A soldier with Battery Echo, 62nd Air Defense Artillery Regiment, 69th Air Defense Artillery Brigade shows the members of the brigade staff around the training area developed specifically for the Terminal High Altitude Area Defense weapons system at Fort Hood, Texas. (Brandon Banzhaf/U.S. Army)
Aerospace and defense manufacturer RTX Corp. is “fully prepared” to support President Donald Trump’s ambitions to build an orbital missile defense system to protect the U,S.
Trump signed an executive order this week calling for the Pentagon to develop “an Iron Dome for America,” that would feature the creation and deployment of space-based interceptors to destroy missiles from foreign adversaries.
“This is what Raytheon is exceptionally good at doing” Neil Mitchill, chief financial officer at RTX, said in an interview. “So we are fully prepared to support the president’s ambitions there.”
“It would be a tremendous system and as you know, we play a role in the Iron Dome in Israel as well,” he added. RTX was previously known as Raytheon and maintains a business unit with that name.
RTX shares rose 5.3% as of 9:33 a.m. in New York, the biggest intraday gain since July 25.
The U.S. already operates the Defense Support Program, with satellites developed by manufacturer Northrop Grumman used to detect missile launches, space launches and nuclear detonations.
Satellites with an offensive capability were proposed by the Reagan administration in the 1980s but abandoned over cost and technological impediments.
Earnings beat
Mitchill made the comments while discussing the company’s fourth-quarter results, which surpassed expectations thanks to continuing demand for its military hardware and aircraft maintenance services.
Adjusted earnings last quarter were $1.54 a share, the company said in a statement. Analysts had predicted $1.39 on average. Adjusted revenue climbed to $21.6 billion, also beating expectations.
The Arlington, Virginia-based manufacturer gave a mixed forecast for 2025, projecting sales of no more than $84 billion, short of Wall Street’s estimates. Its guidance for profit and cash flow was roughly in line with expectations.
The report offered an early glimpse at how defense contractors plan to navigate an uncertain environment under Trump. Chief Executive Officer Chris Calio said in the statement that the company has “strong momentum” heading into this year, citing a $218 billion backlog.
RTX, which elevated Calio to the CEO position in May, has won several contracts in recent months including a $333 million U.S. Navy deal for missiles and a $946 million contract to supply Romania with additional Patriot air and missile defense systems.
With assistance from Anne Cronin.
