Two of the world’s largest defense contractors delivered standout second-quarter results on Thursday, sending shares sharply higher and reinforcing the sector’s robust demand outlook.
RTX Corp (formerly Raytheon Technologies) reported adjusted earnings per share of $1.89, topping the analyst estimate of $1.66 by $0.23. Revenue surged 14.5% year-over-year to $24.7 billion, well above the $22.88 billion consensus. The company’s total backlog swelled 22% to a colossal $289 billion, with $170 billion in commercial orders and $119 billion in defense. RTX also lifted its full-year EPS guidance to $7.10–$7.25 (from $6.70–$6.90) and revenue guidance to $95–$96 billion (from $92.5–$93.5 billion), projecting organic sales growth of 8–9%. Shares jumped 5.8% in premarket trading.
Lockheed Martin likewise crushed expectations, posting GAAP diluted EPS of $7.94 against a $7.09 consensus. Revenue climbed 11% to $20.06 billion, exceeding the $19.34 billion forecast. The standout metric was a record $230.4 billion backlog, boosted by new orders worth $65 billion in the quarter, including a $35 billion THAAD interceptor contract and a $3 billion GMLRS deal. Management raised 2026 EPS outlook to $29.95–$30.65 (from $29.35–$30.25) and revenue guidance to $79.75–$81.75 billion (from $77.5–$80.0 billion). Free cash flow rebounded to $2.9 billion.
Both results highlight accelerating global defense spending and commercial aerospace recovery. While the earnings are purely traditional-market events, they may reinforce broader investor risk appetite — a tone often reflected in crypto markets. For now, no specific cryptocurrency projects are directly impacted by these defense giants’ performances.
