RTX to record ~$3B Q3 charge on Pratt & Whitney powder metal defect; 600-700 extra engine removals 2023-2026

RTX Corp

Pre-tax charge of ~$3B in Q3 2023; total pre-tax impact estimated at $3-3.5B over several years.
Incremental 600-700 PW1100 GTF engines removed for shop visits beyond prior forecast, mainly 2023-early 2024.
2023 reported sales guidance cut to $67.5-68.5B; reaffirmed adjusted EPS $4.95-5.05 and free cash flow ~$4.3B.
2025 free cash flow target lowered to ~$7.5B (down ~$1.5B) due to cash impact; $33-35B capital return commitment reaffirmed.
Powder metal issue also being analyzed on other engine models, expected to be far less impacted.

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