Latest news with #RTX
Yahoo
3 hours ago
- Business
- Yahoo
Trustco Bank Corp N Y (TRST) Q2 2025 Earnings Call Highlights: Strong Net Income Growth and ...
Net Income: $15 million for the quarter, a 19.8% increase over the prior-year quarter. Year-to-Date Net Income: Nearly $30 million. Return on Average Assets: 0.96% for the second quarter of 2025. Return on Average Equity: 8.73% for the second quarter of 2025. Net Interest Income: $41.7 million, a 10.5% increase compared to the prior-year quarter. Net Interest Margin: 2.71%, up 18 basis points from the prior-year quarter. Average Loans: Grew 2.3% or $115.6 million to $5.1 billion. Home Equity Loans: Increased by $64.7 million or 17.8% year over year. Commercial Loans: Increased by $25.8 million or 9.2% year over year. Total Deposits: $5.5 billion, up $213 million compared to the prior-year quarter. Book Value Per Share: $36.75, up 6.6% from $34.46 a year earlier. Non-Interest Income from Wealth Management: Increased 13% to $1.8 million. Non-Interest Expense: $25.7 million, down $600,000 from the prior-year quarter. Allowance for Credit Losses: $51.3 million with a coverage ratio of 286%. Warning! GuruFocus has detected 10 Warning Signs with RTX. Release Date: July 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Trustco Bank Corp N Y (NASDAQ:TRST) reported a net income of $15 million for the quarter, marking a 19.8% increase over the prior-year quarter. The company achieved a significant margin expansion, with a 7% increase compared to the previous year. Home equity products saw an 18% year-over-year increase, demonstrating strong demand and effective product offerings. The commercial loan portfolio grew by 11% over the past year, contributing to overall loan growth. Trustco Bank Corp N Y (NASDAQ:TRST) maintained strong asset quality with net recoveries for the second consecutive quarter and a decrease in non-performing loans. Negative Points The cost of interest-bearing liabilities decreased only slightly, indicating potential pressure on net interest margins. Installment loans decreased by $2.9 million over the same period in the previous year. Non-interest expense, specifically ORE expense, increased to $522,000 compared to $16,000 in the prior-year quarter. The provision for credit losses was $650,000, indicating a need to account for potential future credit risks. Despite strong performance, the company faces ongoing challenges in maintaining competitive deposit offerings amidst a changing interest rate environment. Q & A Highlights Q: The strong local demand you mentioned, is it present in Florida as well as in the Northeast? A: Yes, the strong demand is across our markets. Florida has shown better demand, but we have also experienced strong local demand in the Northeast. - Robert McCormick, CEO Q: What is the rate for maturing CDs in the next quarter compared to the ones currently being issued? A: The average rate for maturing CDs is about 3.91%. Currently, the highest rate we are offering is 4% for a three-month term. - Michael Ozimek, CFO Q: Regarding future CD maturities, how do the rates compare? A: In future quarters, particularly Q4 and Q1 of next year, the rates for maturing CDs are lower, around the 3.60% range, which will allow us to gain more ground. - Robert McCormick, CEO Q: What types of borrowers are you lending to in the commercial loan growth, and what is the mix between secured and unsecured loans? A: Over 90% of our commercial loans are real estate-related, including smaller multifamily projects and small office offerings. The vast majority of these loans are secured by real estate. - Robert McCormick, CEO Q: Can you provide more details on the commercial loan portfolio's security? A: The commercial loan portfolio is predominantly secured by real estate, with a focus on smaller multifamily and office projects, both owner-occupied and investment properties. - Robert McCormick, CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Time of India
5 hours ago
- Business
- Time of India
Traders accumulate Solana, Remittix and Dogecoin as Smart Money waits for Ethereum rally to cool
Academy Empower your mind, elevate your skills Real-world utility: Crypto-to-fiat payouts in over 30 countries Crypto-to-fiat payouts in over 30 countries Low gas fee crypto project: Built for speed and affordability Built for speed and affordability Deflationary tokenomics: Long-term holder value baked in Long-term holder value baked in $250,000 Giveaway: Early backers get exclusive rewards and bonuses As Ethereum's explosive rally takes a breather, traders are rotating into faster-moving altcoins. Three tokens are seeing a clear spike in accumulation: Solana, Dogecoin, and a new low-cap decentralised finance (DeFi) project called Remittix , all showing signs of fresh momentum in early Solana price has quietly reclaimed its uptrend. The Solana price is hovering above $145, with several on-chain indicators confirming inflows from both institutional and retail wallets. Over 70% of holders are in profit, yet volume is still rising. That suggests buyers believe there's more upside low fees, fast settlement times, and the growing non-fungible token (NFT) and gaming ecosystem have helped it rebound from its 2022 lows. Analysts* now believe a breakout above $160 could put the Solana price at $200, a key level that previously acted as resistance in late are now calling Solana one of the best cryptos to buy now for long-term upside, especially with smart contract activity picking up continues to surprise skeptics. After dipping below $0.12, DOGE bounced back fast and is now trading above $0.13. The Dogecoin price* has seen support from whales and community-led social media surges, a pattern that often precedes a simplicity, combined with renewed Elon Musk hype around potential X integrations, is pulling in meme coin traders once more. Some analysts are whispering $1 targets again, especially if DOGE gets tied to broader payment while DOGE rides sentiment, another altcoin is gaining real traction, with actual utility baked (RTX) is quickly becoming a standout in 2025's DeFi project wave. It's not another hype coin. It's a payments-focused platform that lets users send crypto directly to FIAT bank accounts in over 30 countries, within to serve freelancers, global workers, and crypto-native users looking for real off-ramp options, Remittix is being backed as the best crypto presale 2025 by several mobile-first wallet launches this quarter. More than $16.6 million has already been raised, and the project is audited by CertiK, a blockchain security isn't a long-shot token. It's a working platform with an active user base and a rapidly growing can still buy RTX token during the active sale, with a 50% bonus live now, a rare opportunity before exchange listings next big altcoin 2025 might not come from the top 10. It could be something building quietly, solving real problems, and offering serious upside for early and DOGE still have legs, but Remittix is positioning itself as the breakout utility token of this cycle. With the wallet launch around the corner and real payment rails already in place, smart traders are locking in their positions now, before the crowd catches the future of PayFi with Remittix by checking out their presale here:support@
Yahoo
17 hours ago
- Business
- Yahoo
Why RTX Stock Is Down Today
Key Points RTX beat expectations but lowered full-year guidance due to tariffs. The company had telegraphed the tariff effect, and RTX's long-term bull case remains in place. 10 stocks we like better than RTX › Aerospace conglomerate RTX (NYSE: RTX) beat quarterly expectations but warned today that tariffs and taxes will take their toll in the quarters to come. The stock is under pressure on Tuesday and is down 2% as of 12:30 ET. Strong commercial sales RTX was formed from the merger of defense-focused Raytheon and the largely commercial aerospace business of United Technologies. It earned $1.56 per share in the second quarter on revenue of $21.6 billion, topping Wall Street's consensus estimate for $1.43 per share on $20.6 billion in sales. Revenue was up 9% year over year, driven by strong double-digit growth on the commercial side. RTX and other commercial aerospace companies are benefiting from issues getting new planes to market, which has boosted demand for spare parts. The company's Pratt & Whitney aircraft engine business grew sales by 19% in the quarter, while its defense business was up 6%. The only issue was guidance. Management hiked its full-year sales guidance by nearly $2 billion to a range of $84.75 billion to $85.5 billion, above the $84.3 billion consensus. But guidance for earnings per share was reduced to a range of $5.80 to $5.95, from $6 to $6.15, on tariff impact and tax estimate revisions. Is RTX stock a buy? The new earnings guidance should not have come as a surprise. In its previous estimate, RTX had warned of upward of a $0.50 per share effect from tariffs. The new guidance is an attempt to be more precise, baking the impact into the forecast. Pratt & Whitney is a formidable franchise, and with a commercial-plane backlog stretching to near the end of the decade, there is a lot of potential for sales growth from here. Investors shouldn't dwell on the guidance revision when considering RTX stock. Do the experts think RTX is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did RTX make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,055% vs. just 180% for the S&P — that is beating the market by 874.27%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $665,092!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,050,477!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool recommends RTX. The Motley Fool has a disclosure policy. Why RTX Stock Is Down Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
- Business
- Yahoo
RTX (RTX) Reports Strong Q2 Earnings With US$22 Billion Sales And US$2 Billion Net Income
RTX recently announced impressive quarterly and six-month results, with significant increases in sales and net income, possibly contributing to a 33% rise in its stock last quarter. These financial results align positively with the broader market, which has seen substantial earnings growth. Additionally, the introduction of new products and strategic alliances may have bolstered investor confidence. While the S&P 500 and Nasdaq had minor fluctuations, RTX's performance was buoyed by strong corporate earnings, counteracting the mixed trading sentiment elsewhere. Events such as dividend increases and new contracts likely supported the positive movement in RTX's stock value. We've identified 3 warning signs for RTX (1 is a bit unpleasant) that you should be aware of. Explore 26 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research. RTX's recent announcement of substantial sales and net income growth could significantly impact its long-term narrative, indicating robust operations and potential revenue stability. Over the past five years, RTX's total return, which includes both share price and dividends, was 180.01%. This impressive long-term performance provides context to the more recent quarterly stock increase amid the broader positive market sentiment. In the last year, RTX outperformed both the US market and the Aerospace & Defense industry, showcasing its resilience and market positioning. The recent earnings report and strategic product introductions could further bolster revenue and earnings forecasts, supporting analysts' expectations for continued growth. These developments might lead to increased operational efficiencies and improved profit margins, aligning with the forecasts of reaching earnings of US$8.5 billion by 2028. The current share price of US$151.56 exceeds the consensus analyst price target of US$150.29. This deviation may suggest that analysts are cautious but also implies potential optimism in the company's future performance. Given the company's ongoing investments in innovation and manufacturing, the recent news could positively influence long-term earnings, reinforcing the narrative of sustained growth and profitability in a competitive industry. Gain insights into RTX's historical outcomes by reviewing our past performance report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include RTX. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Yahoo
19 hours ago
- Business
- Yahoo
RTX Lifts Sales Outlook On Strong Backlog, Segment Growth
RTX Corp. (NYSE:RTX) shares traded lower Tuesday, even after the company reported stronger-than-expected results for the second quarter of fiscal 2025 and raised its full-year sales forecast. The company posted net sales of $21.58 billion, a 9% increase from a year earlier, beating analyst estimates of $20.66 billion. Adjusted earnings per share rose 11% to $1.56, topping the consensus estimate of $1.45. GAAP earnings came in at $1.22 per share, which included acquisition accounting adjustments and restructuring-related income attributable to common shareowners was $1.7 billion. Adjusted net income climbed to $2.1 billion, up 12% from the year-ago period. Operating cash flow for the quarter totaled $500 million, while free cash outflow came in at $100 million, impacted by a four-week work stoppage at the company's Pratt & Whitney unit. View more earnings on RTX The company ended the quarter with a backlog of $236 billion, including $144 billion in commercial and $92 billion in defense. It returned $900 million to shareholders and raised its quarterly dividend by 8%. RTX also announced a deal to sell Collins' Simmonds Precision Products business for $765 million. CEO Chris Calio highlighted broad-based strength, 'We continued our momentum in the second quarter with organic sales and profit growth across all three segments, including 16% commercial aftermarket growth.' He added that major wins for geared turbofan engines and integrated air and missile defense programs helped drive the backlog to new highs. Segment Highlights Collins Aerospace reported sales of $7.622 billion (+9% YoY), with adjusted operating profit up 9% to $1.25 billion. Higher commercial aftermarket and defense volumes, plus lower R&D spending, helped offset unfavorable commercial OE mix and tariff impacts. Pratt & Whitney delivered $7.63 billion in sales, up 12% year-over-year. Despite a reported operating profit drop (due to a $100 million charge from a customer bankruptcy), adjusted operating profit rose 13% to $608 million, driven by commercial aftermarket growth and favorable OE mix. Raytheon saw $7.00 billion in reported sales, up 8% year-over-year, with growth from Patriot, NASAMS, and naval programs. Adjusted operating profit rose 14% to $809 million, boosted by a favorable program mix and higher volumes. Outlook RTX raised its full-year adjusted sales guidance to $84.75 billion-$85.50 billion versus the consensus of $84.26 billion, up from a prior range of $83.0 billion-$84.0 billion. It now expects 6–7% organic sales growth, versus 4-6% previously. The company lowered its full-year adjusted EPS guidance to $5.80-$5.95, down from $6.00-$6.15, versus the Street estimate of $5.95. The company maintained its free cash flow outlook of $7.0 billion-$7.5 billion. Calio said the updated forecast reflects strong operational performance in the first half and incorporates the expected impact of tariffs and recent tax legislation. 'We remain well positioned to drive long-term profitable growth,' he added. Price Action: RTX shares are trading lower by 3.26% to $146.68 at last check Tuesday. Read Next:Photo by T. Schneider via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? RTX (RTX): Free Stock Analysis Report This article RTX Lifts Sales Outlook On Strong Backlog, Segment Growth originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
