 $ 0.91 $ 1.37 $ 1.89 Diluted 0.08 0.90 $ 1.36 $ 1.87 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 June 30, Six Months Ended June 30, (dollars in millions) 2024 2023 2024 2023 Net income $ 175 $ 1,359 $ 1,918 $ 2,840 Other comprehensive income (loss), before tax: Foreign currency translation adjustments ( 68 ) 404 ( 189 ) 526 Pension and postretirement benefit plans adjustments ( 46 ) ( 183 ) ( 97 ) ( 329 ) Change in unrealized cash flow hedging 21 285 ( 52 ) 297 Other comprehensive income (loss

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