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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“on June 30, we agreed to acquire the Simmonds Precision business from RTX Corporation for approximately $765 million in cash. Simmonds Precision is a designer and manufacturer of fuel and proximity sensing and structural health monitoring solutions for the aerospace and defense end markets.”
TransDigm agreed to acquire the Simmonds Precision sensing and monitoring business from RTX Corporation for approximately $765 million, a portfolio carve-out for RTX.
“RTX is the distributed aptra system”
RTX supplies the F-35's distributed aperture system as part of Lockheed's supplier team on the aircraft.
“With Dynamics 365, we took share as organizations like Ecolab, Lenovo, RTX, Total Energies, and Vizient switched to our AI powered apps from legacy providers.”
Microsoft says RTX switched from a legacy provider to Dynamics 365, a competitive win in business applications.
“You're effectively going to be competing with Lockheed and Raytheon, who are two of Aerojet's largest customers.”
An analyst noted that L3Harris's new Wolf Pack munitions program will also position it as a competitor to Raytheon (RTX), another top customer of its Aerojet Rocketdyne missile propulsion business.
“the production of both the LEAP range of engines by CFM and the GTF by Pratt & Whitney are going to be vital to being able to deliver those aircraft”
Pratt & Whitney's GTF engine production rate is a bottleneck management is watching closely, since it is vital to converting Airbus's narrow-body build rate into deliveries, and therefore into Howmet's spares and OE volumes.
“an overarching command and control system, an open architecture standards-based where we can have, whether it's, you know, Northrop Grumman, Raytheon, Lockheed Martin Corporation, other systems, new entrants, will be tied into this fabric and really complete the Golden Dome, so to speak, by doing that”
Lockheed envisions Raytheon's systems being networked alongside its own into an open command-and-control architecture for the Golden Dome missile defense program.
“a negative of $194 million above the line related to the indemnification to RTX because this is related to the three separation time. After that, we have received additional information from RTX and we have toed up the amount by $52 million, and this is the number that you see in GAAP in Q1.”
Otis continues to true up an indemnification obligation owed to former parent RTX Corporation tied to a German tax case dating back to their 2020 spin-off, adding a further $52 million charge in Q1.
“big important suppliers like Pratt Canada, that sell a lot of engines to us in both rotor and fixed wing”
Pratt Canada (Pratt & Whitney Canada, an RTX subsidiary) supplies engines to Textron's Bell and Aviation businesses; flagged as exposed to potential Canada tariff risk.
“Some would argue that RTX's ability to bundle Pratt's propulsion technology with Collins' offering in avionics and structures could provide them with a competitive advantage when bidding for work packages on future aircraft programs.”
An analyst suggested RTX's ability to bundle Pratt & Whitney propulsion with Collins Aerospace avionics/structures could give it a competitive edge over GE Aerospace on future aircraft work packages.
“We still await final approvals from our customer Pratt & Whitney regarding the sign off for tooling to be able to make it high rate.”
Pratt & Whitney has not yet finalized tooling sign-off for high-rate GTF production, leaving the timing of that changeover undetermined.
“We also announced the addition of two new MRO shops with the UAE Sinad Group and Spain's ITP Aero joining the GTF MRO network.”
Spain's ITP Aero is joining Pratt & Whitney's GTF engine MRO network, adding overhaul capacity as GTF shop visits rise.
“We also announced the addition of two new MRO shops with the UAE Sinad Group and Spain's ITP Aero joining the GTF MRO network.”
The UAE's Sinad Group is joining Pratt & Whitney's GTF engine MRO network, expanding overhaul capacity for the GTF fleet.
“We've talked at length for a number of years about the mix in the OE and balancing the need to support the flying fleet today as well as installs in Airbus.”
RTX's Pratt & Whitney is balancing GTF engine deliveries between MRO spares and new installs on Airbus aircraft, a read-through for Airbus narrowbody production rates.
“We're going to continue to work very closely with Airbus to make sure that they have what they need down the stretch of the year”
RTX is coordinating engine/material deliveries to help Airbus hit its full-year aircraft delivery targets.
“Recall, last year included the impact of the Boeing work stoppage in the quarter.”
RTX notes prior-year Collins commercial OE was depressed by Boeing's work stoppage, a read-through on Boeing's past production disruption.
“As it relates to the Boeing ramp, first of all, really pleased to see the approval and ability to go to a higher rate on 737.”
RTX (Collins) frames Boeing's approval to raise 737 production rates positively, signaling recovering OE demand at its airframer customer.
“Think MTU, think Pratt, think Delta, those are the shops that continue to drive output to drive material into the shop, into shrink the in-shop turn time that I referenced earlier.”
Delta, via Delta TechOps, is named among RTX's key GTF engine MRO shop network partners, alongside MTU and Pratt's own shops, driving output and reducing in-shop turnaround time.
“So maybe just based on GE commentary last week, they're extending their shop visit peak as well.”
An analyst references GE Aerospace's own commentary (from GE's earnings call the prior week) that its engine shop-visit peak is extending, using it as a comparison point for Pratt & Whitney's aftermarket cycle.
“And on the engine side, it really is still about allocating material between MRO and production. And we work closely with Airbus in doing that because we've got to make sure that we balance the continued ramp there, especially as it relates to structural castings and isothermal forgings with what we need on the MRO side”
RTX (Pratt) works closely with Airbus to balance engine production output against MRO material needs (structural castings, isothermal forgings) as the A320 ramp continues following a Q2 work stoppage.
“I think we are seeing stability in the rates at Boeing, they continue to grow with the focus there on the production system.”
RTX's CEO says Boeing's narrow-body and wide-body production rates are stabilizing and growing, a positive read-through for Collins' and Pratt's commercial OE volumes.
“Also in the quarter, Raytheon announced the collaboration with Kongsberg to co-develop subassemblies of the GhostEye radar.”
Raytheon and Norwegian defense firm Kongsberg are co-developing subassemblies of the GhostEye radar, extending Raytheon's European regional-partnership strategy for integrated air and missile defense.
“Earlier this month, we announced a new partnership with Shield AI to integrate AI-based sensor and target recognition capabilities and to select Raytheon products.”
Raytheon partnered with defense-tech startup Shield AI to integrate AI-based sensor and target-recognition capabilities into select Raytheon munitions and sensor products, including loitering munitions and its multispectral targeting system.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Scott Deuschle | Deutsche Bank | 7 (29%) |
| Gautam Khanna | TD Cowen | 6 (0%) |
| Rob Stallard | Vertical Research Partners | 6 (33%) |
| Sheila Kahyaoglu | Jefferies | 6 (50%) |
| Peter Arment | Robert W. Baird | 6 (0%) |
| Scott Mikus | Melius Research | 6 (17%) |
| Myles Walton | Wolfe Research | 6 (17%) |
| Seth Seifman | JPMorgan | 6 (0%) |
| Kristine Liwag | Morgan Stanley | 5 (0%) |
| Ron Epstein | Bank of America | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Deutsche Bank | 1 | 7 (29%) |
| TD Cowen | 1 | 6 (0%) |
| Bank of America | 2 | 6 (0%) |
| Robert W. Baird | 1 |
| 6 (0%) |
| Melius Research | 1 | 6 (17%) |
| Jefferies | 1 | 6 (50%) |
| JPMorgan | 1 | 6 (0%) |
| Vertical Research Partners | 1 | 6 (33%) |
RTX closed FY2025 with record full-year performance delivering 11% organic growth, adjusted EPS of $6.29, and record backlog of $268 billion up 23%. GTF MRO output grew 26% for the full year with AOGs down 20%+ from peak, and Raytheon achieved 130 basis points of margin expansion. Management introduced FY2026 guidance of $6.60-$6.80 adjusted EPS with $8.25-$8.75 billion in free cash flow.
Demand | Margin | Supply Chain | Trade Tariffs | Revenue Growth | Cost Pressure | Guidance Reliability | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 6 | 2 | 3 | 3 | 3 | 1 | |
| 2025Q1 | 6 | 2 | 5 | 6 | 2 | 1 | ||
| 2025Q2 | 6 | 4 | 4 | 3 | 2 | 2 | 1 | |
| 2025Q3 | 7 | 5 | 1 | 1 | 2 | 1 | 2 | 3 |
| 2025Q4 | 4 | 4 | 3 | 1 | 1 | 1 | 2 | 4 |
| 2026Q1 | 7 | 3 | 3 | 1 | 2 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 6 | 6 | 6 | 7 | 4 | 7 |
| Margin | 6 | 2 | 4 | 5 | 4 | 3 |
| Supply Chain | 2 | 5 | 4 | 1 | 3 | 3 |
| Trade Tariffs | 6 | 3 | 1 | 1 | 1 | |
| Revenue Growth | 3 | 2 | 2 | 1 | 2 | |
| Cost Pressure | 3 | 2 | 2 | 1 | 1 | 1 |
| Guidance Reliability | 3 | 1 | 2 | 2 | 1 | |
| Capital Allocation | 1 | 1 | 3 | 4 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
RTX RTX Corporation | 9 | +8.7% | |
| AXON Axon Enterprise Inc. | 10 | +33.8% | |
| BA The Boeing Company | 7 | +14.0% | |
| GD General Dynamics | 8 | +10.3% | |
| GE GE Aerospace | 7 | +24.7% | |
| HII Huntington Ingalls Industries | 6 | +13.3% | |
| LHX L3Harris | 8 | +11.9% | |
| LMT Lockheed Martin | 4 | +0.3% | |
| NOC Northrop Grumman | 6 | +4.4% | |
| RKLB Rocket Lab USA, Inc. | 8 | +63.5% | |
| TDG TransDigm Group | 10 | +18.3% | |
| TXT Textron | 7 | +11.8% |