RTX stock blasts off after topping Q2 earnings forecast

Shares of RTX (RTX), formerly Raytheon Technologies, are rising after the aerospace and defense contractor posted better-than-expected second quarter earnings and lifted its full-year guidance.

Market Domination Hosts Julie Hyman and Josh Lipton dig into the company's earnings and how it stacks up to other names in the defense sector, like Lockheed Martin (LMT)

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Melanie Riehl

Video Transcript

Rt X shares rip and hire right now after the company posted better than expected Q two earnings company also lifting its full year guidance.

So, uh, RT X, maker of jet engines, Patriot missile defence systems uh, second quarter results beat expectations.

They raised the full year forecast for adjusted earnings.

Um, tell that they did lower their forecast for free cash flow.

Um, but reading through reports, they noted that this is because of the expected resolution of legacy legal matters, among other reasons.

Um, relatively new CEO here.

Julie Chris Calio took over in May from long time CEO Greg Hayes, who is still executive chairman.

Company, has been making some moves with its portfolio looking to reduce debt and and a nice run for the stock.

Yeah, it's up 36% so far this year, including the gains that we're seeing here today with the strength of defence, which is, you know, we've been, uh, Lockheed Martin the other day, also coming out, I believe in meeting estimates.

So now, a little bit of a trend here among the defence companies