What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to provide information disclosed at RTX's Investor Day on June 18-19, 2023. This includes details about an upcoming business realignment, the company's long-term strategy, financial outlook, and capital deployment priorities.

When will investors be able to see financial results under the new segment structure?

RTX will begin reporting comparative results under the new segment structure with the filing of its Quarterly Report on Form 10-Q for the quarter and nine months ending September 30, 2023. Until then, the supplemental information provided is considered non-GAAP.

Does this filing include updated financial performance numbers for RTX?

This 8-K filing primarily announces the business realignment and references exhibits containing supplemental historical segment information on a non-GAAP basis. It does not present new, audited financial performance numbers for the company's current operations. Investors should refer to RTX's periodic SEC filings (10-K, 10-Q) for official GAAP financial performance.

RTX 8-K: Regulation FD — Jun 20, 2023

Q: What are the new business segments for RTX?

Effective July 1, 2023, RTX will operate under three principal business segments: Collins Aerospace, Pratt & Whitney, and Raytheon. This is a change from the previous structure of four segments.

Summary

Raytheon Technologies Corporation (RTX) filed an 8-K on June 19, 2023, primarily to disclose information presented at their Investor Day held on June 18-19, 2023. The key takeaway for investors is the company's upcoming business realignment, where it will transition from four reporting segments (Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense) to three principal business segments: Collins Aerospace, Pratt & Whitney, and Raytheon. This change, effective July 1, 2023, will necessitate a revision in segment reporting, with comparative results under the new structure expected starting with the Q3 2023 Form 10-Q filing. The filing also emphasizes RTX's commitment to providing investors with detailed insights into its long-term growth strategy, financial outlook, and capital deployment priorities. While the 8-K itself does not contain new financial performance data, it references exhibits containing supplemental historical segment information under the new structure, which are presented on a non-GAAP basis. RTX clarifies its use of various non-GAAP financial measures, such as adjusted net sales, organic sales, adjusted EPS, and free cash flow, explaining their definitions and utility for investors, while reminding them to refer to GAAP measures as well.

Key Highlights

1RTX is realigning its business structure from four reporting segments to three, effective July 1, 2023. The new segments will be Collins Aerospace, Pratt & Whitney, and Raytheon.
2The realignment aims to streamline operations and will require revised segment reporting. Comparative results under the new structure are expected in the Q3 2023 Form 10-Q.
3The company held an Investor Day to discuss its long-term growth strategy, business realignment, financial outlook, and capital deployment.
4Supplemental historical segment information under the new structure is provided in Exhibit 99.2, presented on a non-GAAP basis.
5RTX provides detailed definitions and explanations for its use of various non-GAAP financial measures, including adjusted net sales, organic sales, adjusted EPS, and free cash flow.
6The company advises investors to consider non-GAAP measures alongside GAAP measures and to review full financial statements.

RTX Corp 8-K Report, Regulation FD Disclosure (Jun 20, 2023)

Summary

Key Highlights

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