Shares of RTX Corp. (RTX) rose 4% in the market pre-open Tuesday after the company reported better-than-expected Q4 earnings per share (EPS) and strong 2024 guidance.
The aerospace and defense giant posted fourth-quarter EPS of $1.29, beating the consensus estimates of $1.25.
The company generated $19.9 billion in revenue during the period, also above the estimated $19.72 billion.
RTX’s Collins Aerospace Systems unit reported $7.12 billion in sales, while analysts were looking for $6.94 billion. Free cash flow stood at $3.91 billion, topping the projected $3.23 billion.
For the full fiscal 2024, RTX expects EPS to be in the range of $5.25 to $5.40, compared with Wall Street’s expectations of $5.28. The company expects to report between $78 billion and $79 billion in revenue, while analysts were looking for $74 billion.
“RTX is beginning 2024 with strong momentum and we are projecting another year of strong sales growth and continued segment margin expansion," said RTX President and COO Chris Calio.
"The financial and operational outlook of our GTF fleet management plans remain consistent from October and continues to be a top priority as we focus on driving performance across all three businesses to support our customers and deliver shareowner value.”