GTF powder metal issues impact RTX full year results  

RTX, parent company of aero engine manufacturer Pratt & Whitney (P&W), has reported sales of $68.9bn for the full year 2023, up 3% from 2022, but something which the company says reflects ‘the impact of the previously disclosed Pratt powder metal matter’. This issue with GTF engine components (where defective powder metal is potentially compromising high-pressure turbine discs produced by the company) has also affected RTX’s GAAP EPS for 2023, which is down 36% from the previous year at $2.23. Pratt & Whitney (one of RTX’s three subsidiaries) produces PW1100 geared turbofan (GTF) engines for commercial applications including the A320neo