Core Viewpoint - Raytheon has entered into five significant framework agreements with the U.S. Department of War to enhance production capacity and expedite deliveries of various missile systems, including Tomahawk and AMRAAM, in response to growing global demand for precision munitions [1][2]. Group 1: Production Capacity and Agreements - The agreements will last up to seven years and aim to increase annual production of Tomahawk missiles to over 1,000, AMRAAM missiles to at least 1,900, and SM-6 missiles to more than 500, with many munitions expected to grow 2 to 4 times their current production rates [2]. - RTX plans to accelerate production of SM-3 IIA and SM-3 IB interceptors as part of these agreements [2][4]. Group 2: Investment and Economic Impact - The Department of War's commitment to strengthening the defense industrial base will enable RTX to invest in technology, facilities, and workforce to sustain high production rates [3]. - Investments related to these agreements have been factored into RTX's financial outlook for 2026, incorporating a collaborative funding approach to maintain free cash flow for long-term demand [5]. Group 3: Strategic Importance of Munitions - The Tomahawk cruise missile is a precision weapon capable of striking targets from 1,000 miles away and has been used operationally over 2,300 times [6]. - AMRAAM is the most widely deployed air-to-air missile, with production nearly doubling in 2025 and proven performance through over 6,000 test shots [7]. - SM-3 IB is designed for exo-atmospheric intercept of ballistic missiles and was first used in combat in April 2024 [8]. - SM-3 IIA features enhanced capabilities for faster engagement of threats and broader regional protection [9]. - SM-6 supports multiple warfare roles and has been successfully launched from various U.S. Navy platforms [10].

WEST PALM BEACH, Fla., Feb. 03, 2026 (GLOBE NEWSWIRE) -- Solitron Devices, Inc. (OTC Pink: SODI) (“Solitron” or the “Company”) is announcing that the Company’s Board of Directors has set April 24, 2026 as its annual meeting date and has decided to pursue the exploration of potential transactions including merger or sale opportunities. Solitron’s annual meeting has typically been held in January. The delay in the meeting was due to Solitron receiving an unsolicited non-binding acquisition proposal that we t ...

RTX (NYSE:RTX) Q4 2025 Earnings call January 27, 2026 08:30 AM ET Company ParticipantsChris Calio - Chairman and CEOKristine Liwag - Executive Director and Head of Aerospace and Defense Equity ResearchNathan Ware - VP of Investor RelationsNeil Mitchill - CFOScott Mikus - Director of Aerospace, Defense, and Space ResearchSheila Kahyaoglu - Managing Director in Equity ResearchConference Call ParticipantsDoug Harned - Managing Director and Senior AnalystGautam Khanna - Managing Director and Senior AnalystJason ...

Earnings conference call 4th quarter 2025 January 27, 2026 © 2026 RTX Corporation. All rights reserved. Forward looking statements Note: This investor webcast presentation contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide RTX Corporation ("RTX") management's current expectations or plans for our future operating and financial performance, b ...

Financial Data and Key Metrics Changes - Adjusted sales for Q3 were $22.5 billion, up 12% on an adjusted basis and 13% organically year over year [14] - Adjusted segment operating profit increased to $2.8 billion, up 19% year over year, with a consolidated segment margin expansion of 70 basis points [14] - Free cash flow was robust at $4 billion for the quarter, contributing to a full-year outlook of $7 billion to $7.5 billion [15][18] Business Line Data and Key Metrics Changes - Collins sales were $7.6 billion, up 8% adjusted and 11% organically, driven by commercial OE sales up 16% and aftermarket sales up 13% [20] - Pratt's sales reached $8.4 billion, up 16% on both an adjusted and organic basis, with commercial OE sales up 5% and military engine sales up 15% [22][24] - Raytheon reported sales of $7 billion, up 10% on both an adjusted and organic basis, with adjusted operating profit of $859 million, up $198 million year over year [24][25] Market Data and Key Metrics Changes - The book-to-bill ratio for the quarter was 1.63, resulting in a backlog of $251 billion, up 13% year over year [7][28] - New awards in the quarter totaled $37 billion, with $23 billion in defense and $14 billion in commercial orders [7] Company Strategy and Development Direction - The company is focused on executing commitments and driving performance improvements through its core operating system, achieving 10% organic sales growth while keeping headcount flat [8] - Strategic investments include over $600 million in capacity expansion projects, with Raytheon investing $300 million to support growing demand [10] - The company is innovating for future growth, including a hybrid-electric propulsion demonstrator for regional aircraft and next-generation braking systems for the A321XLR [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued strength of global demand for products and services, particularly in commercial aerospace, with passenger air travel expected to grow approximately 5% this year [4] - The full-year adjusted sales outlook has been raised to a range of $86.5 billion to $87 billion, reflecting strong operational performance and market demand [16] - Management anticipates continued top-line growth, margin expansion, and solid free cash flow conversion beyond this year [19] Other Important Information - The company completed the sale of its actuation business and the Collins Simmons Precision Products business for $765 million [15] - The company is strategically using data analytics and AI tools to improve productivity and decision-making across its operations [12] Q&A Session Summary Question: Confidence in delivering LEAP engines to Airbus - Management expressed strong confidence in meeting delivery targets for LEAP engines, citing robust production ramp-up and collaboration with Airbus [32][38] Question: Limitations to growth in Raytheon segment - Management highlighted strong demand and a book-to-bill ratio of 2.27, but emphasized the need for a healthy supply chain to meet production increases [44][45] Question: Margins in Collins - Management noted that tariffs were a significant headwind affecting margins, with efforts underway to mitigate these impacts [85] Question: Top line and bottom line dynamics in Pratt - Management clarified that the uptick in revenue outlook for Pratt was driven by a mix of spare engines and increased defense contracts, with expectations for continued MRO output growth [90] Question: GTF compensation payments and AOG levels - Management confirmed that the financial outlook for GTF compensation payments remains consistent, with no changes to the expected timing for reduced AOG levels [80] Question: Future margin expectations for Raytheon - Management indicated that while current margins are strong, further upside is contingent on supply chain health and production ramp-up capabilities [114]

Financial Data and Key Metrics Changes - Adjusted sales for Q3 were $22.5 billion, up 12% on an adjusted basis and 13% organically year over year [14] - Adjusted segment operating profit increased by 19% year over year to $2.8 billion, with a consolidated segment margin expansion of 70 basis points [14] - Free cash flow was robust at $4 billion for the quarter, contributing to a full-year outlook of $7 to $7.5 billion [15][18] Business Line Data and Key Metrics Changes - Collins Aerospace reported sales of $7.6 billion, up 8% adjusted and 11% organically, driven by commercial OE sales up 16% and aftermarket sales up 13% [20] - Pratt & Whitney's sales reached $8.4 billion, up 16% on both an adjusted and organic basis, with commercial OE sales up 5% and military engine sales up 15% [22][24] - Raytheon achieved sales of $7 billion, up 10% on both an adjusted and organic basis, with a book to bill ratio of 2.27 and a record backlog of $72 billion [25][26] Market Data and Key Metrics Changes - Global demand for commercial aerospace products remains strong, with passenger air travel projected to grow approximately 5% this year [3] - The defense sector is experiencing increased demand, particularly for munitions and integrated air and missile defense systems [4] Company Strategy and Development Direction - The company is focused on executing commitments and driving performance improvements through its core operating system, resulting in six consecutive quarters of year-over-year adjusted segment margin expansion [7] - Investments of over $600 million in capacity expansion projects are planned to support growth, including a $300 million investment at Raytheon [10] - The company is innovating for future growth, with initiatives such as a hybrid-electric propulsion demonstrator for regional aircraft and advancements in braking systems for the A321XLR [11] Management's Comments on Operating Environment and Future Outlook - Management raised the full-year adjusted sales outlook to a range of $86.5 billion to $87 billion, reflecting strong operational performance and end market strength [16] - The company expects continued top-line growth, margin expansion, and solid free cash flow conversion beyond this year [19] - Management remains confident in meeting the growing needs of U.S. and international customers in the defense sector [4] Other Important Information - The company completed the sale of its actuation business and the Collins Simmons Precision Products business for $765 million [15] - The backlog now stands at $251 billion, up 13% year over year, indicating exceptional demand for products and technologies [5][29] Q&A Session Summary Question: Confidence in delivering LEAP engines to Airbus - Management expressed confidence in executing deliveries and supporting production ramps for Airbus, with a focus on balancing material allocation [34][39] Question: Limitations to growth in Raytheon segment - Management highlighted strong demand and a focus on capacity investments, with ongoing efforts to ensure supply chain health to meet production needs [51][52] Question: Margins in Collins and tariff impacts - Management noted that Collins faced about $90 million in headwinds from tariffs, impacting margins, but efforts are underway to mitigate these effects [96] Question: Expectations for GTF compensation payments - Management confirmed that the financial outlook for GTF compensation payments remains consistent, with no changes to the timing of expected reductions in AOG levels [93] Question: Incremental margins in Collins - Management acknowledged that incremental margins were impacted by tariffs, but the team is working to improve productivity and mitigate these headwinds [96]

Core Insights - Raytheon and the U.S. Air Force successfully conducted the longest known AMRAAM air-to-air missile shot by a fifth-generation fighter, showcasing the missile's extended time of flight capability [1][2]. Group 1: AMRAAM Missile Performance - The tests demonstrated that AMRAAM can significantly enhance the lethality of fifth-generation aircraft, a result of the U.S. Air Force's form, fit, function refresh (F3R) development effort and Raytheon's investment in AMRAAM's research and development [2]. - AMRAAM has been a trusted air dominance weapon for over 30 years, integrated on 14 platforms across 43 countries, with more than 6,000 successful live fires and near-perfect success in active conflicts [3]. Group 2: Industry Context - Achieving air superiority in future contested battlespaces relies on the precision and lethality of air-to-air missiles, with AMRAAM recognized as the gold standard in the air dominance arena [3]. - Raytheon, as part of RTX, is a leading provider of defense solutions, focusing on integrated air and missile defense, smart weapons, and advanced sensors, among other technologies [5]. - RTX is the world's largest aerospace and defense company, with over 185,000 employees and 2024 sales exceeding $80 billion, advancing technology and integrated defense systems [6].

Summary of RTX FY Conference Call - September 10, 2025 Company Overview - **Company**: RTX (NYSE: RTX) - **Industry**: Aerospace and Defense Key Points and Arguments Company Performance and Resilience - RTX has demonstrated strong organizational resilience and adaptability in response to unexpected challenges such as tariffs, regulatory changes, supplier fires, and a four-week strike at Pratt & Whitney [3][4] - Organic sales increased by 8% in the first half of the year, supported by a robust demand signal and a backlog of $236 billion [4][5] Investment and Growth Strategy - RTX plans to invest $10 billion in research and development (E&D) and capital expenditures (CapEx) in 2025, focusing on new products and long-term technologies [5] - The company is committed to long-term growth, with a focus on executing its backlog and ensuring timely delivery to customers [4][5] Market Trends and Demand - The consumer market remains resilient, with solid household balance sheets contributing to continued growth in revenue passenger kilometers (RPKs) and aftermarket services [6][8] - The aerospace sector is expected to see demand for approximately 40,000 new aircraft over the next 20 years, indicating significant growth potential [10][11] Defense Sector Insights - RTX is well-positioned to meet the increasing demand for defense capabilities, particularly in light of global threats and the evolving defense landscape [11][15] - The U.S. defense budget is expected to grow, with a focus on munitions and homeland defense, providing a favorable environment for RTX's defense products [15][16] Backlog and Production Capacity - RTX's defense backlog stands at nearly $64 billion, with plans to double production on key programs such as GEM-T, AMRAAM, and Coyote in 2025 [19][20] - The company has invested approximately $1 billion in capacity increases since 2020, with an additional $300 million planned for 2025 [20] Commercial Aerospace Outlook - The commercial aftermarket saw an 18% year-over-year increase in the first half of 2025, with strong performance from Collins and Pratt & Whitney [28][30] - The GTF Advantage engine has received certification and is undergoing aircraft certification testing, expected to enhance performance and fuel efficiency [35] Financial Outlook and Capital Allocation - RTX anticipates free cash flow of around $8.5 billion for 2025, driven by strong demand in both commercial and defense sectors [42][44] - The company is on track to return $37 billion to shareholders by year-end 2025, with a focus on debt reduction and dividend growth [46][47] Strategic Partnerships and Innovation - RTX Ventures Fund has made approximately 20 investments, focusing on partnerships with emerging defense tech companies to enhance product offerings [26] - The company is exploring ways to apply commercial contracting principles to the defense sector to improve efficiency and output [49][50] Future Outlook - RTX is optimistic about its positioning in both commercial and defense markets, emphasizing execution and delivery on its substantial backlog of $236 billion [51] Additional Important Insights - The company is actively monitoring supply chain health and is focused on ensuring that suppliers are aligned with demand [9][10] - RTX is committed to leveraging its extensive installed base and technological advancements to maintain a competitive edge in the evolving defense landscape [24][25]