Raytheon (RTX) official guidance

•Adjusted EPS* of $7.65 - $7.75, up from $7.10 - $7.25

We now see adjusted EPS of between $7.10 and $7.25 for the full year, up from our prior range of $6.70-$6.90.

•Adjusted EPS* of $7.10 - $7.25, up from $6.70 - $6.90

We now see adjusted EPS of between $6.70 and $6.90 for the full year, up from our prior range of $6.60-$6.80.

Adjusted EPS* of $6.70 - $6.90, up from $6.60 - $6.80

We expect adjusted EPS to be between $6.60 and $6.80, with between $8.25 billion-$8.75 billion of free cash flow for the year.

Adjusted EPS\* of $6.60 - $6.80

•Free cash flow* of $9.0 - $9.2 billion, up from $8.50 - $8.75 billion

Finally, we now expect free cash flow to be between $8.5 billion and $8.75 billion for the full year, up from our prior range of $8.25 billion-$8.75 billion, primarily driven by higher segment operating profit.

•Free cash flow* of $8.50 - $8.75 billion, up from $8.25 - $8.75 billion

On free cash flow, we remain on track to our outlook of between $8.25 billion-$8.75 billion for the full year.

Confirms free cash flow* of $8.25 - $8.75 billion

We expect adjusted EPS to be between $6.60 and $6.80, with between $8.25 billion-$8.75 billion of free cash flow for the year.

Free cash flow\* of $8.25 - $8.75 billion

With respect to operating profit, we now expect growth between $550 million and $625 million versus 2025, up from our prior expectation of between $425 million and $525 million, driven by drop-through on increased sales volume and ongoing cost-reduction initiatives.

With respect to Collins' adjusted operating profit, we expect it to grow between $425 million and $525 million versus the prior year.

With respect to operating profit, we now expect growth between $275 million and $350 million versus 2025, up from our prior expectation of between $225 million and $325 million, primarily driven by drop-through on increased sales volume.

For Pratt's adjusted operating profit, we expect growth of between $225 million and $325 million versus the prior year.

Organically, we now expect high single-digit to low double-digit growth, up from our prior range of high single-digit.

Turning to Collins' full-year outlook, we continue to expect sales to grow mid-single digits on an adjusted basis and high single digits organically.

Starting with Collins, we expect full-year sales to be up mid-single digits on an adjusted basis and up high single digits organically.

Turning to Pratt's full-year outlook, we now expect sales to grow high single digits on both an adjusted and organic basis, up from our prior range of mid-single digits due to the strength in commercial aftermarket, partially offset by commercial OE mix.

Turning to Pratt's full year outlook, we continue to expect sales to grow mid-single digits on an adjusted and organic basis, with operating profit growth between $225 million and $325 million versus 2025.

Turning to Raytheon's full-year outlook, we now expect sales to grow high single digits to low double digits on an adjusted and organic basis. This is up from our prior range of high single digits due to the strength Neil mentioned.

Turning to Raytheon's full year outlook, we expect sales to grow high single digits on an adjusted and organic basis, up from our prior range of mid to high single digits due to the strength Neil mentioned earlier.

•Organic sales growth* of 10 to 11 percent, up from 8 to 9 percent

This translates to full-year RTX organic sales growth of between 8% and 9%, up from our prior range of between 5%-6%.

•Organic sales growth* of 8 to 9 percent, up from 5 to 6 percent

We continue to expect this to translate to between 5% and 6% organic sales growth for the full year at the RTX level.

Organic sales growth* of 5 to 6 percent

For 2026, we expect Adjusted Sales to be between $92 billion and $93 billion, with 5%-6% organic growth year-over-year.

Organic sales growth\* of 5 to 6 percent

•Adjusted sales* of $97.0 - $97.5 billion, up from $95.0 - $96.0 billion

On the top line, we're raising our full-year adjusted sales outlook by $2.5 billion to a new range of $95 billion-$96 billion, up from our prior range of $92.5 billion-$93.5 billion.

•Adjusted sales* of $95.0 - $96.0 billion, up from $92.5 - $93.5 billion

On the top line, we're raising our full year adjusted sales outlook by $500 million to a new range of $92.5 billion-$93.5 billion, up from our prior range of $92 billion-$93 billion, driven by the performance we saw at Raytheon in the first quarter, as well as slightly lower sales eliminations for the year.

Adjusted sales* of $92.5 - $93.5 billion, up from $92.0 - $93.0 billion

For 2026, we expect Adjusted Sales to be between $92 billion and $93 billion, with 5%-6% organic growth year-over-year.

Adjusted sales\* of $92.0 to $93.0 billion

Turning to Collins' full-year outlook, based on the continued commercial OE production ramp and defense strength, we now expect sales to grow mid- to high single digits on an adjusted basis, up from our prior range of mid-single digits.

Turning to Collins' full-year outlook, we continue to expect sales to grow mid-single digits on an adjusted basis and high single digits organically.

Starting with Collins, we expect full-year sales to be up mid-single digits on an adjusted basis and up high single digits organically.

Turning to Pratt's full-year outlook, we now expect sales to grow high single digits on both an adjusted and organic basis, up from our prior range of mid-single digits due to the strength in commercial aftermarket, partially offset by commercial OE mix.

Shifting to Pratt & Whitney, we expect full-year sales to be up mid-single digits on both an adjusted and organic basis.

Turning to Raytheon, we expect sales to grow mid- to high-single digits on both an adjusted and organic basis, principally driven by growth across land and air defense systems.

Within the commercial aftermarket, we now expect sales to grow low double-digits across the company this year, up from our prior expectation of high-single-digits driven by the strength of Pratt that I mentioned earlier.

Breaking this down further, we continue to expect commercial OE sales to grow mid-single digits and commercial aftermarket sales to grow high single-digits for the full year.

By sales channel at the RTX level and adjusting for divestitures, we expect both commercial OE and defense to grow mid-single digits and commercial aftermarket to be up high single digits.

Breaking this down further, we now expect commercial OE sales to grow mid- to high-single-digits, up from the prior expectation of mid-single-digits, primarily attributable to the production ramp at Collins.

Breaking this down further, we continue to expect commercial OE sales to grow mid-single digits and commercial aftermarket sales to grow high single-digits for the full year.

By sales channel at the RTX level and adjusting for divestitures, we expect both commercial OE and defense to grow mid-single digits and commercial aftermarket to be up high single digits.

With respect to defense sales, we now see growth of high-single-digits, which is at the higher end of our prior range of mid- to high-single-digits.

Given the increase at Raytheon, we now expect defense sales to grow mid to high single digits for the full year, up from our prior expectation of mid-single digits.

By sales channel at the RTX level and adjusting for divestitures, we expect both commercial OE and defense to grow mid-single digits and commercial aftermarket to be up high single digits.