Exhibit 99

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Raytheon Technologies Reports
Fourth Quarter 2020 Results, Announces 2021 Outlook

Exceeded 2020 cash conservation commitments

Fourth quarter 2020
Sales of $16.4 billion; Adjusted sales of $16.6 billion
GAAP EPS from continuing operations of $0.10, which included $0.64 of net significant and/or non-recurring charges and acquisition accounting adjustments
Adjusted EPS of $0.74
Operating cash flow from continuing operations of $1.4 billion; Free cash flow of $747 million
Achieved $1.8 billion in cash conservation and $700 million in cost reduction actions
Robust defense backlog of $67.3 billion

Outlook for full year 2021
Sales of $63.4 - $65.4 billion
Adjusted EPS of $3.40 - $3.70
Free cash flow of approximately $4.5 billion
Authorized a $5 billion share repurchase program in December; plan to repurchase at least $1.5 billion of shares in 2021

WALTHAM, Mass., January 26, 2021 – Raytheon Technologies Corporation (NYSE: RTX) reported fourth quarter 2020 and full year 2020 results, and announced its 2021 outlook.

“We closed the year on a strong note with fourth quarter sales, EPS and free cash flow exceeding our expectations, as we delivered on our customer commitments and drove strong execution against our cost and cash actions,” said Raytheon Technologies CEO Greg Hayes. “As a result, we delivered $2.3 billion in pro forma free cash flow for the year which includes $800 million of discretionary pension contributions.”

Hayes continued, “In 2021, our strategy of harnessing next generation technologies across our resilient and balanced portfolio will continue to drive differentiated value for customers and advance our industry leadership for years to come. Combined with our recent structural actions, we’re well positioned for sustainable growth and profitability in 2021 and beyond, and remain committed to returning $18 to $20 billion to shareowners in the four years following the merger.”

Raytheon Technologies reported fourth quarter sales of $16.4 billion and adjusted sales of $16.6 billion. GAAP EPS from continuing operations was $0.10 and included $0.64 of net significant and/or non-recurring charges and acquisition accounting adjustments. This includes $0.29 of acquisition accounting adjustments primarily related to intangible amortization, $0.29 for an adjustment associated with certain Middle East contracts which are subject to




1
See “Use and Definitions of Non-GAAP Financial Measures” below for information regarding non-GAAP financial measures.

The following information was filed by Raytheon Technologies Corp (RTX) on Tuesday, January 26, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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