RTX raised its outlook again as third-quarter adjusted EPS rose 33 percent

Buried in the headline number is a line about trade law. RTX reported third-quarter adjusted earnings of $2.26 a share, up 33 percent from $1.70, and its release says 25 cents of that came from IEEPA cost recovery, a reference to the International Emergency Economic Powers Act.

Sales rose 11 percent to $25.0 billion, 12 percent organically, and GAAP earnings were $1.89 a share against $1.41. The recovery shows up across the business: about $0.4 billion of adjusted net income, about $250 million of profit at Collins Aerospace and about $160 million at Pratt & Whitney. The release does not explain it further.

Cash went the other way. Operating cash flow fell to $2.9 billion from $4.6 billion, and free cash flow to $2.1 billion from $4.0 billion.

Backlog reached a record $340 billion, of which $176 billion is commercial and $164 billion defense. Chief executive Chris Calio said the company was again raising its full-year outlook. The new ranges are adjusted sales of $97.0 billion to $97.5 billion, up from $95.0 billion to $96.0 billion, and adjusted EPS of $7.65 to $7.75, up from $7.10 to $7.25.

The document: RTX Corporation, Form 8-K exhibit 99, October 20, 2026.