January 28, 2025 - RTX Corporation ( NYSE:RTX ), formerly Raytheon Technologies Corporation, reported its fourth quarter 2024 and full year 2024 results today.

The company reported $21.6 billion in sales for the Q4 2024, a 9% increase year-over year. The GAAP earnings per share (EPS) came in at $1.10 while the adjusted EPS was $1.54, up 19% year over year.

RTX was formed through the merger of United Technologies Corporation and Raytheon in 2020. And now RTX stands as one of the largest aerospace and defense manufacturers in the world is headquartered in Arlington, Virginia.

For full year 2024 results, the company reported sales of $80.7 billion, marking 9% increase over the past year. Adjusted EPS was $5.73 representing a 13% year-over-year increase. The company generated $4.5 billion in free cash flow for the year.

For 2025 guidance, RTX projects adjusted sales between $83 billion and $84 billion and adjusted EPS in the range of $6.00 to $6.15. Company's confidence is bolstered by the strong defense contracts it enters.

Some recent contracts that RTX secures include a $946 million contract to equip Romania with Patriot Air and missile systems, and there's this $590 million Next Generation Jammer Mid Band contract with the U.S. Navy, and $529 million contract with Netherlands to provide Patriot defense system.

This article first appeared on GuruFocus .