10-Q · July 23, 2026
RTX delivered strong Q2 growth, with revenue up 14.5% year over year to $24.708 billion, operating margin up 150 basis points to 11.4%, and GAAP diluted EPS up 28.7% to $1.57. Growth was broad-based across Collins,…
Earnings analysis · 10-Q
RTX earnings analysis
Filed October 20, 2026 · Our reading of the company's report
The latest report
RTX reported $24.965 billion of Q3 revenue and $2.26 of EPS, with revenue up 11.1% year over year and EPS up 60.3% year over year versus the provided prior-year quarter. The company raised FY2026 sales, organic growth,…
Read full summary
RTX reported $24.965 billion of Q3 revenue and $2.26 of EPS, with revenue up 11.1% year over year and EPS up 60.3% year over year versus the provided prior-year quarter. The company raised FY2026 sales, organic growth, adjusted EPS and free-cash-flow outlooks, supporting a bullish trend assessment. The 10-Q identified no material changes to the 2025 Form 10-K risk factors, while current-quarter gross margin, operating margin, free cash flow and segment revenue were not available in the supplied filing extract.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.26
What stood out
-
Revenue growth accelerated year over year
Revenue was $24.965 billion, up from $24.71 billion in Q2 2026 and $22.48 billion in Q3 2025, representing approximately 1.0% sequential growth and 11.1% year-over-year growth.
-
EPS increased sharply
Reported EPS was $2.26 versus $1.57 in Q2 2026 and $1.41 in Q3 2025, increases of approximately 43.9% sequentially and 60.3% year over year.
-
FY2026 sales outlook raised
RTX raised FY2026 adjusted sales guidance to $97.0 billion-$97.5 billion from $95.0 billion-$96.0 billion, while increasing its organic sales growth outlook to 10%-11% from 8%-9%.
-
Profit and cash outlook raised
FY2026 adjusted EPS guidance increased to $7.65-$7.75 from $7.10-$7.25, and free cash flow guidance increased to $9.0 billion-$9.2 billion from $8.50 billion-$8.75 billion.
-
Capital allocation remains flexible
The company had $615 million remaining under its share-repurchase authorization at September 30, 2026 and made no share repurchases during the quarter.
What to watch
-
No reduction in existing risk exposure
The filing states there were no material changes to the risk factors disclosed in the 2025 Form 10-K, so previously disclosed risks remain applicable rather than being reduced.
-
Repurchases remained inactive
RTX made no share repurchases during the quarter ended September 30, 2026, despite having $615 million remaining under the authorization, indicating that repurchases were not a current use of cash.
-
Market-risk exposure unchanged
The filing states there was no significant change in exposure to market risk during the nine months ended September 30, 2026; unchanged exposure still includes market, currency and other financial-market risks.
Management's outlook
FY2026 adjusted sales outlook was raised to $97.0 billion-$97.5 billion from $95.0 billion-$96.0 billion; adjusted EPS to $7.65-$7.75 from $7.10-$7.25; organic sales growth to 10%-11% from 8%-9%; and free cash flow to $9.0 billion-$9.2 billion from $8.50 billion-$8.75 billion.
Earlier filings 2
10-Q · April 21, 2026
RTX reported a strong quarter with net sales of $22,076 million, up $1,770 million (≈8.7%) versus $20,306 million a year ago, and operating profit of $2,555 million (up $520 million). Diluted EPS was $1.51 (up $0.37 vs…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.