Profits Crater at RTX -- but It's Not All Bad News
RTXRaytheon Technologies(RTX) The Motley Fool·2024-08-07 19:45

RTX's legacy defense business was about the only thing that went wrong in Q2 for the company that used to be called Raytheon.RTX (RTX -0.67%), the giant aerospace conglomerate formed by the merger of the Raytheon defense company and United Technologies' airplane business, reported miserable earnings last week. Despite sales growing 8% year over year, RTX suffered a steep 91% collapse in second-quarter earnings, reporting just $0.08 per share. And yet, despite the bad news, RTX stock is up more than 9% since ...