NYSE$RTX

Raytheon-Technologies · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

RTX reported Q3 2025 total net sales of $22.5B with net income attributable to shareowners of $1.92B ($1.43 per share).

Third-quarter total net sales were $22.48 billion, up 12% year over year. Net income attributable to common shareowners was $1.92 billion; diluted EPS was $1.43. Collins Aerospace and Pratt & Whitney aftermarket strength supported results.

  • Q3 total net sales $22.48B (+12% YoY).
  • Net income attributable to shareowners $1.92B; diluted EPS $1.43.
  • Defense and commercial aerospace demand support backlog.
  • Supply chain and GTF aftermarket remain key operational themes.

Headline financials

Total Revenue

$22.5B

Previous: $20.1B+11.9%
EPS (adj)

$1.43

Previous: $1.09+31.2%
Total Backlog

$251B

No prior period
Operating Cash Flow

$4.64B

Previous: $2.52B+83.9%
Dividends Paid

$900M

No prior period
Capital Expenditures

-$1.66B

Previous: -$1.56B-6.5%
Free Cash Flow

$261M

Previous: -$84M+410.7%
Net Income

$1.92B

Previous: $1.47B+30.3%
Operating Income

$2.52B

Previous: $2.03B+24.4%
Gross Profit

$4.58B

Previous: $20.1B-77.2%
Cash & Equivalents

$5.97B

Previous: $6.68B-10.7%
Total Assets

$169B

Previous: $165B+2.3%
R&D Expense

$684M

Previous: $751M-8.9%

Revenue & EPS history

Raytheon · Revenue · Quarterly

$22.5B

Q3 2025+11.9%vs Q3 2024
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Revenue by segment

Raytheon · $14B total across 3 segments · Q3 2023

  • Collins Aerospace
    $6.63B+30.0%
  • Raytheon
    $6.47B+76.0%
  • Pratt & Whitney
    $926M-82.8%

Forward guidance

Management discusses capital returns, operational priorities, and segment outlook; formal guidance varies by issuer.

Tailwinds

  • Dividend, buyback, or investment plans support shareholder returns.
  • Volume, pricing, or subscription trends cited for core businesses.
  • Balance sheet and cash flow support strategic capex.

Headwinds

  • Commodity prices, rates, or FX may affect near-term earnings.
  • Regulatory, competitive, or macro headwinds noted in MD&A.
  • One-time charges or impairments may affect GAAP comparability.

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 2025

Historical avgQ3 2025

-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

Earnings price reactions
QuarterReport dateReaction (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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