RTX Corp - RTX STOCK NEWS

Raytheon Technologies (RTX) reported a 10% sales growth in Q1 2023, reaching $17.2 billion in revenue. The GAAP EPS rose to $0.97, marking a 31% increase year-over-year, while adjusted EPS grew 6% to $1.22. Operating cash outflow was $863 million with a free cash outflow of $1.38 billion. The company's backlog reached a record $180 billion, including $71 billion from defense and $109 billion from commercial sectors. RTX achieved $50 million in gross cost synergies and repurchased $562 million in shares. The company reaffirmed its full-year outlook of $72 billion to $73 billion in sales and $4.90 to $5.05 in adjusted EPS.

Raytheon Technologies Corporation (RTX) has declared a quarterly cash dividend of 59 cents per share, marking a 7.3% increase over the previous quarter. This dividend will be paid on June 15, 2023, to shareholders recorded by May 19, 2023. CEO Greg Hayes stated that the dividend increase reflects the company's commitment to shareholder value, highlighting strong demand in both commercial and defense sectors. Raytheon Technologies aims to return at least $20 billion to shareholders within four years following its merger. The company has a long-standing tradition of paying dividends, consistently since 1936, with 2022 sales of $67 billion.

Raytheon Technologies (NYSE: RTX) has launched RAIVEN, an advanced electro-optical intelligent-sensing capability designed to enhance pilot performance through faster and more accurate threat identification. This innovative system utilizes artificial intelligence, hyperspectral imaging, and LiDAR technology, allowing operators to detect threats up to five times farther and more clearly than traditional systems.

RAIVEN aims to improve platform survivability and streamline decision-making processes, significantly reducing pilot workload while accelerating engagement timelines against adversaries. The modular system builds on Raytheon's established Multi-Spectral Targeting System family, enhancing mission versatility without changing size, weight, or power requirements. Initial testing of the RAIVEN system, specifically the RT-1000 version, is scheduled for 2024, as part of the U.S. Army's Future Vertical Lift modernization.

Raytheon Technologies (NYSE: RTX) has secured a $237 million contract from the U.S. Army for Ku-band Radio Frequency Sensors (KuRFS) and Coyote® effectors aimed at enhancing defense against unmanned aircraft. This contract supports U.S Central Command operations and includes both fixed-site and mobile systems. KuRFS offers advanced 360-degree threat detection, while Coyote effectors are designed to defeat drones. The integration of these systems within the Army’s Low, slow, small-unmanned aircraft Integrated Defeat System (LIDS) provides a robust defense solution against aerial threats. With 2022 sales of $67 billion, Raytheon continues to lead in aerospace and defense innovations.

The U.S. Air Force has successfully completed the Functional Configuration Audit for the AIM-120D-3, the latest variant of Raytheon Technologies' Advanced Medium Range Air-to-Air Missile. This milestone indicates the missile is on schedule for operational deployment within the year. The AIM-120D-3 features advanced hardware and enhanced software capabilities designed to counter both current and future threats. Integrated on multiple platforms across 42 countries, it is the first air-to-air weapon able to engage peer threats at extended ranges. Following rigorous testing including live firings, the F3R program continues with the AIM-120 C-8 variant, aimed at international clients. Raytheon Technologies, headquartered in Arlington, Virginia, reported $67 billion in sales for 2022, solidifying its position as a leader in aerospace and defense.

Raytheon Technologies (NYSE: RTX) has announced a strategic partnership with SpiderOak to develop advanced zero-trust security systems for satellite communications in proliferated low-Earth orbit (pLEO). This collaboration aims to combine SpiderOak's OrbitSecure solution with Raytheon BBN's Distributed, Disrupted, Disconnected and Denied (D4) secure cloud solution to enhance network resilience in contested environments. The partnership targets creating secure and efficient pLEO communications essential for military and commercial applications. Key locations for this initiative include Cambridge, Massachusetts; Reston, Virginia; and Centennial, Colorado. The project will integrate capabilities into space-qualified hardware over the next year, with a focus on addressing cyber and kinetic threats.

Raytheon Technologies (NYSE: RTX) will announce its first quarter 2023 earnings on April 25, 2023, prior to market opening. A conference call is scheduled for 8:30 a.m. ET on the same day, which will be accessible via live webcast on their website. The company, headquartered in Arlington, Virginia, reported sales of $67 billion in 2022, making it the world's largest aerospace and defense firm. Investors and media can find further information and participate in the conference via the company's official channels.