RTX Corp: 2Q26 Top and Bottom Line Beat; 2026 Outlook Raised

Research evidence excerpt

RTX Corp: 2Q26 Top and Bottom Line Beat; 2026 Outlook Raised

Update

July 23, 2026 11:31 AM GMT

Morgan Stanley & Co. LLCMRTX Corp | North America Kristine T Liwag

Equity Analyst

2Q26 Top and Bottom Line Kristine.Liwag@morganstanley.comJason T Holcomb +1 212 761-2980

Research Associate

Jason.Holcomb@morganstanley.com +1 212 761-5592

Beat; 2026 Outlook Raised Justin M Lang

Justin.Lang@morganstanley.com +1 212 761-6251

AlphaSignals Earnings Reaction Gabrielle Knafelman

Strengthens our thesis Meaningful upside Modest revision higher Gaby.Knafelman@morganstanley.com +1 212 761-4838

Impact to our thesis Financial results versus consensus Direction of next 12-month Shaina C Zuber

consensus EPS

Source: Company data, Morgan Stanley Research Shaina.Zuber@morganstanley.com +1 212 761-6353

RTX reports Adj. EPS of $1.89, above consensus and MSe by ~14%. RTX Corp (RTX.N, RTX UN)

Aerospace | United States of America

RTX reported Adj. EPS of $1.89, above consensus and MSe of $1.66 by ~14%. The

Stock Rating Overweight

strong bottom-line beat was driven by a better-than-expected top line (above cons. Industry View Attractive

Price target $220.00

by ~8%) and better-than-expected business segment operating profit (above cons. Shr price, close (Jul 22, 2026) $194.88

by ~11%), which was broad-based across segments. RTX raised its 2026 outlook for Mkt cap, curr (mm) $265,674

52-Week Range $214.41-143.61

sales to $95.0-96.0bn (from $92.5-93.5bn; cons of ~$94.2bn), EPS to $7.10-7.25

(from $6.70-6.90; cons of $6.95), and narrowed its FCF outlook to $8.50-8.75bn

(from $8.25-8.75bn; cons of ~$8.61bn). RTX also raised 2026 segment level

guidance across its segments. At Collins Aerospace, RTX now expects adj. sales

growth of MSD-HSD% (from MSD% prior) and a $550-625mn YoY increase in