Defense Conglomerate RTX Stock Soars - Q3 Earnings, Buyback, Business Sale And More
Portfolio Pulse from Akanksha Bakshi
RTX Corporation reported a 12% YoY increase in Q3 FY23 adjusted net sales to $18.95 billion, beating the consensus of $18.59 billion. The company also reported a GAAP sales decline of 21% YoY to $13.46 billion. Adjusted EPS improved 3% YoY to $1.25, beating the consensus of $1.21. The company repurchased $1.4 billion of RTX shares and announced a $10 billion accelerated share repurchase program. RTX also announced a definitive agreement to sell its Cybersecurity, Intelligence and Services business for ~$1.3 billion.
October 24, 2023 | 4:33 pm
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RTX Corporation reported strong Q3 FY23 results, beating consensus estimates. The company also announced a $10 billion share repurchase program and the sale of its Cybersecurity, Intelligence and Services business for ~$1.3 billion.
RTX Corporation's strong Q3 FY23 results and the announcement of a $10 billion share repurchase program are likely to have a positive impact on the company's stock. The sale of its Cybersecurity, Intelligence and Services business for ~$1.3 billion could also be viewed positively by investors as it may allow the company to focus on its core operations.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100