Slide 1: 1st quarter 2026 Earnings conference call
1st quarter 2026 Earnings conference call April 21, 2026 © 2026 RTX Corporation. All rights reserved.
Slide 2: Forward looking statements
Forward looking statements Note: This investor webcast presentation contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide RTX Corporat
Slide 3: 1Q 2026 highlights
1Q 2026 $22.1B $1.78 $271B highlights Adjusted sales* Adjusted EPS* RTX backlog ▲10% organic* growth ▲21% growth* ▲25% growth ▲14% growth in segment ▲1.14 book-to-bill operating profit* ▲70 bps of consolidated segment margin expansion* Accelerating Production Outlook Investing to ramp critical munit
Slide 4: Performance highlights
Photo: Coyote counter-UAS effector ► Increased PW1100 MRO output by 23% year- over-year Performance highlights ► Ramped total munitions output over 40% year- over-year at Raytheon ► Expanding capacity to meet the demand across DRIVING BEST-IN-CLASS all three segments, including in Columbus, GA PERFO
Slide 5: 1Q 2026 results
ADJUSTED SALES* GAAP EPS $22.1B $1.51 9% $20.3B 1Q 2026 Adjusted growth* ▲32% $1.14 results 10% GAAP Organic growth* 2025 2026 2025 2026 REPORTED SALES ADJUSTED EPS* $20.3B $22.1B $1.78 KEY TAKEAWAYS $1.47 • 10% organic sales growth* CASH FLOW ▲21% Adjusted* ▲6% commercial OE** Operating Free CapEx
Slide 6: RTX 2026 outlook
ADJUSTED SALES* RTX 2026 ▲$92.5B - $93.5B outlook Prior: $92.0B - $93.0B ORGANIC SALES GROWTH %* 5% - 6% Prior: 5% - 6% ADJUSTED EPS* ▲$6.70 - $6.90 Prior: $6.60 - $6.80 FREE CASH FLOW* $8.25B - $8.75B Prior: $8.25B - $8.75B *See Appendix for additional information regarding these non-GAAP financial
Slide 7: Collins Aerospace
HIGHLIGHTS ($ millions) ▲5% ▲6% Collins Adjusted sales* Adjusted operating profit* Aerospace ▲10% • Commercial OE up 15%** • Commercial aftermarket up 7%** • Higher commercial and defense volume • Lower R&D expense Organic sales* • Defense up 9%** • Unfavorable commercial OE mix • Impact of divestit
Slide 8: Pratt & Whitney
HIGHLIGHTS ($ millions) ▲11% ▲21% Pratt & Adjusted sales* Adjusted operating profit* Whitney ▲10% • Commercial OE down 1% • Commercial aftermarket up 19% • Higher commercial aftermarket volume • Higher military volume Organic sales* • Military up 7% • Higher operational costs, including tariffs • Hi
Slide 9: Raytheon
HIGHLIGHTS ($ millions) ▲10% ▲25% $74B Raytheon Adjusted sales* Adjusted operating profit* Backlog ▲9% • Higher volume on land and air defense systems • Favorable program mix • Higher volume • $0.9B Standard Missile and Tomahawk Organic sales* • Higher volume on naval • $0.6B Netherlands Patriot • I
Slide 10: Key takeaways
Key takeaways Strong execution driving financial performance Durable demand for RTX products across end markets Raising 2026 outlook for adjusted sales* and adjusted EPS,* confirming free cash flow* outlook Focused on execution and innovation to drive long-term value for stakeholders *See Appendix f
Slide 11: an RTX
WZ, an RTX
Slide 12: Appendix
Wy ne RTX Appendix
Slide 13: Use and definitions of non-GAAP financial measures
Use and definitions of non-GAAP financial measures NON-GAAP MEASURE DEFINITION RTX Corporation (“RTX” or “the Company”) reports its financial results in accordance Adjusted net sales / Represents consolidated net sales (a GAAP measure), excluding net significant and/or non-recurring items1 (hereinaf
Slide 14: 2026 segment outlook
2026 segment outlook ADJUSTED ADJUSTED SALES ORGANIC SALES OPERATING VPY%* VPY%* PROFIT VPY* ($M) Current Up mid-single digits Up high-single digits $425 - $525 COLLINS AEROSPACE Prior Up mid-single digits Up high-single digits $425 - $525 Current Up mid-single digits Up mid-single digits $225 - $32
Slide 15: Additional 2026 items
Additional 2026 items* FY 2026 Outlook ADJUSTED EFFECTIVE TAX RATE** FAS/CAS OPERATING ADJUSTMENT ~18.0% - 18.5% ~$650M Prior: ~18.0% - 18.5% Prior: ~$650M INTEREST EXPENSE NON-SERVICE PENSION INCOME ~$1,650M ~$1,325M Prior: ~$1,700M Prior: ~$1,325M CORPORATE EXPENSE AND OTHER UNALLOCATED ITEMS CAPE
Slide 16: P&W engine shipments to customers
RTX: P&W engine shipments to customers 2025 2026 Q1 Q2 Q3 Q4 FY Q1 MILITARY 51 40 63 73 227 61 LARGE COMMERCIAL 250 227 266 312 1,055 235 PRATT & WHITNEY CANADA1 518 521 516 571 2,126 497 1Excludes APUs 16
Slide 17: 1Q 2026: RTX free cash flow reconciliation
1Q 2026: RTX free cash flow reconciliation ($ millions) 1Q 2026 NET INCOME $2,157 DEPRECIATION & AMORTIZATION 1,071 CHANGE IN WORKING CAPITAL (1,499) OTHER 126 CASH FLOW FROM OPERATING ACTIVITIES $1,855 CAPITAL EXPENDITURES (546) FREE CASH FLOW $1,309 17
Slide 18: 1Q 2026: RTX sales reconciliation
1Q 2026: RTX sales reconciliation ($ millions) TOTAL ACQUISITIONS & ORGANIC 1Q 2025 ADJUSTED ORGANIC CHANGE AS A % REPORTED FX/OTHER DIVESTITURES CHANGE SALES1 OF ADJUSTED SALES CHANGE COLLINS AEROSPACE $385 ($383) $40 $728 $7,217 10% PRATT & WHITNEY 807 — 37 770 7,366 10% RAYTHEON 605 — 17 588 6,34
Slide 19: RTX: restructuring costs
RTX: restructuring costs ($ MILLIONS) 2026 2025 RESTRUCTURING IMPACT TO: Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 OPERATING PROFIT (LOSS) COLLINS AEROSPACE $9 ($113) ($39) ($17) ($35) ($204) PRATT & WHITNEY (1) (10) (8) — (3) (21) RAYTHEON (4) — (4) — — (4) TOTAL SEGMENT OPERATING PROFIT (LOS
Slide 20: 2025 reported to adjusted
RTX: 2025 reported to adjusted ($ MILLIONS) REPORTED RESTRUCTURING & NET SIGNIFICANT ADJUSTED1 (UNAUDITED) AND/OR NON-RECURRING ITEMS1 (UNAUDITED) NET SALES Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 COLLINS AEROSPACE $7,21
Slide 21: 2026 reported to adjusted
RTX: 2026 reported to adjusted ($ MILLIONS) REPORTED RESTRUCTURING & NET ADJUSTED1 (UNAUDITED) SIGNIFICANT (UNAUDITED) NET SALES Q1 2026 AND/OR NON-RECURRING Q1 2026 Q1 2026 COLLINS AEROSPACE $7,602 $— $7,602 PRATT & WHITNEY 8,173 — 8,173 RAYTHEON 6,945 — 6,945 TOTAL SEGMENT NET SALES 22,720 — 22,72
Slide 22: Reconciliation of GAAP to adjusted: Collins Aerospace
RTX: reconciliation of GAAP to adjusted COLLINS AEROSPACE (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 COLLINS AEROSPACE Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $7,602 $7,217 $7,622 $7,621 $7,736 $30,196 OPERATING PROFIT $1,307 $1,088 $1,173 $1,260 $1,402 $4,923 RESTRUCTURING 9 (
Slide 23: Reconciliation of GAAP to adjusted: Pratt & Whitney
RTX: reconciliation of GAAP to adjusted PRATT & WHITNEY (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 PRATT & WHITNEY Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $8,173 $7,366 $7,631 $8,423 $9,496 $32,916 OPERATING PROFIT $710 $580 $492 $751 $773 $2,596 RESTRUCTURING (1) (10) (8) — (3
Slide 24: Reconciliation of GAAP to adjusted: Raytheon
RTX: reconciliation of GAAP to adjusted RAYTHEON (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 RAYTHEON Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $6,945 $6,340 $7,001 $7,045 $7,657 $28,043 OPERATING PROFIT $841 $678 $805 $859 $885 $3,227 RESTRUCTURING (4) — (4) — — (4) ADJUSTED OPER
Slide 25: Reconciliation of GAAP to adjusted: non-segment operating profit
RTX: reconciliation of GAAP to adjusted NON-SEGMENT OPERATING PROFIT (LOSS) (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 ELIMINATIONS AND OTHER Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES ($644) ($617) ($673) ($611) ($651) ($2,552) OPERATING PROFIT (LOSS) $38 $12 $24 ($14) $32 $54 GA
Slide 26: Reconciliation of GAAP to adjusted: consolidated income, EPS
RTX: reconciliation of GAAP to adjusted CONSOLIDATED INCOME, EARNINGS PER SHARE (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 INCOME (EXPENSES) Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $2,059 $1,535 $1,657 $1,918 $1,622 $6,732 TOTAL RESTRUCTURING
Slide 27: Reconciliation of GAAP to adjusted: segment net sales and operating profit
RTX: reconciliation of GAAP to adjusted SEGMENT NET SALES AND OPERATING PROFIT AND MARGIN (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 INCOME (EXPENSES) Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $22,076 $20,306 $21,581 $22,478 $24,238 $88,603 RECONCILIATION TO SEGMENT NET SALES: EL