(NYSE: RTX), the company that until recently was known as Raytheon Technologies, beat quarterly estimates and narrowed its guidance for the full year. But investors were more focused on weak free cash flow and issues at its all-important Pratt Whitney engine unit.
Shares of RTX fell by as much as 16% on Tuesday due to the uncertainty that came out of the release.
RTX has been in transition for a few years now. Raytheon Technologies was formed by the 2020 merger of defense specialist Raytheon and the aerospace arm of the former United Technologies, with the goal of offering a wide range of defense and commercial aerospace goods including Pratt Whitney engines and Collins interiors.
Source Fool.com