Stock Analysis on Net
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RTX Corp. (NYSE:RTX)

$24.99

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.

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RTX Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 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
Products sales
Services sales
Net sales
Cost of sales, products
Cost of sales, services
Cost of sales
Gross margin
Research and development
Selling, general, and administrative
Other income (expense), net
Operating profit (loss)
Non-service pension income
Debt extinguishment costs
Interest expense, net
Non-operating income (expense), net
Income (loss) from continuing operations before income taxes
Income tax (expense) benefit
Net income (loss) from continuing operations
Net loss from discontinued operations
Net income (loss)
Noncontrolling interest in subsidiaries’ earnings
Net income (loss) attributable to common shareowners

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).

An analysis of the financial performance from March 2021 through June 2026 reveals a consistent long-term expansion in both top-line revenue and bottom-line profitability, despite significant intermittent volatility. Net sales grew from 15,251 million USD in the first quarter of 2021 to 24,708 million USD by the second quarter of 2026, representing a substantial increase in scale.

Revenue Streams and Composition
A dual-growth pattern is observed in product and service sales. Product sales increased from 11,664 million USD to 17,944 million USD. Simultaneously, service sales exhibited a steady upward trajectory, rising from 3,587 million USD to 6,764 million USD. The growth in service sales suggests a strategic shift or an increase in the recurring revenue component of the business model.
Profitability and Margin Trends
Gross margin expanded from 2,714 million USD in March 2021 to 5,133 million USD in June 2026. While cost of sales increased in absolute terms to support higher volume, the rate of gross profit growth outpaced the rate of cost increases. Operating profit followed a similar trajectory, rising from 1,013 million USD to 2,811 million USD over the period, indicating improved operational leverage.
Operational Expense Management
Research and development expenses remained relatively controlled, fluctuating generally between 600 million USD and 800 million USD per quarter. Selling, general, and administrative expenses showed a gradual increase, moving from approximately 1,220 million USD to 1,658 million USD, though these costs remained stable relative to the significant growth in net sales.
Net Income and Shareholder Earnings
Net income attributable to common shareowners grew from 753 million USD in March 2021 to 2,139 million USD in June 2026. This growth was supported by strong operating performance, although it was occasionally offset by fluctuations in non-operating income and tax expenses.
Analysis of Volatility and Anomalies
A significant performance contraction occurred in the quarter ending September 30, 2023, characterized by a sharp decline in net sales to 13,464 million USD and a resulting operating loss of 1,396 million USD. A subsequent recovery was observed, with sales returning to growth trends in the following quarters. Another notable dip in net income occurred in June 2024, though it did not disrupt the broader multi-year growth trend.
Financial Obligations and Non-Operating Items
Interest expenses, net, showed an upward trend, increasing from the 300 million USD range in 2021 to approximately 417 million USD by June 2026. Non-service pension income remained a consistent contributor to pre-tax income, generally ranging between 350 million USD and 490 million USD per quarter, though a sharp temporary decrease to 101 million USD was noted in September 2025.