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RTX tops Q2 estimates as it wins $22.9B Navy Tomahawk contract
Raytheon Technologies reported adjusted EPS of $1.89, above the $1.66 consensus, alongside 14.5% year-over-year net sales growth to about $24.7 billion.
RTX Corporation delivered results that beat analysts expectations in its Q2 2026 earnings release while securing a major Navy contract. The company reported adjusted earnings per share of $1.89, topping the $1.66 consensus by 23 cents, as net sales rose 14.5% year over year to about $24.71 billion, compared with Wall Street expectations of $22.89 billion.
MarketBeat Ratings linked RTX's performance to a structural shift in defense spending that is increasing procurement of precision munitions and modernizing older fleets. The outlet also highlighted how long-duration defense programs can pair with recurring aftermarket aviation maintenance, supporting earnings visibility.
A key catalyst cited by MarketBeat Ratings was RTX's $22.9 billion agreement with the U.S. Navy for Tomahawk cruise missiles, structured around a seven-year production ramp. The contract is designed to provide revenue visibility into the 2030s, tied to inventory replenishment for maritime and land-strike capabilities.
MarketBeat Ratings added that the Navy award follows a recent $745 million order for advanced missile-defense interceptors within the Raytheon business unit. It also said RTX's guidance was raised after the earnings beat, alongside continued dividend growth.