RTX Corporation (RTX) was the worst-performing stock in the S&P 500 on Tuesday after the former Raytheon Tecꩲhnologies warned a ꦺdefective jet engine part will require an “accelerated fleet inspection.”

The defense contractor indicated that its Pratt & Whitney division discovered a “rare condition in powder metal” used to make some engine parts. It added the problem doesn’t affect engines already in use. 

RTX📖 explained that it anticipates that because of the issue, a “significant portion” of the PW1✅100G-JM engine fleet will need accelerated removals and inspections within the next nine to 12 months, including about 200 accelerated removals by mid-September. The engine powers the Airbus A320neo.

The company noted that it’s taking steps to minimize the operati🅺onal impacts and is working to 💯support its customers.

CEO Greg Hayes said the problem has led RTX to cut its 2023 澳洲幸运5开奖号码历史查询:free cash flow estimate𒁏 by half a billion dollars to $4.3 billion. 

The news sent shares tumbling to a nine-month low, even as RTX reported better-than-expected second quarter results. Earnings per share (EPS) came in at $1.29, ꦿand sales jumped 12% to $18.23 billion. Both were more than analysts’ forecasts. 

The company also boosted the low end of its full-year EPS guidance to $4.95 to $5.05 from $4.90 to $5.05, and revenue to a range of $73 billion to $74 billion, up from $72 billion to $73 billion.