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Investing.com -- Shares of Raytheon Technologies Corp (NYSE: NYSE:RTX) declined by as much as 2% today following remarks from Chairman and CEO Chris Calio at the 2025 Bernstein Strategic Decisions Conference. Calio addressed the financial repercussions of a recent strike at Pratt & Whitney, a subsidiary known for its aircraft engines, indicating a negative impact on the company’s second-quarter cash flow.
The three-week strike, which saw 3,000 U.S. workers at Pratt & Whitney’s Connecticut facilities halt operations, has affected the company’s ability to deliver jet engines. "There will be cash impact here in the second quarter," Calio stated during the conference on Wednesday. He projected the second quarter to result in break even to negative cash flow, a forecast that prompted a downturn in RTX’s stock performance in morning trading.
The CEO expressed confidence that despite the setback in the second quarter, the lost cash flow could be recuperated over the remainder of the year. This strike, however, has raised concerns among investors regarding the immediate financial health of the aerospace and defense giant, as reflected in the stock’s movement.
Pratt & Whitney IAM union workers ratified a new four-year collective bargaining agreement yesterday.