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CLAIM #52254 · RTX Corporation (RTX) · 2024Q1 earnings call · Apr 23, 2024 · due Dec 31, 2024

We still feel confident though that we'll hit 800 shop visit inductions on the V2500 for the full year.

Neil Mitchill · CFO

PENDING
graded after results covering Dec 31, 2024 are reported

How to check this claim

Look at: V2500 shop visit inductions, full year

It came true if: >= 800 shop visit inductions

Where: management commentary on Q4/full-year earnings call or investor materials

In context

here is risk to achieving the full year guidance, given the harder comps that play out for the rest of the year, given the 9% in the first quarter and low double digits expected for the full year? Neil Mitchill: Good morning, Myles. This is Neil. I'll start out, and Chris can add anything here. But a couple of things on the Pratt aftermarket. I think 9% aftermarket growth in the first quarter was largely as we expected. We took the first quarter to make sure that we started off on a strong foot with respect to the GTF aftermarket overhauls, and I'm sure Chris can provide a little more color there. In doing so, there was a little bit lighter material allocation to the V2500s. We're actually down a handful of shop visits year-over-year in the first quarter, a little bit -- around 175 or so. We still feel confident though that we'll hit 800 shop visit inductions on the V2500 for the full year. And so what we expect to play out over the remainder of the year is that we will see more and more of those shop visits come in. We'll also see the content on those shop visits increase. So we'll see better drop through on the legacy aftermarket. Back in January, we talked about the PW2000s and PW4000s. There's some puts and takes there. They largely offset for the year. So it's really about seeing that legacy aftermarket continue to grow. So full year, still expect low teens sort of growth in the aftermarket of Pratt and we're confident that we'll see the material flowing to support that. Chris Calio: Yeah, I mean, I guess the only thing I would add, Myles -- this is Chris -- is to Neil's point, we know we needed to come out of the gate strong on GTF MRO given the situation in the fleet

Verify independently

SEC filings for RTX · Claim quote is verbatim from the 2024Q1 earnings call.