Stock Analysis on Net

RTX Corp. (NYSE:RTX)

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

RTX Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Sep 30, 2024 Jun 30, 2024 Mar 3, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Products sales 14,708 14,562 14,303 14,758 8,615 13,411 12,787 13,897 12,756 12,258 11,862 13,096 12,331 12,179 11,664 12,917 11,469 10,768 8,165 13,445 13,651 14,033 12,875
Services sales 5,381 5,159 5,002 5,169 4,849 4,904 4,427 4,196 4,195 4,056 3,854 3,948 3,882 3,701 3,587 3,502 3,278 3,293 3,195 6,106 5,845 5,601 5,490
Net sales 20,089 19,721 19,305 19,927 13,464 18,315 17,214 18,093 16,951 16,314 15,716 17,044 16,213 15,880 15,251 16,419 14,747 14,061 11,360 19,551 19,496 19,634 18,365
Cost of sales, products (12,336) (12,625) (12,216) (12,347) (9,289) (11,089) (10,700) (11,574) (10,493) (10,040) (9,820) (10,828) (10,296) (9,997) (9,974) (11,566) (10,322) (9,620) (6,629) (10,834) (10,461) (10,863) (10,286)
Cost of sales, services (3,719) (3,516) (3,528) (3,571) (3,461) (3,429) (2,945) (2,952) (2,971) (2,816) (2,740) (2,788) (2,793) (2,658) (2,563) (2,700) (2,682) (2,594) (1,943) (3,900) (3,750) (3,550) (3,421)
Cost of sales (16,055) (16,141) (15,744) (15,918) (12,750) (14,518) (13,645) (14,526) (13,464) (12,856) (12,560) (13,616) (13,089) (12,655) (12,537) (14,266) (13,004) (12,214) (8,572) (14,734) (14,211) (14,413) (13,707)
Gross margin 4,034 3,580 3,561 4,009 714 3,797 3,569 3,567 3,487 3,458 3,156 3,428 3,124 3,225 2,714 2,153 1,743 1,847 2,788 4,817 5,285 5,221 4,658
Research and development (751) (706) (669) (757) (712) (729) (607) (716) (662) (698) (635) (810) (676) (657) (589) (710) (642) (695) (535) (812) (732) (743) (728)
Selling, general, and administrative (1,389) (1,449) (1,394) (1,375) (1,401) (1,635) (1,398) (1,379) (1,391) (1,424) (1,469) (1,407) (1,229) (1,368) (1,220) (1,351) (1,401) (1,811) (977) (2,314) (2,104) (2,106) (1,997)
Goodwill impairment (3,183)
Other income (expense), net 134 (896) 372 (30) 3 25 88 29 46 17 28 109 124 82 108 50 734 82 19 160 37 212 112
Operating profit (loss) 2,028 529 1,870 1,847 (1,396) 1,458 1,652 1,501 1,480 1,353 1,080 1,320 1,343 1,282 1,013 142 434 (3,760) 1,295 1,851 2,486 2,584 2,045
Non-service pension income 374 374 386 446 443 447 444 467 468 474 480 472 491 490 491 244 253 237 168 161 303 216 208
Debt extinguishment costs (649)
Interest expense, net (496) (475) (405) (488) (369) (333) (315) (318) (311) (329) (318) (276) (358) (342) (346) (349) (350) (335) (332) (419) (401) (360) (431)
Non-operating income (expense), net (122) (101) (19) (42) 74 114 129 149 157 145 162 (453) 133 148 145 (105) (97) (98) (164) (258) (98) (144) (223)
Income (loss) from continuing operations before income taxes 1,906 428 1,851 1,805 (1,322) 1,572 1,781 1,650 1,637 1,498 1,242 867 1,476 1,430 1,158 37 337 (3,858) 1,131 1,593 2,388 2,440 1,822
Income tax (expense) benefit (371) (253) (108) (332) 389 (213) (300) (182) (242) (160) (116) (96) (3) (342) (345) 178 (152) 38 (639) (326) (1,131) (441) (397)
Net income (loss) from continuing operations 1,535 175 1,743 1,473 (933) 1,359 1,481 1,468 1,395 1,338 1,126 771 1,473 1,088 813 215 185 (3,820) 492 1,267 1,257 1,999 1,425
Net income (loss) from discontinued operations (19) 1 (7) (8) (19) (11) 113 9 (478)
Net income (loss) 1,535 175 1,743 1,473 (933) 1,359 1,481 1,468 1,395 1,338 1,107 772 1,466 1,080 794 204 298 (3,811) 14 1,267 1,257 1,999 1,425
Noncontrolling interest in subsidiaries’ earnings (63) (64) (34) (47) (51) (32) (55) (46) (8) (34) (23) (86) (73) (48) (41) (69) (34) (24) (97) (124) (109) (99) (79)
Net income (loss) attributable to common shareowners 1,472 111 1,709 1,426 (984) 1,327 1,426 1,422 1,387 1,304 1,084 686 1,393 1,032 753 135 264 (3,835) (83) 1,143 1,148 1,900 1,346

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-03), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Income statement item Description The company
Net sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. RTX Corp. net sales increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Operating profit (loss) The net result for the period of deducting operating expenses from operating revenues. RTX Corp. operating profit (loss) decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
Income (loss) from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. RTX Corp. income (loss) from continuing operations before income taxes decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
Net income (loss) attributable to common shareowners The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. RTX Corp. net income (loss) attributable to common shareowners decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.