RTX Corporation

Shortcut’s reasoning.

The segment sales build estimates approximately $8.206bn for Collins Aerospace, $8.924bn for Pratt & Whitney and $7.740bn for Raytheon, before consolidated eliminations.

Adjusted segment operating margins of 16.9%, 8.6% and 12.5% produce $3.122bn of segment operating profit. Eliminations, corporate costs and FAS/CAS pension adjustments bring consolidated adjusted operating profit to $3.240bn.

Adjusted pension income of $346.5m and interest expense of $409m give adjusted pre-tax income of $3.178bn. The model applies an 18.25% tax rate and $105m of noncontrolling interests, yielding $2.493bn of adjusted net income on 1,366.7m diluted shares.

Adjusted diluted EPS is 1.8239856564144061 versus frozen normalized Street EPS of 1.78. Tax phasing and source-limited adjustments remain forecast judgments; the separate beat probability does not multiply EPS.