RTX Q3: $81B awards on $25B sales is ~3.2x book-to-bill; $340B backlog is ~3.5 years of sales, but FCF fell 47%
RTX, the maker of Raytheon missiles and Pratt & Whitney engines, reported Q3 results Tuesday: $25.0B in sales, a record $340B backlog and another raise to its 2026 outlook.
$81B of new awards on $25B of sales is a ~3.2x book-to-bill. The backlog covers ~3.5 years of the new $97.25B sales midpoint. The catch is free cash flow, down 47% to $2.1B.
https://www.rtx.com/news/news-center/2026/10/20/rtx-reports-q3-2026-results
Sources: RTX 8-K summary: Q3 operating cash flow fell 38% to $2.868B; free cash flow fell 47% to $2.119B · @WOLF_Financial: RTX Q3 revenue $24.97B, adj EPS $2.26, backlog $340B ($176B commercial, $164B defense)
Not financial advice. For informational and educational purposes only.
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