NYSE$RTX
Raytheon-Technologies · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
RTX reported mixed Q3 2023 results, with sales down due to the Pratt & Whitney powder metal matter but adjusted sales up, and announced a $10 billion accelerated share repurchase program.
RTX reported a decrease in sales due to the Pratt & Whitney powder metal issue, but adjusted sales increased. The company is proceeding with a $10 billion accelerated share repurchase program and increasing its capital return commitment through 2025.
- Reported sales decreased by 21 percent, while adjusted sales increased by 12 percent.
- GAAP EPS was a loss of $0.68, but adjusted EPS increased by 3 percent to $1.25.
- Operating cash flow was $3.3 billion, and free cash flow was $2.8 billion.
- The company's backlog reached $190 billion.
Headline financials
Revenue & EPS history
Raytheon · Revenue · Quarterly
$13.5B
Revenue by segment
Raytheon · $14B total across 3 segments · Q3 2023
- Collins Aerospace$6.63B+30.0%47.3%
- Raytheon$6.47B+76.0%46.1%
- Pratt & Whitney$926M-82.8%6.6%
Forward guidance
RTX updates outlook for full year 2023
Tailwinds
- Reported sales of approximately $68.5 billion, up from $67.5 - $68.5 billion
- Adjusted sales* of approximately $74.0 billion, up from $73.0 - $74.0 billion
- Adjusted EPS* of $4.98 - $5.02 from $4.95 - $5.05
- Free cash flow* of approximately $4.8 billion, up from approximately $4.3 billion
- Share repurchase spending of approximately $12.8 billion of RTX shares, up from $3.0 billion
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-0.3%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+2.4%
Avg return
30 days after
44%
32 / 73 earnings
Positive
+8.7%
Q2 2024
Best reaction
-13.9%
Q3 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.2% | -11.0% | -10.1% | |
| Q4 2025 | +3.1% | +3.5% | +1.8% | |
| Q3 2025 | +7.6% | +11.2% | +7.5% | |
| Q2 2025 | -0.4% | -1.3% | +0.1% | |
| Q1 2025 | -9.8% | -0.7% | +6.3% | |
| Q4 2024 | +2.6% | +3.1% | +4.4% | |
| Q3 2024 | +1.0% | -0.6% | -4.3% | |
| Q2 2024 | +8.7% | +11.5% | +13.1% | |
| Q1 2024 | -0.5% | -0.1% | +3.8% | |
| Q4 2023 | +5.3% | +6.3% | +5.3% | |
| Q3 2023 | +7.2% | +8.2% | +9.1% | |
| Q2 2023 | -11.0% | -10.0% | -12.2% | |
| Q1 2023 | -4.7% | -2.5% | -9.1% | |
| Q4 2022 | +3.9% | +3.5% | +3.5% | |
| Q3 2022 | +0.9% | +6.0% | +8.2% | |
| Q2 2022 | -4.5% | -1.4% | +1.6% | |
| Q1 2022 | -0.8% | -4.7% | -4.6% | |
| Q4 2021 | +1.0% | +2.5% | +7.0% | |
| Q3 2021 | -2.3% | -2.7% | -4.5% | |
| Q2 2021 | +1.5% | +1.2% | -1.4% | |
| Q1 2021 | +2.6% | +2.8% | +9.4% | |
| Q4 2020 | -1.2% | +0.7% | +10.6% | |
| Q3 2020 | -13.9% | -10.7% | +21.4% | |
| Q2 2020 | -2.8% | -7.2% | -0.3% | |
| Q1 2020 | +1.3% | -2.1% | +24.4% | |
| Q4 2019 | +1.2% | -0.5% | -12.5% | |
| Q3 2019 | -0.3% | +0.3% | +3.0% | |
| Q2 2019 | -0.5% | -2.0% | -9.5% | |
| Q1 2019 | +3.3% | +3.7% | +10.6% | |
| Q4 2018 | +0.9% | +2.2% | +2.2% | |
| Q3 2018 | -2.7% | -0.2% | +3.7% | |
| Q2 2018 | -2.0% | -0.7% | -1.8% | |
| Q1 2018 | -1.9% | -0.0% | -4.5% | |
| Q4 2017 | -0.1% | -0.6% | +5.2% | |
| Q3 2017 | -0.1% | +0.2% | -2.5% | |
| Q2 2017 | -0.1% | +1.4% | -3.0% | |
| Q1 2017 | -0.5% | +0.0% | +5.8% | |
| Q4 2016 | +0.6% | +1.1% | +1.6% | |
| Q3 2016 | +0.8% | +1.0% | +7.7% | |
| Q2 2016 | -0.6% | -1.2% | -0.3% | |
| Q1 2016 | -0.3% | — | — | |
| Q4 2015 | -1.2% | — | — | |
| Q3 2015 | +0.4% | — | — | |
| Q2 2015 | -2.2% | — | — | |
| Q1 2015 | -2.5% | — | — | |
| Q4 2014 | +1.7% | — | — | |
| Q3 2014 | +1.0% | — | — | |
| Q2 2014 | +0.0% | — | — | |
| Q1 2014 | +2.7% | — | — | |
| Q4 2013 | +2.6% | — | — | |
| Q3 2013 | -1.0% | — | — | |
| Q2 2013 | +0.3% | — | — | |
| Q1 2013 | -0.5% | — | — | |
| Q4 2012 | +0.8% | — | — | |
| Q3 2012 | +1.1% | — | — | |
| Q2 2012 | +0.2% | — | — | |
| Q1 2012 | -0.2% | — | — | |
| Q4 2011 | +2.2% | — | — | |
| Q3 2011 | -0.4% | — | — | |
| Q2 2011 | -1.7% | — | — | |
| Q1 2011 | +1.3% | — | — | |
| Q4 2010 | +1.5% | — | — | |
| Q3 2010 | -0.4% | — | — | |
| Q2 2010 | +0.3% | — | — | |
| Q1 2010 | -2.8% | — | — | |
| Q1 2009 | -2.8% | — | — | |
| Q4 2007 | -1.5% | — | — | |
| Q4 2009 | -1.5% | — | — | |
| Q3 2009 | -1.6% | — | — | |
| Q3 2008 | -1.6% | — | — | |
| Q2 2008 | -2.4% | — | — | |
| Q4 2008 | -2.4% | — | — | |
| Q2 2009 | -2.4% | — | — |
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