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RTX finishes 2024 strong, eyes continued growth in 2025

By Jeremiah Cushman |

A Pratt & Whitney F135 conventional take-off and landing (CTOL) engine in afterburner on a test stand. (P&W)

RTX saw strong performance in 2024 and anticipates further growth in 2025, Christopher Calio, president and CEO of RTX, said in an earnings call on 28 January. The company recorded USD80.8 billion in adjusted sales, 11% organic growth over 2023, driven by 14% growth in commercial original equipment, 13% in commercial aftermarket, and 9% in defence, he added.

Demand remains robust, with the company recording USD112 billion in new awards in 2024 and ending the year with a backlog of more than USD218 billion, up 11% year on year, Calio said. Commercial backlog reached USD125 billion, while defence totalled a “record USD93 billion”, he added.

In the fourth quarter of 2024, RTX achieved adjusted sales of USD21.6 billion or 9% adjusted growth. Growth was led by commercial aftermarket, up 15%, and defence, which was up 10% organically, Neil Mitchill Jr, chief financial officer for RTX, said during the call. Commercial original equipment saw 10% growth.

Free cash flow totalled USD492 million, bringing the total for the year to USD4.5 billion. The figure was affected by USD2.6 billion in costs related to legal matters, powder metal issues with Pratt & Whitney engines, and a previously disclosed contract issue, Mitchill added.

Segment results

In the fourth quarter, Collins Aerospace recorded USD7.5 billion in adjusted sales for 8% growth, including 13% growth in defence, attributed to higher volume over several programmes, Nathan Ware, vice-president of investor relations at RTX, said during the call. Over 2024 Collins Aerospace generated USD28.3 billion of adjusted sales.

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