Strong results at Pratt & Whitney buoyed earnings at parent company Raytheon in the second quarter, but the company cut its 2025 profit forecast because of the projected effects of tariffs. The East Hartford jet engine maker reported sales of $7.6 billion, up 12% versus the same period in 2024, despite the four-week work stoppage […]
Strong results at Pratt & Whitney buoyed earnings at parent company Raytheon in the second quarter, but the company cut its 2025 profit forecast because of the projected effects of tariffs.
The East Hartford jet engine maker reported sales of $7.6 billion, up 12% versus the same period in 2024, despite the four-week work stoppage that occurred in the quarter. Pratt had not seen a strike in some 20 years.
The sales growth was driven by a 19% increase in commercial aftermarket business and a 15% increase in commercial engine sales.
Military sales were flat because of lower volume on the F135 engine.
Despite the strong sales, operating profit was down 9% (to $492 million) versus the prior year largely due to a charge of approximately $100 million related to a customer bankruptcy, and the effects of tariffs. On an adjusted basis, Pratt said it reported an operating profit of $608 million during the second quarter, up 14% from the previous year.
Raytheon’s overall results for the quarter beat Wall Street’s revenue and profit expectations. However, the company trimmed its full-year forecast.
"Our updated outlook reflects strong operational performance in the first half and incorporates our current assessment of the impact of tariffs,” said CEO Chris Calio. “We are focused on delivering on the strong growth in our commercial and defense end markets and remain well positioned to drive long term profitable growth."
