US Market News
2月前
The Defense Industrial Base Is Ramping at a Generational Pace -- and a Florida Air-Launch Operator Just Built the Engineering Layer to Fit Into ItMay 19, 2026 8:35 AM
PR Newswire (US) Issued on behalf of Starfighters Space, Inc.Record backlogs, raised guidance, Department of War strategic investments in propulsion capacity, multi-year framework agreements, and a $1 trillion-plus defense procurement environment are defining 2026. Starfighters Space (NYSE American: FJET) just engaged Integrated Launch Solutions to add launch, range, licensing and mission integration depth to its STARLAUNCH pathway as the U.S. defense and commercial space markets converge into a single capacity-constrained opportunity.CAPE CANAVERAL, Fla., May 19, 2026 /PRNewswire/ -- USA News Group News Commentary — Strip away the press cycle and the defining feature of the 2026 defense and space landscape is straightforward: the customer is no longer the constraint. The Pentagon has the funding, the program authority, and the political mandate. The senior primes have the order book. What the entire system now needs is delivery capacity — the production lines, the integration engineering, the range coordination, the licensing throughput, and the operational tempo required to convert backlog into hardware on the ramp. That is the structural backdrop for the latest move from Starfighters Space, Inc. (NYSE American: FJET), the Cape Canaveral-based operator of the world's fastest fleet of commercial supersonic aircraft. The Company announced it has engaged Integrated Launch Solutions, Inc. ("ILS") to provide engineering and technical integration support as Starfighters advances the STARLAUNCH pathway from design and analysis toward flight and launch services. [1]ILS will serve as an extension of the Starfighters team, providing subject matter expertise across mission design, analysis, and simulation; systems engineering and technical integration; regulatory and safety compliance; and range integration. [1] The work is expected to support program planning, requirements definition, trajectory analysis, licensing strategy, range coordination and related integration activities. The ILS resource pool brings experience from Boeing, Lockheed Martin, United Launch Alliance, SpaceX and the U.S. Air Force, with prior work supporting the U.S. Air Force, the National Reconnaissance Office, NASA and commercial customers.For more information on Starfighters Space, read the entire USA News Group Report"STARLAUNCH is a pathway, and the pathway depends on execution," said Tim Franta, Chief Executive Officer of Starfighters Space, in the announcement. He framed the engagement as adding "process discipline and execution capacity required to expedite space launch development from concept through flight readiness." [1] The ILS work layers on top of the appointments earlier this month of Jose Arias as Vice President, Space Operations, and Catrina L. Medeiros as Director, STARLAUNCH Operations — both senior leaders drawn from Blue Origin's New Glenn program. [2]What makes this move materially significant is not the engagement itself — it is the scale of the demand environment Starfighters is building into. Across the senior aerospace and defense complex, Q1 2026 prints have been defined by record backlogs and explicit commentary on capacity expansion as the binding constraint.RTX Corporation (NYSE: RTX) reported Q1 2026 sales of $22.1 billion on April 21, 2026, up 9% versus the prior year and up 10% organically. [3] Raytheon booked $6.6 billion of awards in the quarter, including over $600 million for Patriot equipment to the Netherlands and more than $400 million from the U.S. Army for lower-tier air and missile defense sensors, with an additional $900 million in awards for Standard Missile and Tomahawk. Munitions output grew over 40% year-over-year, and Raytheon posted its 12th consecutive quarter of material growth. [4] CEO Chris Calio described five "landmark framework agreements" Raytheon signed with the Department of War for Tomahawk, AMRAAM, and the Standard Missile family — agreements management said would, once finalized, provide firm demand signals to support production ramps "well above existing rates over the next decade." [4] RTX raised its full-year 2026 outlook for adjusted sales and adjusted EPS on the print.L3Harris Technologies, Inc. (NYSE: LHX) reported Q1 2026 revenue of $5.74 billion on April 30, 2026 — up 12% year-over-year, with organic revenue growth of 15% — and posted contractual backlog of $40.7 billion, with a book-to-bill ratio for the quarter of 1.4. [5] Management raised full-year EPS guidance to $11.40 to $11.60. [6] In April, the Company closed a $1.0 billion strategic investment from the Department of War in its Missile Solutions (MSL) business, structured as a convertible preferred security to convert into equity at IPO. [5][6] The funds are earmarked for expanding and modernizing solid rocket motor production facilities in Camden, Arkansas; Huntsville, Alabama; and Orange, Virginia — facilities critical to manufacturing PAC-3, THAAD, Tomahawk, and Standard Missile systems. The carve-out missile entity has been named Axyv following a confidential S-1 filing, with the IPO targeting the second half of 2026. [6] L3Harris also disclosed the Hypersonic and Ballistic Tracking Space Sensor (HBTSS) successfully demonstrated tracking against a hypersonic target. [7]The Boeing Company (NYSE: BA) reported Q1 2026 revenue of $22.2 billion on April 22, 2026, with the Defense, Space & Security segment posting revenue of $7.6 billion — up 21% year-over-year — and operating margins improving to 3.1%. [8] During the quarter, Defense, Space & Security signed a seven-year framework agreement to expand PAC-3 Seeker production and announced a strategic partnership with Rheinmetall to offer the MQ-28 Ghost Bat to Germany. [8] In April 2026, the Boeing-built Space Launch System core stage rocket propelled the successful Artemis II mission to the Moon. [9] Backlog at Defense, Space & Security grew to a record $86 billion, with 27% representing orders from customers outside the U.S. On the earnings call, management noted higher demand in defense given increased operational tempo, framing it as a natural offset to potential commercial MRO weakness. [10]Voyager Technologies, Inc. (NYSE: VOYG) — a defense and space technology company best known for leading development of Starlab, the commercial space station being developed as a replacement for the ISS — has been positioning aggressively in the defense and national security segments. The Company priced its IPO at $31 per share in June 2025, raising $383 million, and saw shares close at $56.48 on the day of its public debut. [11] In its Q1 2026 print reported May 4, 2026, Voyager delivered net sales of $35.2 million and grew total backlog to a record $275.3 million, up 54% year-over-year, with first-quarter bookings of $45.2 million and a book-to-bill ratio of 1.3. [12] On the strength of that backlog, the Company raised its 2026 revenue guidance to a range of $230 million to $255 million, representing 39% to 53% year-over-year growth. [12] Voyager ended the quarter with $429.4 million in cash and total liquidity of $641.4 million. Starlab achieved four NASA milestones and received $24.0 million in NASA funding during the period. [12] Voyager also secured NASA's seventh Private Astronaut Mission in April 2026, designated VOYG-1, with launch targeted no earlier than 2028, and was awarded a contract with Raytheon to develop advanced technologies for the Standard Missile interceptor program. [13]What is most striking about RTX, L3Harris, Boeing's defense business, and Voyager is that none of these stories sits in isolation. They reflect a single thesis: in 2026, the U.S. defense industrial base is being asked to ramp production at a pace it has not been asked to deliver since the Cold War, and the bottleneck has moved from contract availability to integration capacity, range and licensing throughput, and operational tempo.For more information on Starfighters Space, read the entire USA News Group ReportThat is the gap Starfighters Space is positioning to address.The Asset, the Bench, and the Process Layer Now Behind STARLAUNCHStarfighters Space operates a fleet of seven modified F-104 supersonic aircraft from NASA's Kennedy Space Center, configured to act as a first-stage lifting platform that can carry payloads up to 45,000 feet for air launch to space. [1] The Company is the operator of the largest fleet of MACH 2+ capable aircraft in the world, and the only commercial operator capable of flying payloads at sustained MACH 2+ with the capability to launch those payloads to space. Its customer base includes Lockheed Martin, Meggitt, Space Florida, and the U.S. Air Force Research Laboratory.STARLAUNCH 1 is being developed as a sub-orbital vehicle designed to support short-duration microgravity missions and to serve as a pathfinder for future air-launched concepts. The Company has reported wind tunnel testing that demonstrated clean separation from the aircraft platform, followed by a Critical Design Review process. [1] Starfighters' Wind Tunnel in the Sky service uses the F-104 to fly as an airborne wind tunnel — a single 45-minute mission generates the equivalent of approximately 20 traditional 30-second ground wind tunnel runs, compressing what would otherwise take about ten days in a fixed-facility into less than an hour. [2]The ILS engagement now adds a deep bench of launch, range, licensing and mission integration experience, with prior work supporting the U.S. Air Force, the National Reconnaissance Office, NASA and commercial customers. [1] The recent Blue Origin appointments — Jose Arias and Catrina L. Medeiros — bring direct New Glenn program experience and, in Mr. Arias's case, a documented track record of compressing integration cycle time from 76 days to 13 days at Blue Origin. [2]This is what the assembly of an operationally proven team looks like when the underlying market is the U.S. defense, civil, and commercial space economy in a record-spending environment. The senior primes have signaled the demand. The Department of War has signaled the dollars. The framework agreements are in place. The bottleneck is execution.Starfighters Space (NYSE American: FJET) is building, in real time, the operational stack required to be one of the names that closes the gap.For more information on Starfighters Space, Inc. (NYSE American: FJET), visit usanewsgroup.com/fjet-landingCONTACT:USA News Group
US Market News
3月前
RTX Reports Q1 2026 ResultsApril 21, 2026 6:55 AM
PR Newswire (US)
RTX delivers double-digit organic sales* and earnings growth in Q1;
Raises 2026 outlook for adjusted sales* and adjusted EPS,* confirms free cash flow*ARLINGTON, Va., April 21, 2026 /PRNewswire/ -- RTX (NYSE: RTX) reports first quarter 2026 results.First quarter 2026Sales of $22.1 billion, up 9 percent versus prior year, and up 10 percent organically*GAAP EPS of $1.51, including $0.27 of acquisition accounting adjustmentsAdjusted EPS* of $1.78, up 21 percent versus prior yearOperating cash flow of $1.9 billion; free cash flow* of $1.3 billionCompany backlog of $271 billion, including $162 billion of commercial and $109 billion of defenseUpdates outlook for full year 2026Adjusted sales* of $92.5 - $93.5 billion, up from $92.0 - $93.0 billionOrganic sales growth* of 5 to 6 percentAdjusted EPS* of $6.70 - $6.90, up from $6.60 - $6.80Confirms free cash flow* of $8.25 - $8.75 billion"RTX delivered a very strong start to 2026 with organic sales and adjusted operating profit growth* across all three segments, driven by our continued focus on execution and delivering our backlog," said RTX Chairman and CEO Chris Calio. "Our differentiated products across RTX are well positioned to support our customers' needs and we're making significant investments to increase output and accelerate the fielding of new capabilities. Given our first quarter performance and the strength we're seeing in our defense business, we are increasing adjusted sales and EPS* in our full year outlook."First quarter 2026
RTX first quarter reported and adjusted sales* were $22.1 billion, up 9 percent over the prior year and 10 percent organically.* GAAP EPS of $1.51 included $0.27 of acquisition accounting adjustments. Adjusted EPS* of $1.78 was up 21 percent versus the prior year.The company reported net income attributable to common shareowners in the first quarter of $2.1 billion which included $0.4 billion of acquisition accounting adjustments. Adjusted net income* of $2.4 billion was up 22 percent versus the prior year driven by adjusted segment operating profit growth* across all three segments as well as lower interest and tax expense. Operating cash flow in the first quarter was $1.9 billion and capital expenditures were $0.5 billion, resulting in free cash flow* of $1.3 billion.*Adjusted net sales (also referred to as adjusted sales), organic sales, adjusted operating profit (loss) and margin percentage (ROS), segment operating profit (loss) and margin percentage (ROS), adjusted segment sales, adjusted segment operating profit (loss) and margin percentage (ROS), adjusted net income, adjusted earnings per share ("EPS"), adjusted effective tax rate, and free cash flow are non-GAAP financial measures. When we provide our expectation for adjusted net sales (also referred to as adjusted sales), adjusted EPS and free cash flow on a forward-looking basis, a reconciliation of these non-GAAP financial measures to the corresponding GAAP measures (expected diluted EPS and expected cash flow from operations) is not available without unreasonable effort due to potentially high variability, complexity, and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results. See "Use and Definitions of Non-GAAP Financial Measures" below for information regarding non-GAAP financial measures.Summary Financial Results
1st Quarter($ in millions, except EPS)2026
2025% ChangeReported
Sales$ 22,076
$ 20,3069 %Net Income$ 2,059
$ 1,53534 %EPS$ 1.51
$ 1.1432 %
Adjusted*
Sales$ 22,076
$ 20,3069 %Net Income$ 2,425
$ 1,99122 %EPS$ 1.78
$ 1.4721 %
Operating Cash Flow$ 1,855
$ 1,30542 %Free Cash Flow*$ 1,309
$ 79265 %Segment Results
Collins Aerospace
1st Quarter($ in millions)2026
2025% ChangeReported
Sales$ 7,602
$ 7,2175 %
Operating Profit$ 1,307
$ 1,08820 %
ROS17.2 %
15.1 %210bps
Adjusted*
Sales$ 7,602
$ 7,2175 %
Operating Profit$ 1,298
$ 1,2276 %
ROS17.1 %
17.0 %10bpsCollins Aerospace first quarter 2026 reported and adjusted sales* of $7,602 million were up 5 percent versus the prior year. Excluding the impact of divestitures, the increase in adjusted sales* was driven by a 15 percent increase in commercial OE, a 7 percent increase in commercial aftermarket, and a 9 percent increase in defense. The increase in commercial OE sales was driven by higher volume on narrowbody and widebody platforms, and the increase in commercial aftermarket sales was driven by growth in provisioning and parts and repairs which was partially offset by lower volume in modifications and upgrades. The increase in defense sales was driven by higher volume across multiple programs.Collins Aerospace reported operating profit of $1,307 million was up 20 percent versus the prior year. Adjusted operating profit* of $1,298 million was up 6 percent versus the prior year. The increase was driven by drop through on higher commercial and defense volume, and lower R&D expense. This was partially offset by unfavorable commercial OE mix, the impact of divestitures completed in 2025, and higher tariffs across the business. Reported operating profit in Q1 2025 included higher restructuring charges associated with cost transformation initiatives.Pratt & Whitney
1st Quarter($ in millions)2026
2025% ChangeReported
Sales$ 8,173
$ 7,36611 %
Operating Profit$ 710
$ 58022 %
ROS8.7 %
7.9 %80bps
Adjusted*
Sales$ 8,173
$ 7,36611 %
Operating Profit$ 711
$ 59021 %
ROS8.7 %
8.0 %70bpsPratt & Whitney first quarter reported and adjusted sales* of $8,173 million were up 11 percent versus the prior year. The sales growth was driven by a 19 percent increase in commercial aftermarket and a 7 percent increase in military, partially offset by a 1 percent decrease in commercial OE. The increase in commercial aftermarket was driven by higher volume, while the increase in military sales was driven by higher F135 production volume. The decrease in commercial OE sales was driven by lower engine deliveries.Pratt & Whitney reported operating profit of $710 million was up 22 percent versus the prior year. Adjusted operating profit* of $711 million was up 21 percent versus the prior year. The increase was driven by drop through on higher commercial aftermarket and military volume. This growth was partially offset by higher operational costs, including tariffs, and higher SG&A expense.Raytheon
1st Quarter($ in millions)2026
2025% ChangeReported
Sales$ 6,945
$ 6,34010 %
Operating Profit$ 841
$ 67824 %
ROS12.1 %
10.7 %140bps
Adjusted*
Sales$ 6,945
$ 6,34010 %
Operating Profit$ 845
$ 67825 %
ROS12.2 %
10.7 %150bpsRaytheon first quarter reported and adjusted sales* of $6,945 million were up 10 percent versus the prior year. This increase was driven by higher volume on land and air defense systems, including Patriot and GEM-T, as well as higher volume on naval munitions programs. Raytheon reported operating profit of $841 million was up 24 percent versus the prior year. Adjusted operating profit* of $845 million was up 25 percent versus the prior year. The increase was driven by favorable program mix and higher volume in land and air defense systems, higher volume in naval programs, and improved net productivity.About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.Conference Call on the First Quarter 2026 Financial Results
RTX's financial results conference call will be held on Tuesday, April 21, 2026 at 8:30 a.m. ET. The conference call will be webcast live on the company's website at www.rtx.com and will be available for replay following the call. The corresponding presentation slides will be available for downloading prior to the call.Use and Definitions of Non-GAAP Financial Measures
RTX Corporation ("RTX" or "the Company") reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information determined under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides investors with additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. We believe that these non-GAAP measures provide investors with additional insight into the Company's ongoing business performance. Other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. A reconciliation of the non-GAAP measures to the corresponding amounts prepared in accordance with GAAP appears in the tables in this Appendix. Certain non-GAAP financial adjustments are also described in this Appendix. Below are our non-GAAP financial measures:Non-GAAP measureDefinitionAdjusted net sales /
Adjusted salesRepresents consolidated net sales (a GAAP measure), excluding net significant and/or non-recurring items1 (hereinafter referred to as "net significant and/or non-recurring items").Organic salesOrganic sales represents the change in consolidated net sales (a GAAP measure), excluding the impact of foreign currency translation, acquisitions and divestitures completed in the preceding twelve months and net significant and/or non-recurring items.Adjusted operating
profit (loss) and margin
percentage (ROS) Adjusted operating profit (loss) represents operating profit (loss) (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items. Adjusted operating profit margin percentage represents adjusted operating profit (loss) as a percentage of adjusted net sales.Segment operating
profit (loss) and margin
percentage (ROS) Segment operating profit (loss) represents operating profit (loss) (a GAAP measure) excluding acquisition accounting adjustments2, the FAS/CAS operating adjustment3, Corporate expenses and other unallocated items, and Eliminations and other. Segment operating profit margin percentage represents segment operating profit (loss) as a percentage of segment sales (net sales, excluding Eliminations and other).Adjusted segment salesRepresents consolidated net sales (a GAAP measure) excluding eliminations and other and net significant and/or non-recurring items.Adjusted segment
operating profit (loss)
and margin percentage (ROS) Adjusted segment operating profit (loss) represents segment operating profit (loss) excluding restructuring costs, and net significant and/or non-recurring items. Adjusted segment operating profit margin percentage represents adjusted segment operating profit (loss) as a percentage of adjusted segment sales (adjusted net sales excluding Eliminations and other).Adjusted net incomeAdjusted net income represents net income (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items.Adjusted earnings per share (EPS)Adjusted EPS represents diluted earnings per share (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items.Adjusted effective tax rateAdjusted effective tax rate represents the effective tax rate (a GAAP measure), excluding the tax impact of restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items.Free cash flow Free cash flow represents cash flow from operating activities (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing RTX's ability to fund its activities, including the financing of acquisitions, debt service, repurchases of RTX's common stock, and distribution of earnings to shareowners.1 Net significant and/or non-recurring items represent significant nonoperational items and/or significant operational items that may occur at irregular intervals.
2 Acquisition accounting adjustments include the amortization of acquired intangible assets related to acquisitions, the amortization of the property, plant and equipment fair value adjustment acquired through acquisitions, the amortization of customer contractual obligations related to loss making or below market contracts acquired, and goodwill impairment, if applicable.
3 The FAS/CAS operating adjustment represents the difference between the service cost component of our pension and postretirement benefit (PRB) expense under the Financial Accounting Standards (FAS) requirements of GAAP and our pension and PRB expense under U.S. government Cost Accounting Standards (CAS) primarily related to our Raytheon segment.When we provide our expectation for adjusted net sales (also referred to as adjusted sales), organic sales, adjusted operating profit (loss) and margin percentage (ROS), adjusted segment operating profit (loss) and margin percentage (ROS), adjusted EPS, adjusted effective tax rate, and free cash flow, on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures, as described above, generally are not available without unreasonable effort due to potentially high variability, complexity, and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results.Cautionary Statement Regarding Forward-Looking Statements This press release contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide RTX Corporation ("RTX") management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid and are not statements of historical fact. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "goals," "objectives," "confident," "on track," "designed to," "commit," "commitment" and other words of similar meaning. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases, tax payments and rates, research and development spending, cost savings, other measures of financial performance, potential future plans, strategies or transactions, credit ratings and net indebtedness, the Pratt powder metal matter and related matters and activities, including without limitation other engine models that may be impacted, targets and commitments (including for share repurchases or otherwise), and other statements which are not solely historical facts. All forward-looking statements involve risks, uncertainties, changes in circumstances and other factors that are hard to predict, and each of which may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995, as amended. Such risks, uncertainties and other factors include, without limitation: (1) changes in economic, capital market, and political conditions in the U.S. and globally; (2) changes in U.S. or foreign government defense spending, national priorities, and policy positions; (3) our performance on our contracts and programs, including our ability to control costs, and our dependence on U.S. government approvals for certain international contracts; (4) challenges in the development, certification, production, delivery, support, and performance of RTX's advanced technologies and new products and services and the realization of anticipated benefits; (5) challenges of operating in RTX's highly-competitive industries both domestically and abroad; (6) our reliance on U.S. and non-U.S. suppliers and commodity markets, including cost increases and disruptions in the delivery of materials and services to RTX or our suppliers; (7) changes in trade policies, implementation of sanctions, imposition of tariffs (and counter-tariffs), and other trade measures and restrictions, foreign currency fluctuations, and sales methods; (8) the economic condition of the aerospace industry; (9) the ability of RTX to attract, train, qualify, and retain qualified personnel and maintain its culture and high ethical standards, and the ability of our personnel to continue to operate our facilities and businesses around the world; (10) the scope, nature, timing, and challenges of managing and completing acquisitions, investments, divestitures, and other transactions; (11) compliance with legal, environmental, regulatory, and other requirements in the U.S. and other countries in which RTX and its businesses operate; (12) pending, threatened, and future legal proceedings, investigations, audits, and other contingencies; (13) the previously-disclosed deferred prosecution agreements entered into between the Company and the Department of Justice (DOJ), the Securities and Exchange Commission (SEC) administrative order imposed on the Company, and the related investigations by the SEC and DOJ, and the consent agreement between the Company and the Department of State; (14) RTX's ability to engage in desirable capital-raising or strategic transactions; (15) repurchases by RTX of its common stock, or declarations of cash dividends, which may be discontinued, accelerated, suspended, or delayed at any time due to various factors; (16) realizing expected benefits from, incurring costs for, and successfully managing strategic initiatives such as cost reduction, restructuring, digital transformation, and other operational initiatives; (17) additional tax exposures due to new tax legislation or other developments in the U.S. and other countries in which RTX and its businesses operate; (18) the identified rare condition in powder metal used to manufacture certain Pratt & Whitney engine parts requiring accelerated removals and inspections of a significant portion of the PW1100G-JM Geared Turbofan (GTF) fleet; (19) changes in production volumes of one or more of our significant customers as a result of business, labor, or other challenges, and the resulting effect on its or their demand for our products and services; (20) an RTX product safety failure, quality issue, or other failure affecting RTX's or its customers' or suppliers' products or systems; (21) cybersecurity, including cyber-attacks on RTX's information technology infrastructure, products, suppliers, customers and partners, and cybersecurity-related regulations; (22) insufficient indemnity or insurance coverage; (23) our intellectual property and certain third-party intellectual property; (24) threats to RTX facilities and personnel, or those of its suppliers or customers, as well as public health crises, damaging weather, acts of nature, or other similar events outside of RTX's control that may affect RTX or its suppliers or customers; (25) changes in accounting estimates for our programs on our financial results; (26) changes in pension and other postretirement plan estimates and assumptions and contributions; (27) an impairment of goodwill and other intangible assets; and (28) climate change and climate-related regulations, and any related customer and market demands, products and technologies. For additional information on identifying factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements, see the reports of RTX filed with or furnished to the Securities and Exchange Commission from time to time, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and RTX assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.RTX CorporationCondensed Consolidated Statement of Operations
Quarter Ended March 31,
(Unaudited)(dollars in millions, except per share amounts; shares in millions)2026
2025Net Sales$ 22,076
$ 20,306Costs and expenses:
Cost of sales17,482
16,190
Research and development627
637
Selling, general, and administrative1,476
1,448
Total costs and expenses19,585
18,275Other income, net64
4Operating profit2,555
2,035
Non-service pension income(355)
(366)
Interest expense, net390
443Income before income taxes2,520
1,958
Income tax expense363
333Net income2,157
1,625
Less: Noncontrolling interest in subsidiaries' earnings98
90Net income attributable to common shareowners$ 2,059
$ 1,535
Earnings Per Share attributable to common shareowners:
Basic$ 1.53
$ 1.15
Diluted1.51
1.14
Weighted Average Shares Outstanding:
Basic shares1,348.0
1,337.1
Diluted shares1,364.6
1,351.8RTX CorporationSegment Net Sales and Operating Profit (Loss)
Quarter Ended
(Unaudited)
March 31, 2026
March 31, 2025(dollars in millions)ReportedAdjusted
ReportedAdjustedNet Sales
Collins Aerospace$ 7,602$ 7,602
$ 7,217$ 7,217Pratt & Whitney8,1738,173
7,3667,366Raytheon6,9456,945
6,3406,340Total segments22,72022,720
20,92320,923Eliminations and other(644)(644)
(617)(617)Consolidated$ 22,076$ 22,076
$ 20,306$ 20,306
Operating Profit (Loss)
Collins Aerospace$ 1,307$ 1,298
$ 1,088$ 1,227Pratt & Whitney710711
580590Raytheon841845
678678Total segments2,8582,854
2,3462,495Eliminations and other3838
1212Corporate expenses and other unallocated items(42)(41)
(38)(29)FAS/CAS operating adjustment172172
185185Acquisition accounting adjustments(471)—
(470)—Consolidated$ 2,555$ 3,023
$ 2,035$ 2,663
Segment Operating Profit Margin
Collins Aerospace17.2 %17.1 %
15.1 %17.0 %Pratt & Whitney8.7 %8.7 %
7.9 %8.0 %Raytheon12.1 %12.2 %
10.7 %10.7 %Total segment12.6 %12.6 %
11.2 %11.9 %RTX CorporationCondensed Consolidated Balance Sheet
March 31, 2026
December 31, 2025(dollars in millions)(Unaudited)
(Unaudited)Assets
Cash and cash equivalents$ 6,818
$ 7,435Accounts receivable, net12,945
14,701Contract assets, net18,070
17,092Inventory, net14,153
13,364Other assets, current8,023
7,740Total current assets60,009
60,332Customer financing assets2,041
2,132Fixed assets, net16,842
16,868Operating lease right-of-use assets1,773
1,887Goodwill53,276
53,343Intangible assets, net31,482
31,845Other assets5,008
4,672Total assets$ 170,431
$ 171,079
Liabilities, Redeemable Noncontrolling Interest, and Equity
Short-term borrowings$ 226
$ 204Accounts payable15,979
15,895Accrued employee compensation2,004
3,308Other accrued liabilities14,217
14,350Contract liabilities21,940
21,615Long-term debt currently due4,213
3,412Total current liabilities58,579
58,784Long-term debt32,974
34,288Operating lease liabilities, non-current1,522
1,602Future pension and postretirement benefit obligations2,015
2,067Other long-term liabilities7,307
7,200Total liabilities102,397
103,941Redeemable noncontrolling interest37
36Shareowners' Equity:
Common stock38,178
38,126Treasury stock(26,814)
(26,881)Retained earnings57,861
56,718Accumulated other comprehensive loss(2,945)
(2,718)Total shareowners' equity66,280
65,245Noncontrolling interest1,717
1,857Total equity67,997
67,102Total liabilities, redeemable noncontrolling interest, and equity$ 170,431
$ 171,079RTX CorporationCondensed Consolidated Statement of Cash Flows
Quarter Ended March 31,
(Unaudited)(dollars in millions)2026
2025Operating Activities:
Net income$ 2,157
$ 1,625Adjustments to reconcile net income to net cash flows provided by operating activities from:
Depreciation and amortization1,071
1,052Deferred income tax provision26
67Stock compensation cost132
111Net periodic pension and other postretirement income(313)
(324)Share-based 401(k) matching contributions192
167Change in:
Accounts receivable1,823
(372)Contract assets(979)
(706)Inventory(813)
(813)Other current assets(469)
(125)Accounts payable and accrued liabilities(1,155)
397Contract liabilities94
373Other operating activities, net89
(147)Net cash flows provided by operating activities1,855
1,305Investing Activities:
Capital expenditures(546)
(513)Increase in other intangible assets(98)
(104)Receipts (payments) from settlements of derivative contracts, net72
(47)Other investing activities, net(36)
(14)Net cash flows used in investing activities(608)
(678)Financing Activities:
Repayment of long-term debt(500)
(9)Dividends paid(915)
(840)Repurchase of common stock—
(50)Other financing activities, net(425)
(157)Net cash flows used in financing activities(1,840)
(1,056)Effect of foreign exchange rate changes on cash and cash equivalents(6)
16Net decrease in cash, cash equivalents and restricted cash(599)
(413)Cash, cash equivalents and restricted cash, beginning of period7,470
5,606Cash, cash equivalents and restricted cash, end of period6,871
5,193Less: Restricted cash, included in Other assets, current and Other assets53
36Cash and cash equivalents, end of period$ 6,818
$ 5,157RTX CorporationReconciliation of Adjusted (Non-GAAP) Results Adjusted Sales, Adjusted Operating Profit (Loss) & Operating Profit (Loss) Margin
Quarter Ended March 31,
(Unaudited)(dollars in millions - Income (Expense))2026
2025Collins Aerospace
Net sales$ 7,602
$ 7,217Operating profit$ 1,307
$ 1,088Restructuring9
(113)Segment and portfolio transformation and divestiture costs (1)—
(26)Adjusted operating profit$ 1,298
$ 1,227Adjusted operating profit margin17.1 %
17.0 %Pratt & Whitney
Net sales$ 8,173
$ 7,366Operating profit$ 710
$ 580Restructuring(1)
(10)Adjusted operating profit$ 711
$ 590Adjusted operating profit margin8.7 %
8.0 %Raytheon
Net sales$ 6,945
$ 6,340Operating profit$ 841
$ 678Restructuring(4)
—Adjusted operating profit$ 845
$ 678Adjusted operating profit margin12.2 %
10.7 %Eliminations and Other
Net sales$ (644)
$ (617)Operating profit $ 38
$ 12Corporate expenses and other unallocated items
Operating loss$ (42)
$ (38)Restructuring(1)
(9)Adjusted operating loss$ (41)
$ (29)FAS/CAS Operating Adjustment
Operating profit$ 172
$ 185Acquisition Accounting Adjustments
Operating loss$ (471)
$ (470)Acquisition accounting adjustments(471)
(470)Adjusted operating loss$ —
$ —RTX Consolidated
Net sales$ 22,076
$ 20,306Operating profit $ 2,555
$ 2,035Restructuring3
(132)Acquisition accounting adjustments(471)
(470)Total net significant and/or non-recurring items included in Operating profit above (1)—
(26)Adjusted operating profit$ 3,023
$ 2,663(1)Refer to "Non-GAAP Financial Adjustments" below for a description of these adjustments.RTX CorporationReconciliation of Adjusted (Non-GAAP) Results Adjusted Income, Earnings Per Share, and Effective Tax Rate
Quarter Ended March 31,
(Unaudited)(dollars in millions - Income (Expense))2026
2025Net income attributable to common shareowners$ 2,059
$ 1,535Total Restructuring3
(132)Total Acquisition accounting adjustments(471)
(470)Total net significant and/or non-recurring items included in Operating profit (1)—
(26)Significant and/or non-recurring items included in Non-service Pension Income
Non-service pension restructuring(2)
—Significant non-recurring and non-operational items included in Interest Expense, Net
Tax audit settlements and closures (1)—
43International tax matter (1)—
(35)Tax effect of restructuring and net significant and/or non-recurring items above104
138Significant and/or non-recurring items included in Income Tax Expense
Tax audit settlements and closures (1)—
26Less: Impact on net income attributable to common shareowners(366)
(456)Adjusted net income attributable to common shareowners$ 2,425
$ 1,991
Diluted Earnings Per Share$ 1.51
$ 1.14Impact on Diluted Earnings Per Share(0.27)
(0.33)Adjusted Diluted Earnings Per Share$ 1.78
$ 1.47
Effective Tax Rate 14.4 %
17.0 %Impact on Effective Tax Rate (1.2) %
(2.3) %Adjusted Effective Tax Rate 15.6 %
19.3 %(1)Refer to "Non-GAAP Financial Adjustments" below for a description of these adjustments.RTX CorporationReconciliation of Adjusted (Non-GAAP) Results Segment Operating Profit Margin and Adjusted Segment Operating Profit Margin
Quarter Ended March 31,
(Unaudited)(dollars in millions)2026
2025Net Sales$ 22,076
$ 20,306Reconciliation to segment net sales:
Eliminations and other644
617Segment Net Sales$ 22,720
$ 20,923
Operating Profit$ 2,555
$ 2,035Operating Profit Margin11.6 %
10.0 %Reconciliation to segment operating profit:
Eliminations and other(38)
(12)Corporate expenses and other unallocated items42
38FAS/CAS operating adjustment(172)
(185)Acquisition accounting adjustments471
470Segment Operating Profit$ 2,858
$ 2,346Segment Operating Profit Margin12.6 %
11.2 %Reconciliation to adjusted segment operating profit:
Restructuring 4
(123)Net significant and/or non-recurring items (1)—
(26)Adjusted Segment Operating Profit$ 2,854
$ 2,495Adjusted Segment Operating Profit Margin12.6 %
11.9 %(1)Refer to "Non-GAAP Financial Adjustments" below for a description of these adjustments.RTX CorporationFree Cash Flow Reconciliation
Quarter Ended March 31,
(Unaudited)(dollars in millions)2026
2025Net cash flows provided by operating activities$ 1,855
$ 1,305Capital expenditures(546)
(513)Free cash flow $ 1,309
$ 792RTX CorporationReconciliation of Adjusted (Non-GAAP) Results Organic Sales Reconciliation
Quarter ended March 31, 2026 compared to the Quarter Ended March 31, 2025
(Unaudited)(dollars in millions)Total Reported
ChangeAcquisitions &
Divestitures
ChangeFX / Other
Change (2)Organic Change
Prior Year
Adjusted Sales (1)Organic Change
as a % of
Adjusted SalesCollins Aerospace$ 385$ (383)$ 40$ 728
$ 7,21710 %Pratt & Whitney807—37770
7,36610 %Raytheon605—17588
6,3409 %Eliminations and Other (3)(27)13(31)(9)
(617)1 %Consolidated$ 1,770$ (370)$ 63$ 2,077
$ 20,30610 %(1)For the full Non-GAAP reconciliation of adjusted sales refer to "Reconciliation of Adjusted (Non-GAAP) Results - Adjusted Sales, Adjusted Operating Profit & Operating Profit Margin."(2)Includes other significant non-operational items and/or significant operational items that may occur at irregular intervals.(3)FX/Other Change includes the transactional impact of foreign exchange hedging at Pratt & Whitney Canada, which is included in Pratt & Whitney's FX/Other Change, but excluded for Consolidated RTX.Non-GAAP Financial AdjustmentsNon-GAAP AdjustmentsDescriptionSegment and portfolio transformation and divestiture costsThe quarter ended March 31, 2025 includes separation costs incurred in advance of the completion of certain divestitures.Tax audit settlements and closuresThe quarter ended March 31, 2025 includes a tax benefit of $26 million and a pre-tax benefit on the reversal of $43 million of interest accruals, both recognized as a result of the closure of the examination phase of multiple state tax audits. International tax matter During the quarter ended March 31, 2025, the Company recorded the impact of an unfavorable decision related to an international tax matter for the years ended December 31, 2015 to December 31, 2019, resulting in interest expense, net of $35 million and a tax benefit of $8 million. Management has determined that the nature of this impact related to the tax matter is considered significant and non-operational, and, therefore, not indicative of the Company's ongoing operational performance.Media Contact
202.384.2474Investor Contact
781.522.5123
View original content:https://www.prnewswire.com/news-releases/rtx-reports-q1-2026-results-302748514.htmlSOURCE RTX
Original: RTX Reports Q1 2026 Results
US Market News
4月前
China's Rare Earth Grip on the U.S. Military Is About to BreakMarch 2, 2026 9:58 AM
PR Newswire (Canada)
OilPrice.com Market CommentaryNEW YORK, March 2, 2026 /CNW/ -- In a typical Chinese rare earth processing plant, 200 workers move through a maze of massive chemical tanks, risking life and limb to produce the materials that power everything from fighter jets and missile components to cellphones. Hundreds of these facilities operate across China, and they give Beijing overwhelming control over the single most critical choke point in the modern industrial economy. Companies mentioned in this release include: REalloys Inc. (ALOY), Lockheed Martin Corporation (NYSE: LMT), RTX Corporation (NYSE: RTX), The Boeing Company (NYSE: BA), Northrop Grumman Corporation (NYSE: NOC), General Dynamics Corporation (NYSE: GD).But now, in Saskatchewan, Canada, a hi-tech plant of engineers and chemists is beginning to break that monopoly.The facility is built around an AI enabled operating system that minimizes waste, reduces exposure to hazardous materials, and creates a cleaner, more secure processing chain.And one company has locked in exclusive rights to the vast majority of what that plant produces. That company is REalloys (ALOY).It operates in the part of the rare earth supply chain that barely exists outside China - the step where strategic independence is actually won or lost.As President Trump pointed out, it isn't rare earths that are critical to national security, it's the "rare processing" industry.Digging minerals out of the ground is relatively easy. Turning them into finished metals and alloys for fighter jets, drones, missile guidance systems, and advanced radar is something else entirely. That's where Western supply chains break down, and where REalloys is fighting to make a difference.The company operates its own metallization facility in Euclid, Ohio, built on nearly a decade of R&D with the U.S. Department of Energy and Department of Defense. It also holds an exclusive offtake agreement with the Saskatchewan Research Council (SRC), the government-backed group behind the AI-powered processing plant.Here's how the chain works: SRC refines rare earth feedstock sourced from allied nations across four continents. REalloys takes delivery in Ohio, converts those metals into defense-grade alloys and magnets, and has confirmed contracts with the U.S. defense industrial base.Every critical step happens on North American soil - with no Chinese chemicals, no Chinese technology, and no Chinese capital.As REalloys' Head of R&D, Andy Sherman, puts it: "Concentrates are commodities. Materials are commitments."The Pentagon doesn't buy rocks. It buys finished, defense-qualified materials.And that's exactly what this supply chain delivers.How China Accidentally Created Its Biggest CompetitionWhen REalloys (ALOY) processing partner began developing its first commercial rare earth separation facility, China controlled the overwhelming majority of global export technology. Following China's 2020 export control law, access to that technology became restricted.So the team ultimately designed and built its own separation, control and automation systems domestically – establishing independent Western rare earth processing capability.What they ended up with was an alternative to Chinese technology with better output and without the supply chain risk. As a result, the facility has automated the most labor-intensive step of rare earth processing, separating up to 17 chemically similar elements into the specific rare earths you need.In a Chinese plant, this process requires over 200 workers managing chemical tanks and adjusting valves manually. The Saskatchewan facility was able to reduce this by approximately 80 workers and an AI that receives thousands of data points every second and can make the necessary adjustments that no human team could coordinate.The plant was deliberately built at about 25-30% the capacity of a full-scale Chinese commercial facility, essentially a demonstration plant to prove the technology. At a fraction of the size, however, it already has the capability to produce much higher purity metals and higher output than Chinese plants.Commercial production is expected to start in early 2027, once the plant reaches full production REalloys (ALOY) expects to receive approximately 460 tonnes of defense-grade rare earth metals per year. That material becomes the permanent magnets inside the next generation of Western defense systems like fighter jets, missiles, and drones.Why This Matters Right NowMost people have heard that China dominates the rare earths market, about 90% of the world's rare earths are processed there. What they haven't thought through is what that actually means when the supply gets cut off.Japan figured this out decades ago and built strategic stockpiles covering two to three years of national consumption. The United States, however, has stockpiled nothing. Neither has Europe.We've been running on just-in-time supply from a country that issues rare earth export licenses on a monthly basis. If Beijing is happy with you this month, you get your allocation. If they're not, they cut it.When China briefly restricted exports last year, a Ford plant was forced to shut down almost immediately. When Trump threatened 100% tariffs, China's response was simple: no more processed rare earths. Trump backed off very quickly.Now consider the effects on the military side. In 2024, Ukraine produced 1.2 million combat drones, every single magnet in every one of them was manufactured in China. An F-35 carries 435 kilos of rare earths. A next-gen U.S. destroyer needs 4.5 tons. A nuclear submarine needs 1.5 tons.Without a secure supply of these materials, none of those systems get built, which means China effectively holds a kill switch over Western defense production.The Pentagon knows it, too. That's why new procurement rules taking effect January 1, 2027, will ban Chinese-sourced rare earths from the entire U.S. defense supply chain, from the mine all the way through to the finished product. That means every defense contractor in the country will need a qualified, non-Chinese source. REalloys is positioning to be that source."1% Reliance on China Is 100% Reliance on China"There's a reality in the rare earth industry that most companies haven't seemed to fully consider: 1% reliance on China is 100% reliance on China. If any single input in your supply chain comes from Beijing, your entire operation is one phone call away from shutting down. REalloys' (ALOY) supply chain has no Chinese inputs at any stage, processing technology, furnaces, chemicals, AI systems, or consumables. All of it is sourced outside China.Most of the competition can't say the same. You can mine rare earths in the U.S., build your own processing plant, and still be one supply disruption away from a shutdown. That's because critical parts like graphite anodes need replacing several times a week, and right now they only come from China. Starting from zero, it would realistically take five to seven years to build what REalloys already has.What Makes This Opportunity DifferentREalloys has exclusive rights to defense-grade rare earth metals through the Saskatchewan facility, including the heavy rare earths, Dysprosium and Terbium, that dramatically increase a magnet's performance. Light rare earths go into washing machines and consumer EVs. Heavy rare earths, on the other hand, go into F-35 fighter jet engines and missile guidance systems. REalloys plays the scarcer, more strategically critical end of the market, at a fraction of the valuation.Their Ohio facility converts those metals into finished alloys and magnets, and scaled production is expected to scale up to 18,000 tonnes per year of heavy rare earth permanent magnets. At that level, REalloys expects to become the largest producer of refined Dysprosium and Terbium outside of China.Washington has taken notice as well. REalloys has secured a $200 million letter of intent from the U.S. EXIM Bank. And the board reads less like a commodities company and more like a national security briefing, including a former Vice Chief of Staff of the U.S. Army, the President of GM Defense, an executive formerly from top defense companies like Raytheon and Boeing, the former Premier of Saskatchewan, and the President of Palantir Canada.The Pentagon's deadline is now months away, while competitors are still 5 to 7 years behind. REalloys (ALOY) expects to be the only company with a fully operational, non-Chinese, mine-to-magnet supply chain when it arrives, powered by six people and an AI that outperforms plants with 80 workers on the floor.Despite what most believe, the rare earth story was never about who has the raw material in the ground. It's about who can turn the raw material into something the Pentagon can actually use, and right now, that answer seems to be REalloys.Here are other companies in the defense sector that people should be watching closely over the coming months:Lockheed Martin Corporation (NYSE: LMT) remains the backbone of the U.S. defense industrial base, anchored by its leadership in advanced combat aircraft, missile systems, and integrated air and missile defense. The company's F-35 Lightning II program continues to serve as the single largest weapons system program in the world, supplying not only the U.S. military but also a growing list of allied nations.Beyond fighter jets, Lockheed is deeply embedded in missile defense architecture through systems such as THAAD and PAC-3 interceptors, both of which have seen rising demand amid renewed Middle East and Indo-Pacific tensions.RTX Corporation (NYSE: RTX), formed from the merger of Raytheon and United Technologies, has evolved into one of the most diversified defense and aerospace platforms globally. Its portfolio spans missile defense systems, advanced radars, aircraft engines, avionics, and cybersecurity solutions, giving it exposure across air, land, sea, and space domains.Raytheon's Patriot missile system remains one of the most widely deployed air defense platforms worldwide and has seen renewed demand amid heightened missile threats. RTX has also benefited from increased orders for interceptors and replenishment contracts, particularly as governments seek to strengthen layered defense systems.The company has recently focused on stabilizing margins following supply chain disruptions and cost overruns that impacted certain aerospace programs. With backlog levels remaining robust, RTX's revenue visibility remains strong, supported by long-term government contracts and allied defense procurement.While The Boeing Company (NYSE: BA) is widely known for commercial aviation, its defense, space, and security division remains a cornerstone of U.S. military procurement. The company manufactures the P-8 Poseidon maritime patrol aircraft, the KC-46 aerial refueling tanker, Apache helicopters, and various satellite and space systems critical to U.S. defense infrastructure.As geopolitical tensions elevate demand for surveillance, refueling capacity, and integrated aerospace systems, Boeing's defense division provides an important stabilizing component to the broader company profile. While commercial aviation cycles remain volatile, Boeing's defense segment ensures long-duration contract visibility and sustained Pentagon exposure.Northrop Grumman Corporation (NYSE: NOC) occupies a critical role in high-end aerospace and strategic systems. The company is the prime contractor for the B-21 Raider stealth bomber, one of the most strategically significant modernization programs in the U.S. Air Force's history. That program alone provides decades of potential production and sustainment revenue.Northrop also leads in unmanned aerial systems, missile defense integration, and space-based sensor technologies. Its exposure to next-generation aerospace and advanced stealth platforms places it at the center of U.S. long-term deterrence strategy.General Dynamics Corporation (NYSE: GD) combines shipbuilding, combat vehicles, aerospace, and IT systems under one diversified umbrella. The company's Electric Boat division produces Virginia-class submarines and Columbia-class ballistic missile submarines — programs that anchor U.S. naval deterrence.Recent submarine contracts extend production visibility well into the next decade, while geopolitical tensions continue to emphasize naval force projection and undersea capability. GD's land systems division.By. Tom KoolIMPORTANT NOTICE AND DISCLAIMER FORWARD LOOKING STATEMENTS
This publication contains forward-looking statements, including statements regarding expected continual growth of the featured companies and/or industry. The Publisher notes that statements contained herein that look forward in time, which include everything other than historical information, involve risks and uncertainties that may affect the companies' actual results of operations. Factors that could cause actual results to differ include, but are not limited to, changing governmental laws and policies concerning, among other things, recreational and medical cannabis sales, success of the company's proprietary technology, the size and growth of the market for the company's products and services, the company's ability to fund its capital requirements in the near term and long term, pricing pressures, etc. SHARE OWNERSHIP
Neither the author nor the publisher, Oilprice.com, was paid to publish this communication concerning REalloys (ALOY). However, the owner of Oilprice.com owns shares and/or stock options of the featured company and therefore has an incentive to see the featured company's stock perform well. The owner of Oilprice.com may buy or sell shares of the featured company at any time including at or near the time you receive this communication. This share ownership should be viewed as a major conflict with our ability to be unbiased. This is why we stress that you conduct extensive due diligence as well as seek the advice of your financial advisor or a registered broker-dealer before investing in any securities.This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security. Neither this communication nor the Publisher purport to provide a complete analysis of any company or its financial position. The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser. This communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company's SEC, SEDAR and/or other government filings. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. This communication is based on information generally available to the public and does not contain any material, non-public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher cannot guarantee the accuracy or completeness of the information.INDEMNIFICATION/RELEASE OF LIABILITY
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View original content:https://www.prnewswire.com/news-releases/chinas-rare-earth-grip-on-the-us-military-is-about-to-break-302701143.htmlSOURCE OilPrice.com
Original: China's Rare Earth Grip on the U.S. Military Is About to Break
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