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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Scott Deuschle | Deutsche Bank | 10 questions · 20% challenging |
| Myles Walton | Wolfe Research | 9 questions · 11% challenging |
| Gautam Khanna | TD Cowen | 9 questions · 0% challenging |
| Seth Seifman | JPMorgan | 8 questions · 0% challenging |
| Peter Arment | Robert W. Baird | 8 questions · 0% challenging |
| Scott Mikus | Melius Research | 8 questions · 13% challenging |
| Sheila Kahyaoglu | Jefferies | 8 questions · 38% challenging |
| Ron Epstein | Bank of America | 8 questions · 0% challenging |
| Rob Stallard | Vertical Research Partners | 8 questions · 25% challenging |
| Kristine Liwag | Morgan Stanley | 6 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Deutsche Bank | 1 analyst | 10 questions · 20% challenging |
| Bank of America | 2 analysts | 9 questions · 0% challenging |
| TD Cowen | 1 analyst | 9 questions · 0% challenging |
| Wolfe Research | 1 analyst | 9 questions · 11% challenging |
| Melius Research | 1 analyst | 8 questions · 13% challenging |
| Jefferies | 1 analyst | 8 questions · 38% challenging |
| Robert W. Baird | 1 analyst | 8 questions · 0% challenging |
| JPMorgan | 1 analyst | 8 questions · 0% challenging |
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RTX delivered Q1 adjusted sales of $22.1 billion, up 10% organically, with adjusted EPS of $1.78 growing 21% year-over-year. Record backlog reached $271 billion, up 25%, and Raytheon munitions output surged over 40%. Management raised FY2026 EPS guidance from $6.60-$6.80 to $6.70-$6.90 and sales by $500 million, as defense framework agreements signaled long-term demand.
Demand | Margin | Supply Chain | Revenue Growth | Trade Tariffs | Guidance Reliability | Capital Allocation | Cost Pressure | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 6 | 2 | 3 | 3 | 1 | 3 | |
| 2025Q1 | 6 | 2 | 5 | 6 | 1 | 2 | ||
| 2025Q2 | 6 | 4 | 4 | 2 | 3 | 1 | 2 | |
| 2025Q3 | 7 | 5 | 1 | 2 | 1 | 2 | 3 | 1 |
| 2025Q4 | 4 | 4 | 3 | 1 | 1 | 2 | 4 | 1 |
| 2026Q1 | 7 | 3 | 3 | 2 | 1 | 1 | 1 | |
| 2026Q2 | 6 | 3 | 2 | 3 | 1 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Demand | 6 | 6 | 6 | 7 | 4 | 7 | 6 |
| Margin | 6 | 2 | 4 | 5 | 4 | 3 | 3 |
| Supply Chain | 2 | 5 | 4 | 1 | 3 | 3 | 2 |
| Revenue Growth | 3 | 2 | 2 | 1 | 2 | 3 | |
| Trade Tariffs | 6 | 3 | 1 | 1 | 1 | 1 | |
| Guidance Reliability | 3 | 1 | 2 | 2 | 1 | 1 | |
| Capital Allocation | 1 | 1 | 3 | 4 | 1 | ||
| Cost Pressure | 3 | 2 | 2 | 1 | 1 | 1 |
Calendar quarter Q1 2026Earnings call Apr 21, 2026
FY2026 Q1 in brief
RTX delivered Q1 adjusted sales of $22.1 billion, up 10% organically, with adjusted EPS of $1.78 growing 21% year-over-year.
Newest quarter FY2026 Q3 is part of Pro · see what Pro adds →
GAAP revenue YoY +8.72% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for RTX Corporation (RTX), FY2026 Q1: 9/10. Scores: RTX Corporation’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: RTX daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $21.62B | +8.5% | $1.10 | +4.8% | 9.8% | 6.9% | $492M |
| FY2025 Q1 | $20.31B | +5.2% | $1.14 | -10.9% | 10.0% | 7.6% | $792M |
| FY2025 Q2 | $21.58B | +9.4% | $1.22 | +1425.0% | 9.9% | 7.7% | $-72M |
| FY2025 Q3 | $22.48B | +11.9% | $1.41 | +29.4% | 11.2% | 8.5% | $4.03B |
| FY2025 Q4 | $24.24B | +12.1% | $1.19 | +8.2% | 10.7% | 6.7% | $3.19B |
| FY2026 Q1Selected | $22.08B | +8.7% | $1.51 | +32.5% | 11.6% | 9.3% | $1.31B |
| FY2026 Q2 | $24.71B | +14.5% | $1.57 | +28.7% | 11.4% | 8.7% | $2.88B |
| FY2026 Q3 | $24.96B | +11.1% | $1.89 | +34.0% | 13.4% | 10.3% | $2.12B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What RTX said about other companies on its FY2026 Q1 call, and what other companies said about RTX on their calls covering the same calendar quarter (Q1 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Rocket Lab and Raytheon have been selected to demonstrate advanced capabilities for the space-based Interceptor program.”
Rocket Lab and Raytheon were jointly selected for the Golden Dome Space-Based Interceptor program, teaming Rocket Lab with RTX on a marquee missile-defense demonstration.
“as a supplier providing the solid rocket motors, you know, to the two major primes, Lockheed Martin and Raytheon specifically”
L3Harris supplies solid rocket motors to Raytheon (RTX) as a subcontractor on Munitions Acceleration Council programs, implying strong missile/munitions demand at Raytheon.
“Anduril is looking to raise capital at a $60 billion valuation.”
Analyst cited Anduril's $60B target valuation among defense-tech startups competing with RTX for talent and defense budget share.
“We've also seen Shield AI raise capital to $12 billion valuation.”
Analyst cited Shield AI's $12B fundraising valuation as evidence of well-capitalized defense-tech entrants competing for engineering talent.
“SpaceX is going public at a very lofty valuation and its IPO will probably create generational wealth for a lot of its employees.”
Analyst framed SpaceX's high-valuation IPO as a talent-retention competitive risk for established defense primes like RTX.
“LHX laid out this almost 20% CAGR through 2030 for the missiles business.”
An analyst cited L3Harris's stated ~20% missiles CAGR through 2030 as a benchmark for RTX's Raytheon effector/missiles growth.
“Finnair announced their intention to purchase up to 46 GTF-powered Embraer [ E2 ] aircraft.”
Embraer's E2 aircraft (GTF-powered) is the platform behind Finnair's planned 46-aircraft order, a signal for demand for Embraer's narrowbody.
“Finnair announced their intention to purchase up to 46 GTF-powered Embraer [ E2 ] aircraft.”
Finnair signaled intent to buy up to 46 GTF-powered Embraer E2 aircraft, adding to Pratt's commercial GTF backlog.
“including Vietjet Air, which selected the GTF engine to power an additional 44 aircraft.”
Vietjet Air selected Pratt's GTF engine for 44 additional aircraft, a notable commercial engine win for RTX.
“continue to deliver to our end customer, Airbus.”
Airbus is the airframe customer for Pratt & Whitney's GTF engines; RTX is ramping OE deliveries and negotiating engine volumes with Airbus amid GTF fleet-health management.
| Company | Score | Trend | Rev YoY | Headline |
|---|---|---|---|---|
| RTXRTX Corporation | 9 | +8.7% | Strong Organic Growth Across All Three Channels | |
| ACHRArcher Aviation Inc. | 5 | n/a | Archer Aviation, a pre-commercial eVTOL developer, remained pre-revenue and deeply loss-making in Q1 (GAAP EPS of -$0.28) while emphasizing execution across its civil, defense and software lines | |
| AXONAxon Enterprise Inc. | 10 | +33.8% | AI Era Plan Driving Explosive Adoption | |
| BAThe Boeing Company | 7 | +14.0% | 737 production stabilized at 42/month, rate 47 this summer | |
| GDGeneral Dynamics | 8 | +10.3% | Strong Revenue Growth Across All Segments | |
| GEGE Aerospace | 7 | +24.7% | Exceptional Commercial Services Growth | |
| HIIHuntington Ingalls Industries | 6 | +13.3% | Strong Shipbuilding Revenue Growth Continues at 18% | |
| HWMHowmet Aerospace | 9 | +19.1% | Record Q1 Revenue Up 19% with 32% EBITDA Margin | |
| LHXL3Harris | 8 | +11.9% | Revenue surged to $5.7 billion with 15% organic growth and broad-based strength across all segments, while GAAP EPS of $2.72 rose 33% year-over-year | |
| LMTLockheed Martin | 4 | +0.3% | Munitions Production Ramp Accelerates | |
| LUNRIntuitive Machines, Inc. | 3 | +198.7% | Intuitive Machines reported record first-quarter revenue of $186.7 million, roughly 3x the prior-year quarter, though the increase was driven almost entirely by the January 2026 Lanteris acquisition rather than organic growth | |
| NOCNorthrop Grumman | 6 | +4.4% | B-21 Production Rate Acceleration | |
| RKLBRocket Lab USA, Inc. | 8 | +63.5% | Rocket Lab delivered its strongest first quarter ever, with record revenue of $200.3 million, up 63.5% year-over-year and just above the high end of guidance, led by Space Systems at $136.7 million (up 57.2%) | |
| SPCXSpace Exploration Technologies Corp. | Has not reported Q1 2026 | n/a | Has not reported Q1 2026 | |
| TDGTransDigm Group | 10 | +18.3% | TransDigm delivered a beat-and-raise second quarter, with GAAP revenue up roughly 18% year over year (organic growth of approximately 11%) as all three channels grew: commercial aftermarket rose about 14%, commercial OEM about 12%, and defense about 11% | |
| TXTTextron | 7 | +11.8% | Industrial Separation Announced to Create Pure-Play A&D |
Strong Organic Growth Across All Three Channels
Archer Aviation, a pre-commercial eVTOL developer, remained pre-revenue and deeply loss-making in Q1 (GAAP EPS of -$0.28) while emphasizing execution across its civil, defense and software lines
737 production stabilized at 42/month, rate 47 this summer
| Company | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|---|
| RTX | 9 | 6 | 5 | 9 | 7 | 9 |
| ACHR | 5 | 5 | 5 | 5 | 5 | 5 |
| AXON | 8 | 8 | 8 | 8 | 10 | 10 |
| BA | 2 | 8 | 8 | 8 | 9 | 7 |
| GD | 8 | 8 | 8 | 8 | 6 | 8 |
| GE | 6 | 8 | 9 | 9 | 9 | 7 |
| HII | 3 | 5 | 7 | 9 | 9 | 6 |
| HWM | 9 | 9 | 9 | 9 | 9 | 9 |
| LHX | 8 | 5 | 7 | 8 | 7 | 8 |
| LMT | 6 | 7 | 6 | 8 | 7 | 4 |
| LUNR | 8 | 3 | 5 | 2 | 3 | 3 |
| NOC | 6 | 1 | 7 | 8 | 9 | 6 |
| RKLB | 8 | 8 | 8 | 8 | 8 | 8 |
| SPCX | No score | No score | No score | No score |
Strong Revenue Growth Across All Segments
Strong Shipbuilding Revenue Growth Continues at 18%
Revenue surged to $5.7 billion with 15% organic growth and broad-based strength across all segments, while GAAP EPS of $2.72 rose 33% year-over-year
Intuitive Machines reported record first-quarter revenue of $186.7 million, roughly 3x the prior-year quarter, though the increase was driven almost entirely by the January 2026 Lanteris acquisition rather than organic growth
Rocket Lab delivered its strongest first quarter ever, with record revenue of $200.3 million, up 63.5% year-over-year and just above the high end of guidance, led by Space Systems at $136.7 million (up 57.2%)
Has not reported Q1 2026
TransDigm delivered a beat-and-raise second quarter, with GAAP revenue up roughly 18% year over year (organic growth of approximately 11%) as all three channels grew: commercial aftermarket rose about 14%, commercial OEM about 12%, and defense about 11%
| No score |
| No score |
| TDG | 9 | 7 | 8 | 9 | 7 | 10 |
|---|
| TXT | 3 | 5 | 5 | 7 | 9 | 7 |
|---|