RTX Corporation - RTX STOCK NEWS

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.

Raytheon, an RTX business, has achieved full-rate production approval for its Standard Missile-3 Block IIA (SM-3 Block IIA). This milestone marks the first Missile Defense Agency cooperative development program with Japan to reach this stage. The approval led to a $1.9 billion award from the U.S. Missile Defense Agency in July 2024 for producing rounds for both the U.S. government and Japan Ministry of Defense.

The SM-3 Block IIA, developed in cooperation between MDA, Japan Ministry of Defense, and their industry partners, features larger rocket motors and an enhanced kinetic warhead compared to its predecessors. This allows it to engage threats faster and protect larger regions from short- to intermediate-range ballistic missile threats. Work under this contract will be completed by February 2031 at Raytheon facilities in Tucson, Arizona, and Huntsville, Alabama.

RTX (NYSE: RTX) demonstrated new launched effects autonomy capabilities at the U.S. Army's Experimental Demonstration Gateway Event (EDGE). Collins Aerospace and Raytheon, both RTX businesses, showcased collaborative mission autonomy solutions for small, uncrewed aircraft. Collins demonstrated its RapidEdge™ mission system, while Raytheon deployed autonomy capabilities from the Collaborative Operations in Denied Environment program and Coyote® family of unmanned aircraft systems.

The demonstration showed how autonomous sensing and effects can extend the Army's reach in challenging environments. The systems demonstrated interoperability and the ability to execute missions even when command links to ground operators were severed. This event was part of the U.S. Army Future Command's efforts to advance manned and unmanned teaming capabilities for targeting, reconnaissance, and lethality.

The U.S. Army has awarded the Javelin Joint Venture (JJV) two production contracts totaling $267 million for Lightweight Command Launch Units (LWCLU). These contracts support the U.S. Army and Foreign Military Sales for Estonia, Latvia, and Lithuania. The LWCLU is 30% smaller and 25% lighter than the current Block I Command Launch Unit, while doubling target detection and recognition.

The contracts include a full-rate production contract and a second low-rate initial production contract. The LWCLU offers day and night engagement capability and is compatible with all Javelin variants. To date, the JJV has produced over 50,000 Javelin missiles and 12,000 reusable Command Launch Units. Production work will take place in Tucson, with estimated completion in 2026 and 2028.

Raytheon, an RTX business, successfully demonstrated the capabilities of its Ku-band Radio Frequency Sensor (KuRFS) and Coyote™ Block 2 and Block 3 effectors during the U.S. Army's annual summer test period. The systems were tested as part of the Low, slow, small-unmanned aircraft Integrated Defense System (LIDS), the Army's counter-drone solution. KuRFS excelled in detecting and tracking drone swarms, while Coyote defeated single and multiple targets with reduced engagement timelines. The tests validated recent software enhancements for both systems.

The U.S. Army is strengthening its counter-drone defenses with $374.8 million in recent contracts for LIDS equipment and support services. Raytheon has increased production capacity for the Coyote kinetic effector to meet growing demand.