The following is a summary of the RTX Corporation (RTX) Q4 2023 Earnings Call Transcript:

Financial Performance:

RTX Corporation reported an 11% organic growth for 2023, with Q4 adjusted sales standing at $19.8 billion, marking a 10% growth from the previous year.
The company commands a hefty backlog of $196 billion, hinting at robust future sales and earnings.
Adjusted earnings per share was $1.29, 2% up and slightly better than expectations.
Commercial aftermarket was up 23%, commercial OE saw a 20% rise, and defense increased by 4%.
The company ended the year with a free cash flow of $5.5 billion, surpassing their commitment.
RTX returned over $16 billion of capital to shareholders for the year.
Their 2024 outlook projects an estimated 7% – 8% year-over-year organic sales growth, bringing the projected total to between $78 billion and $79 billion.

Business Progress:

Strong global demand for RTX’s products and services in the sectors of commercial aerospace and defense are contributing to the company’s growth.
Operational challenges with Pratt’s powdered metal situation and Raytheon’s margins are being addressed.
The company is focused on executing its strategies more efficiently, and despite supply chain and cost challenges, is committed to fulfilling its obligations.
Leadership transition saw Phil Jasper take on the role of President of the Raytheon business, succeeding Wes Kremer.
A record contract with NATO worth $2.8 billion marks the company’s largest GEMT contract in its history.
The company’s Collins segment saw a 12% increase in Q4 sales, primarily driven by strengths in commercial OE and aftermarket growth.
A strong recovery in air travel is driving an upward trend in aftermarket demand for both wide-bodied and narrow-bodied aircraft.