RTRTXEarnings Analysis财报电话会Source pending来源待核by InvestLog AIInvestLog AI 整理
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RTX earnings call: Finally, we now expect free cash flow to be between $9.0 billion and $9.2 billion for the full year, up from our prior range of $8.5 billion to $8.75 billion driven primarily by EBITDA recovery.雷神技术 (RTX) 电话会：最后，我们预计全年自由现金流在90亿至92亿美元之间，较此前预期的85亿至87.5亿美元区间上调，主要得益于EBITDA复苏。
Management remarks
Call period: 2026 Q3 · 2026-10-20
Guidance: Neil G. Mitchill Jr.: Finally, we now expect free cash flow to be between $9.0 billion and $9.2 billion for the full year, up from our prior range of $8.5 billion to $8.75 billion driven primarily by EBITDA recovery.
Demand and orders: Christopher T. Calio: RTX ended Q3 with another record backlog of $340 billion up 36% year over year and 18% sequentially.
Margins: Neil G. Mitchill Jr.: Segment margins expanded 310 basis points year over year including the benefit of approximately 160 basis points from IEEPA.
Analyst Q&A
Analyst John Godyn asked: I was hoping we could just stay on Pratt for a bit and maybe revisit margins. Obviously, modeling Pratt margins has a lot of moving parts. You had the AIIPA. I am just curious how you guys self assess performance recently, and when we look out to a world where aftermarket trends stay strong, as you described, AOGs are declining, How should we think about the shape of a margin breakout eventually? Management Christopher T. Calio answered: You heard us talk earlier today about the MRO performance. On the 1.1 thousand up 37% year over year. No turnaround time, you know, has come down, and that is with heavier shop visits. So you know, really strong performance from an MRO perspective, which will help drive AOGs down here in the fourth quarter. And then it is really shifting, you know, to the GTFF Advantage and HSP. Those are gonna be the 2, you know, main thrust behind margin expansion in our large commercial engine, you know, business. GTFA is in production today.
