RTX Corporation - RTX STOCK NEWS

Raytheon Missiles & Defense has secured a $624 million contract from the U.S. Army to manufacture 1,300 Stinger missiles. This contract encompasses engineering support and production acceleration to meet urgent defense needs, particularly for replenishing stocks provided to Ukraine. The funding is part of the Ukraine Supplemental funding package aimed at supporting Ukrainian defense forces. The Stinger missile is recognized for its operational effectiveness against aerial threats.

Raytheon Technologies (NYSE: RTX) CFO Neil Mitchill is scheduled to present at UBS's Global Industrials and Transportation conference on June 8, 2022, at 12:10 p.m. Eastern Time. The presentation will be live-streamed and later archived on www.rtx.com. Raytheon Technologies operates in the aerospace and defense sectors, offering advanced systems and services for commercial and governmental needs through its four main businesses: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.

Raytheon Technologies (RTX) and Kord successfully demonstrated the capabilities of a 50kW high energy laser system during a U.S. Army operational assessment at White Sands Missile Range. Over four weeks, the system countered multiple 60mm mortar rounds while also defeating various drone threats. The DE M-SHORAD system aims to enhance protection against aerial threats and is on track for operational fielding in 2022. This collaboration highlights the integration of advanced technologies, offering a near-zero cost per shot and adapting to various platforms for military applications.

Raytheon Technologies (NYSE: RTX) has announced a strategic investment in Hermeus Corporation, joining a $100 million Series B financing round to support the development of hypersonic aircraft. The investment is part of RTX Ventures, aiming to advance aerospace and defense innovations. This partnership will enhance Hermeus' efforts in building its Quarterhorse aircraft and accelerating the Darkhorse project. RTX Ventures focuses on areas like artificial intelligence and precision sensing, emphasizing the importance of hypersonic technologies for national security.

Intelsat has appointed four new leaders to enhance its financial and commercial functions. Toby O’Brien, previously CFO at Raytheon Technologies (RTX), will become Intelsat’s new CFO. Michael DeMarco shifts to Chief Commercial Officer after over 20 years with Intelsat. Clay McConnell is named Senior VP of Corporate Communications and Marketing, joining from Delta Air Lines (DAL). Jeff Sare becomes President of the Commercial Aviation division, previously with Panasonic Avionics. These appointments aim to bolster Intelsat's strategic initiatives in global connectivity.

Pratt & Whitney, a Raytheon Technologies business, announced that Qantas Airways has selected its GTF™ engines to power 40 Airbus A220 and A320neo aircraft, including the A321XLR, primarily for domestic and short-haul international routes. The announcement took place in Sydney, Australia, where leaders from both companies celebrated the partnership. Alongside the engine supply, Pratt & Whitney will provide long-term maintenance through an EngineWise® agreement. Aircraft deliveries are set to begin in the latter half of 2023.

Raytheon Missiles & Defense, a Raytheon Technologies business, has completed a Series A investment in Firehawk Aerospace, focusing on high-performance propulsion technology. The collaboration aims to integrate Firehawk's advanced propulsion systems into future missile systems over the coming years. Firehawk holds several patents in hybrid propulsion technologies, which are expected to enhance defense capabilities against advanced threats. This partnership signifies a strategic move to innovate missile technology, crucial for meeting evolving military challenges.

Pratt & Whitney, a division of Raytheon Technologies Corp. (NYSE: RTX), is partnering with Air Canada to provide GTF™ engines for 30 firm and 14 optional Airbus A321XLR aircraft. Alongside engine supply, Pratt & Whitney will maintain the engines through an EngineWise® Comprehensive service agreement. Deliveries are slated to begin in Q1 2024. The GTF engines are notable for their fuel efficiency, having saved over 600 million gallons of fuel and reduced emissions significantly since 2016, thus enhancing sustainability in aviation.

Raytheon Technologies (RTX) reported a first-quarter 2022 sales increase of 3% year-over-year, totaling $15.7 billion. GAAP EPS rose 45% to $0.74, with adjusted EPS at $1.15, up 28%. Free cash flow was $37 million, significantly down 89% compared to the previous year. The company anticipates full-year sales between $67.75 and $68.75 billion, slightly decreased from earlier estimates. Notable bookings included $1.2 billion in classified defense contracts. The backlog stands at $154 billion.