RTX Corp Files Q3 2024 10-Q

TL;DR

RTX Q3 2024 10-Q filed. Financials out.

AI Summary

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

Why It Matters

This filing provides investors and analysts 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 disruptions, and global economic conditions.

Key Players & Entities

• RTX Corp (company) — Filer of the 10-Q
• Raytheon Technologies Corp (company) — Former name of RTX Corp
• 20240930 (date) — End of the reporting period
• 20241022 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• rtx-20240930.htm (10-Q) — 2475KB
• exhibit152024-09x3010xq.htm (EX-15) — 5KB
• exhibit3112024-09x3010xq.htm (EX-31.1) — 11KB
• exhibit3122024-09x3010xq.htm (EX-31.2) — 11KB
• exhibit3132024-09x3010xq.htm (EX-31.3) — 11KB
• exhibit322024-09x3010xq.htm (EX-32) — 8KB
• 0000101829-24-000038.txt ( ) — 11881KB
• rtx-20240930.xsd (EX-101.SCH) — 67KB
• rtx-20240930_cal.xml (EX-101.CAL) — 71KB
• rtx-20240930_def.xml (EX-101.DEF) — 326KB
• rtx-20240930_lab.xml (EX-101.LAB) — 794KB
• rtx-20240930_pre.xml (EX-101.PRE) — 511KB
• rtx-20240930_htm.xml (XML) — 2467KB

– 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 nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statement of Comprehensive Income (Loss ) for the quarters and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Balance Sheet at September 30, 2024 and December 31, 2023 6 Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 2024 and 2023 7 Condensed Consolidated Statement of Changes in Equity for the quarters and nine months ended September 30, 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 52

Controls and Procedures

Item 4. Controls and Procedures 52

– OTHER INFORMATION

PART II – OTHER INFORMATION 54

Legal Proceedings

Item 1. Legal Proceedings 54

Risk Factors

Item 1A. Risk Factors 55

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55

Other Information

Item 5. Other Information 56

Exhibits

Item 6. Exhibits 56

SIGNATURES

SIGNATURES 57 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 September 30, Nine Months Ended September 30, (dollars in millions, except per share amounts) 2024 2023 2024 2023 Net Sales: Products sales $ 14,708 $ 8,615 $ 43,573 $ 34,813 Services sales 5,381 4,849 15,542 14,180 Total net sales 20,089 13,464 59,115 48,993 Costs and Expenses: Cost of sales - products 12,336 9,289 37,177 31,078 Cost of sales - services 3,719 3,461 10,763 9,835 Research and development 751 712 2,126 2,048 Selling, general, and administrative 1,389 1,401 4,232 4,364 Total costs and expenses 18,195 14,863 54,298 47,325 Other income (expense), net 134 3 ( 390 ) 116 Operating profit (loss) 2,028 ( 1,396 ) 4,427 1,784 Non-operating expense (income), net: Non-service pension income ( 374 ) ( 443 ) ( 1,134 ) ( 1,334 ) Interest expense, net 496 369 1,376 1,017 Total non-operating expense (income), net 122 ( 74 ) 242 ( 317 ) Income (loss) before income taxes 1,906 ( 1,322 ) 4,185 2,101 Income tax expense (benefit) 371 ( 389 ) 732 194 Net income (loss) 1,535 ( 933 ) 3,453 1,907 Less: Noncontrolling interest in subsidiaries' earnings 63 51 161 138 Net income (loss) attributable to common shareowners $ 1,472 $ ( 984 ) $ 3,292 $ 1,769 Earnings (Loss) Per Share attributable to common shareowners: Basic $ 1.10 $ ( 0.68 ) $ 2.47 $ 1.22 Diluted 1.09 ( 0.68 ) 2.45 1.21 See accompanying Notes to Condensed Consolidated Financial Statements 4 Table of Contents RTX CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Unaudited) Quarter Ended September 30, Nine Months Ended September 30, (dollars in millions) 2024 2023 2024 2023 Net income (loss) $ 1,535 $ ( 933 ) $ 3,453 $ 1,907 Other comprehensive income (loss), before tax: Foreign currency translation adjustments 749 ( 441 ) 560 85 Pension and postretirement benefit plans adjustments ( 116 ) (

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