RTX Q1 earnings beat Street estimates

RTX Corp (NYSE: RTX) is trading down in premarket on Tuesday even though it came in ahead of Street estimates for its first financial quarter. 

Why is RTX stock down on Tuesday?

Investors are not entirely satisfied perhaps because the aerospace giant did not raise its guidance for the full year. 

RTX continues to see its sales fall between $78 billion and $79 billion on up to $5.40 of per-share earnings in 2024. Chris Calio - chief operating officer of the New York listed firm said in a press release today:

The multinational ended the quarter with $202 billion of backlog. RTX stock is up roughly 20% versus the start of this year at writing. 

RTX Corp Q1 earnings snapshot

• Earned $1.70 billion versus the year-ago $1.42 billion
• Per-share earnings also jumped from 97 cents to $1.28
• Adjusted EPS printed at $1.34 as per the earnings report
• Sales climbed 12% year-over-year to $19.3 billion 
• Consensus was $1.23 a share on $18.4 billion in revenue

RTX forecasts about $5.7 billion of free cash flow in its fiscal 2024. COO Calio also said on Tuesday: