“RTX Shares Jump After Earnings Beat, Stock Buyback, and Engine Inspection Update”
October 25, 2023
“Shares of RTX (RTX) jumped over 7% Tuesday after the defense contractor reported better-than-expected results, announced a stock buyback, and gave an upbeat assessment of the progress it is making on inspections of a potential jet engine defect.
The company formerly known as Raytheon posted third quarter fiscal 2023 earnings per share (EPS) of $1.25, with revenue falling 20.6% year-over-year to $13.46 billion.1 Both exceeded estimates.
Sales rose 16% at its Collins Aerospace division, and 3% at its Raytheon unit. However, sales sank 83% at its Pratt & Whitney group as it had to take a popular engine out of service to inspect them for a “rare condition of powder metal.”…”
Honestly as soon as someone sees geopolitical conflict (war) its probably a good idea to start watching stocks like these. The sad truth is war is big money.