RTX Corporation - RTX STOCK NEWS

Pratt & Whitney Canada will demonstrate hydrogen combustion technology on a PW127XT regional turboprop engine through the Hydrogen Advanced Design Engine Study (HyADES) project, supported by Canada's Initiative for Sustainable Aviation Technology (INSAT). The project, in collaboration with Next Hydrogen Solutions, will initially focus on fuel nozzle and combustor rig testing, with future phases targeting full engine ground testing. The PW127XT engine offers over 3% better fuel efficiency, 40% improved time on wing, and 20% reduced maintenance costs compared to previous models. Additionally, a second INSAT project named TEAME will explore advanced materials for hot section components to improve thermal efficiency and reduce emissions.

Raytheon, an RTX business, successfully demonstrated its GhostEye® MR advanced medium-range sensor during Gray Flag 2024, a joint test event with the U.S. military. The radar system effectively tracked high-speed targets in maritime environments, showcasing its multi-mission capabilities. The demonstration was part of the Office of Secretary of Defense's Rapid Defense Experimentation Reserve program.

GhostEye MR, designed for the National Advanced Surface-to-Air Missile System (NASAMS), is a 360-degree surveillance and fire control sensor that can detect, track, and identify various threats, including large-quantity raid attacks. In August 2023, Raytheon received its first government contract to advance the system's development.

Next Level Aviation® (NLA) has extended its used serviceable material (USM) consignment agreement with Pratt & Whitney Commercial Serviceable Assets (CSA) for an additional three years. The partnership combines Pratt & Whitney's technical expertise with NLA's sales and delivery capabilities to provide cost-effective solutions to airlines, leasing companies, and MRO shops globally. Under the agreement, Pratt & Whitney CSA will consign USM to NLA to meet customer requirements, while NLA will support both companies' global customer base for used serviceable engine accessory needs.

Collins Aerospace, an RTX business, has completed prototype development of a solid-state power controller and power distribution panel for the SWITCH project, supported by the EU's Clean Aviation Joint Undertaking. The megawatt-class power distribution components, developed at Collins' Nördlingen facility, will be tested at The Grid in Rockford, Illinois. The project aims to develop a hybrid-electric propulsion system combining Collins' megawatt-class electric motor generators with a Pratt & Whitney GTF™ engine, supporting the aviation industry's goal of achieving net-zero carbon emissions by 2050.

Collins Aerospace, an RTX business, announces a $2 million expansion of its executive aircraft seating facility in Medley, Florida. The investment doubles the upholstery production floor space to 30,000 square feet and introduces new automated machinery. The 150,000 square-foot facility, which combines automated machining with specialized craftsmen, will benefit from enhanced production capacity, improved efficiencies, and expanded customization capabilities. The upgrade includes new automated quilted panel machinery for complex designs and an automated material cutter with digital visioning, aimed at reducing waste and improving product quality.

Raytheon, an RTX business, secured $676 million in contracts from the U.S. Army for the TOW weapon system, comprising a $430 million production contract in FY2023 and $246 million in 2024. The company can manufacture up to 10,000 missiles annually and has delivered over 700,000 TOW systems to date. Recent improvements include modernized fuzing and target detection, demonstrated in successful Fly-To-Buy lot acceptance tests. The TOW system has been used in combat 11,000 times since 2003, with approximately 13,000 missiles provided to Ukraine. The weapon system will remain in service with U.S. and allied forces beyond 2050.

Collins Aerospace, an RTX business, has signed a 10-year contract with Air Europa for comprehensive maintenance, repair and overhaul (MRO) services for their 787 aircraft fleet. The agreement includes onsite support for multiple 787 systems through Collins' FlightSense® and DispatchSM programs, along with predictive health maintenance via the Ascentia® software platform. Collins will expand its 787 spares pool in Europe, adding to its existing network in Atlanta, Dubai, Singapore, Toulouse, Venlo and Wichita. The services aim to optimize fleet performance while reducing repair time and costs.

RTX reported strong Q3 2024 results, with adjusted sales of $20.1 billion, up 6% year-over-year, and adjusted EPS of $1.45, up 16%. The company increased its 2024 outlook, projecting adjusted sales of $79.25 - $79.75 billion and adjusted EPS of $5.50 - $5.58. Key highlights include:

- Operating cash flow of $2.5 billion and free cash flow of $2.0 billion
- Record company backlog of $221 billion
- $1.1 billion returned to shareholders
- $90 million in incremental RTX gross cost synergies realized

Segment performance showed growth, with Collins Aerospace reporting a 7% increase in sales and Pratt & Whitney seeing a 14% increase in adjusted sales. Raytheon's sales decreased 1% but showed 5% growth excluding divestitures.

Collins Aerospace, an RTX business, has announced the first deliveries of its upgraded Venue™ cabin management system (CMS). The new system features smart monitors and an improved graphical user interface, enhancing entertainment, usability, and simplicity for operators and passengers. Key improvements include:

- 4K-enabled resolutions
- Comprehensive cabin controls
- Redesigned user interface
- Smart monitor integration
- Flexible integration options
- Streamlined software upgrades
- Compact design with reduced weight and power consumption

The Venue system, with over 1,700 installations on more than 50 aircraft models, continues to evolve technologically. The upgraded GUI features a modernized menu structure and consistent iconography, simplifying cabin controls with intuitive features.