RTX (RTX) shares surged close to 6% in intraday trading Tuesda🔥y after the aerospace and defense contractor posted better-than-expected result🥀s, helped by a rise in air travel and military spending.

The company formerly known as Raytheon reported fourth quarter 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $1.29, with revenue up 10% from the year before to $19.9 billion. Both exceeded expectations.

Sales at the Collins Aerospace division were up 14% to $7.12 billion, boosted by a commercial settlement and a jump in demand for aftermarket products as airlines put more planes in the air amid a travel✅ boom.

The Pratt & Whitney engine unit posted a 25% increase in revenue to $6.44 billion, bouncing back after a 2023 澳洲幸运5官方开奖结果体彩网:recall and inspection of engines used on Airbus A320neo passenger jets because ofﷺ a “rare condition of p🔯owder metal” used to make them. 

Revenue at the defense arm of RTX, called 🍌Raytheon, gained 3% to $6.89 billion. The group produces AMRAAM rockets and the P𝔉atriot missile system.

CEO Greg Hayes said RTX “supported the continued recovery in commercial aero🍷space and provided critical platforms and advanced technologies to our customers.”  

The company anticipates full-year EPS in the range of $5.25 to $5.40, compared ♊to analyst projections of $5.28. 

Shares of RTX were 5.8% higher at $89.96 per share as of about noon ET Tuesday. Despite Tuesday’s gains, shares of RTX were down 6.5% year-over-year.