1) Strong Financial Performance - Adjusted sales reached $22.1 billion, a 10% organic increase YoY, with growth across all channels. - Adjusted EPS was $1.78, up 21% YoY, driven by a 14% increase in segment operating profit. - Free cash flow for the quarter was $1.3 billion, up $500 million from Q1 last year. - Book-to-bill ratio was 1.14, with a record backlog of $271 billion, up 25% YoY.

2) Segment Highlights and Growth Drivers - Collins: Sales of $7.6 billion, up 10% organically, driven by commercial OE and aftermarket strength. - Pratt & Whitney: Sales of $8.2 billion, up 10% organically, with commercial aftermarket sales up 19%. - Raytheon: Sales of $6.9 billion, up 9% organically, with significant awards in land and air defense systems. - All segments are expected to see continued growth, with defense sales projected to grow mid to high single digits for the full year.

3) Operational Excellence and Innovation - Continued focus on operational execution, with MRO output for GTF engines up 23% YoY. - Investments in automation and capacity expansion across all segments, including a $200 million investment in Pratt's Columbus facility. - Introduction of innovative products like the non-kinetic Coyote system and advancements in hybrid electric solutions.

4) Guidance and Market Outlook - Full-year adjusted sales outlook raised by $500 million to $92.5 billion to $93.5 billion. - Adjusted EPS guidance increased to $6.70 to $6.90, reflecting strong first-quarter performance and expectations for continued defense strength. - Free cash flow outlook remains at $8.25 billion to $8.75 billion for the year.

5) Challenges and Supply Chain Considerations - Ongoing monitoring of global events, particularly in the Middle East, which could impact commercial aerospace demand. - Concerns about the supply chain's ability to keep pace with increased production, especially for munitions and critical components. - The impact of tariffs remains a consideration, but no significant changes to the outlook have been noted.

Bottom line: RTX is positioned for strong growth driven by robust demand across its commercial and defense segments, with a solid financial performance in Q1 2026. The company is raising its full-year guidance, reflecting confidence in its operational execution and market demand, although it remains vigilant regarding supply chain challenges and geopolitical factors.