RTX Corporation (NYSE:RTX) Q3 2024 Earnings Conference Call October 22, 2024 8:30 AM ET
Company Participants
Christopher Calio - President & CEO
Neil Mitchill - CFO
Nathan Ware – VP, IR
Conference Call Participants
Robert Stallard - Vertical Research
Myles Walton - Wolfe Research
Jason Gursky - Citi
Sheila Kahyaoglu - Jefferies
Peter Arment - Baird
Ronald Epstein - Bank of America
Gautam Khanna - TD Cowen
Seth Seifman - JPMorgan
Noah Poponak - Goldman Sachs
David Strauss - Barclays
Douglas Harned - Bernstein
Gavin Parsons - UBS
Scott Deuschle - Deutsche Bank
Operator
Good day, ladies and gentlemen, and welcome to the RTX Third Quarter 2024 Earnings Conference Call. My name is Latif, and I will be your operator for today. As a reminder, this conference is being recorded for replay purposes.
On the call today are Chris Calio, President and Chief Executive Officer; Neil Mitchell, Chief Financial Officer; and Nathan Ware, Vice President of Investor Relations. This call is being webcast live on the Internet, and there is a presentation available for download from RTX website at www.rtx.com.
Please note, except where otherwise noted, the company will speak to results from continuing operations, excluding acquisition accounting adjustments and net non-recurring and/or significant items often referred to by management as other significant items. The company also reminds (ph) listeners that the earnings and cash flow expectations [Technical Difficulty] in this call are subject to risks and uncertainties.
RTX SEC filings, including its forms 8-K, 10-Q and 10-K, provide details on important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Once the call becomes open for questions, we ask that you limit your first round to one question per caller to give everyone the opportunity to participate. [Operator Instructions]
With that, I will turn the call over to Mr. Calio.
Christopher Calio
Thank you, and good morning, everyone. As you saw from our press release this morning, RTX delivered another strong quarter of performance, building on our momentum from the first half of the year. Demand across the business, including double-digit growth in commercial aftermarket and defense remains robust and drove 8% organic sales growth.
Our focus on execution drove 100 basis points of segment margin expansion in the quarter and free cash flow was strong at $2 billion. Based on these results and our expectations for the remainder of the year, we are again raising our full year outlook for adjusted sales and EPS, and Neil will take you through the details here in a few minutes. .