Shares of RTX Corp (RTX) rose 4% before the market open on Tuesday after the company reported better-than-expected fourth-quarter earnings per share (EPS) and strong 2024 guidance.
The aerospace and defense giant posted fourth-quarter earnings per share of $1.29, beating consensus estimates of $1.25.
The company generated revenue of $19.9 billion in the period, also above the estimate of $19.72 billion.
RTX's Collins Aerospace Systems unit reported sales of USD 7.12 billion, while analysts were expecting USD 6.94 billion. Free cash flow amounted to USD 3.91 billion, exceeding the forecast of USD 3.23 billion.
For the full fiscal year 2024, RTX expects earnings per share between USD 5.25 and USD 5.40, compared to Wall Street expectations of USD 5.28. The company anticipates revenue of between USD 78 billion and USD 79 billion, while analysts had expected USD 74 billion.
"RTX enters 2024 with strong momentum and we forecast another year of strong revenue growth and continued segment margin expansion," said RTX President and COO Chris Calio.
"The financial and operational outlook for our GTF fleet management plans remain consistent since October and continue to be a top priority as we focus on driving performance across all three business segments to support our customers and create value for shareholders."