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RTX Corporation (RTX-1.38%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details RTX's financial performance, reporting total net sales of $80.7 billion, an increase from $68.9 billion in 2023. The increase was driven by higher sales in its Collins Aerospace, Pratt & Whitney, and Raytheon segments.
Operating profit for the year was $6.5 billion, up from $3.6 billion in 2023. This increase was primarily attributed to the absence of charges related to the Powder Metal Matter recorded in the previous year.
Net income from continuing operations attributable to common shareowners was $4.8 billion, compared to $3.2 billion in 2023. Diluted earnings per share from continuing operations were $3.55, up from $2.23 in the prior year.
RTX's backlog increased to $218 billion as of December 31, 2024, from $196 billion at the end of 2023, with significant contributions from commercial and defense contracts.
The company reported cash and cash equivalents of $5.6 billion and total debt of $41.3 billion as of December 31, 2024. The total debt to total capitalization ratio was 40%.
RTX's operating cash flow from continuing operations was $7.2 billion, reflecting strong cash generation capabilities.
The filing also includes information on legal matters, including the resolution of certain investigations and settlements with the Department of Justice and the Securities and Exchange Commission.
RTX disclosed ongoing impacts from geopolitical events, such as sanctions related to Russia's invasion of Ukraine and potential impacts from tariffs announced by the United States.
The company continues to focus on its strategic initiatives, including divestitures and investments in new technologies, to drive future growth and operational efficiencies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the RTX Corporation annual 10-K report dated February 3, 2025. To report an error, please email earnings@qz.com.