RTX Stock Hits Record High on Adjusted Earnings Beat, Guidance Boost [Video]

RTX Corporation (RTX) shares jumped to a record high Thursday after the aerospace and defense manufacturer posted an adjusted earnings beat for the second quarter and lifted its full-year guidance amid “unprecedented demand” for its products.

RTX, which consists of defense giant Raytheon along with aerospace manufacturers Pratt & Whitney and Collins Aerospace, reported an 8% year-over-year increase in sales to $19.72 billion.

The company reported just $111 million in profits for the quarter due to over $1.7 billion in one-time charges like expected resolutions to lawsuits and government investigations, along with “acquisition accounting adjustments.” After adjusting for the one-time costs, RTX’s $1.9 billion in adjusted net income came in above analysts’ consensus expectations of $1.73 billion, per Visible Alpha.

RTX said that it was lifting its projections for its full-year performance, with adjusted sales increasing to a range of $78.75 billion to $79.5 billion from $78 billion to $79 billion. The company …