Eddie A. Young
RTX Corp.'s stock (RTX) saw a 4% increase in premarket trading on Tuesday following the release of their impressive fourth-quarter earnings report. The company, known for owning Collins Aerospace Systems and Pratt & Whitney, exceeded analyst expectations in both profit and revenue.
For the three months ended December 31, RTX reported a slight rise in net income to $1.43 billion, or $1.05 per share, compared to $1.42 billion, or 96 cents per share, in the same period the previous year. Furthermore, RTX's adjusted profit of $1.29 per share surpassed the FactSet consensus estimate by five cents per share.
RTX also experienced a substantial increase in revenue, which rose by 10% to reach $19.93 billion. This exceeded the estimated revenue of $19.74 billion.
Looking ahead, RTX provided optimistic guidance for 2024, stating that it expects adjusted earnings ranging between $5.25 and $5.40 per share. This forecast is higher than the FactSet consensus estimate of $5.28 per share.
In addition to strong financial performance, RTX remains committed to enhancing shareholder value. The company plans to return $36 billion to $37 billion to shareholders by 2025.
RTX is poised for another successful year, as its President and Operating Chief, Chris Calio, stated, "RTX is beginning 2024 with strong momentum and we are projecting another year of strong sales growth and continued segment margin expansion."
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