RTX and Northrop Grumman raise 2026 profit forecasts as backlogs reach records
RTX reported a US$340 billion backlog and Northrop Grumman a US$109.6 billion backlog; GE Aerospace also lifted its forecast.
RTX and Northrop Grumman both raised their full-year profit forecasts on Tuesday 20 October after reporting third-quarter results.
RTX said sales rose 11% to US$25.0 billion and adjusted earnings were US$2.26 a share, up 33% from a year earlier. Its backlog reached a record US$340 billion, including US$164 billion in defence, after US$81 billion in new awards. It raised its 2026 adjusted earnings forecast to US$7.65 to US$7.75 a share, from US$7.10 to US$7.25, and its sales forecast to US$97.0 billion to US$97.5 billion.
“Demand for our products remains robust,” RTX chief executive Chris Calio said in the release. The company said sales at its Raytheon unit rose 14%, driven by naval programs and air defence systems including Patriot, Standard Missile and Tomahawk.
Northrop Grumman reported earnings of US$7.89 a share on revenue of US$11.12 billion, according to CNBC, which said revenue was slightly below the analyst consensus. Reuters reported that Northrop’s backlog rose to a record US$109.6 billion and that it raised its 2026 adjusted earnings forecast to US$29.35 to US$29.75 a share.
GE Aerospace also raised its 2026 earnings forecast, to US$8.00 to US$8.10 a share, Reuters said. Its shares fell, while Northrop’s rose nearly 5% by midday, according to CNBC.
Sources
- RTX Reports Q3 2026 Results · RTX
- Aerospace and military contractors raise 2026 profit forecasts · Reuters via Investing.com
- Stocks making the biggest moves midday: HAS, NOC, EFX, GM · CNBC
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