RTX Corporation（NYSE：RTX）股價在4月22日下跌9.81％至113.75美元

RTX Corporation（NYSE：RTX）股價在4月22日發行了2025年第一季度的結果後，股價下跌9.81％至113.75美元。

RTX Corporation (NYSE:RTX) shares slumped 9.81% on Saturday, April 22, following first-quarter 2025 results that came in better than expected. The drop came despite strong earnings and sales performance, as investors focused on growing concerns about tariffs and global trade pressures.

RTX Corporation（NYSE：RTX）在4月22日（星期六）股價下跌了9.81％，此前2025年第一季度的結果取得的成績比預期的要好。儘管收益和銷售業績很高，但下降仍在下降，因為投資者專注於對關稅和全球貿易壓力的日益關注。

RTX is set to report its next earnings between July 21 and July 25, 2025.

RTX將在2025年7月21日至7月25日之間報告其下一項收益。

What Happened: RTX adjusted sales for the quarter came in at $20.3 billion, marking a 5% year-over-year increase and 8% organic growth. Segment margins also saw an improvement of 120 bps, and segment operating profit reached $2.5 billion, up 18% from last year.

發生的事情：RTX調整後的銷售額為203億美元，標誌著同比增長5％，有機增長8％。細分市場的利潤率也提高了120個基點，而細分市場的營業利潤達到25億美元，比去年增長了18％。

Adjusted earnings per share reached $1.47, showing a 10% increase. GAAP EPS from continuing operations came in at $1.14.

調整後的每股收益達到1.47美元，顯示出10％的增長。繼續運營的GAAP EPS為1.14美元。

Commercial aftermarket sales soared by 21%, while commercial OE and defense sales rose by 3% and 4%, respectively.

商業售後市場銷售飆升了21％，而商業OE和國防銷售分別增長了3％和4％。

The company reported $792 million in free cash flow during the quarter and returned $890 million to shareholders, primarily via dividends. RTX also holds a $217 billion backlog, up 8% year-over-year, highlighting long-term demand visibility.

該公司在本季度報告了7.92億美元的自由現金流，並主要通過股息向股東返還了8.9億美元。 RTX還擁有2170億美元的積壓，同比增長8％，突出了長期需求的可見性。

Segment Highlights: Collins Aerospace reported $7.2 billion in sales, showing a 9% increase organically. Pratt & Whitney delivered $7.4 billion in revenue, indicating a 14% rise both adjusted and organically.

細分市場亮點：柯林斯航空航天報告的銷售額為72億美元，顯示出9％的有機增長。普拉特（Pratt＆Whitney）提供了74億美元的收入，表明調整和有機增長了14％。

Raytheon segment sales were affected by the divestiture of the Cybersecurity business, leading to a 5% drop in adjusted sales. However, organic growth in the segment stood at 2%. The book-to-bill ratio for the quarter was 0.70, and the rolling 12-month figure was 1.35, indicating a healthy pipeline.

雷神分段的銷售受到網絡安全業務剝離的影響，導致調整後的銷售量下降了5％。但是，該節段的有機生長為2％。該季度的書籍比率為0.70，滾動12個月的數字為1.35，表明健康管道。

Key Insight: While RTX exceeded earnings expectations and reported strength in sales and segment performance, investors reacted negatively to warnings about potential tariff impacts.

主要見解：儘管RTX超過了銷售和細分市場績效的盈利預期並報告了實力，但投資者對有關潛在關稅影響的警告產生了負面反應。

RTX estimated that up to $850 million in sales could be affected by tariffs, an aspect that has not been baked into the company’s outlook for 2025. This lack of specificity from RTX sparked concerns among investors regarding future margins and earnings consistency.

RTX估計，高達8.5億美元的銷售可能會受到關稅的影響，這一方面尚未融入該公司2025年的前景。 RTX缺乏特殊性引發了投資者對未來利潤率和收益一致性的擔憂。

Moreover, management highlighted risks to the company’s operations and delivery schedules due to supply chain disruptions linked to global trade instability. These headwinds could pressure the company’s performance in the coming quarters.

此外，管理層強調了由於與全球貿易不穩定有關的供應鏈中斷而導致的公司運營和交付計劃的風險。這些逆風可能會在未來幾個季度向公司的表現施加壓力。

Stock Performance: In the year to date, RTX shares have declined by 1.20%, still outperforming the S&P 500’s 10.10% drop. Over the past year, RTX has returned 14.46%, and over five years, the stock has delivered a strong 103.10% gain, outpacing the broader index.

股票績效：在迄今為止，RTX股票下跌了1.20％，仍然比標準普爾500指數的10.10％下降。在過去的一年中，RTX返回了14.46％，在五年中，該股票的增長率為103.10％，超過了廣泛的指數。

With solid free cash flow of $5.37 billion over the trailing 12 months and moderate debt levels, RTX remains financially sound. However, the stock’s near-term trajectory could remain volatile as investors weigh trade uncertainties against long-term growth potential.

在落後的12個月內，固體自由現金流為53.7億美元，債務水平中等，RTX在財務上仍然是合理的。但是，隨著投資者權衡貿易不確定性與長期增長潛力，該股票的近期軌跡可能保持波動。

RTX’s performance reflects a solid business with strong execution, but global macroeconomic headwinds could pressure margins and limit upside in the coming quarters.

RTX的表現反映了一項穩固的業務，但執行力很強，但是全球宏觀經濟的逆風可能會在未來幾個季度施加壓力和限制上漲空間。