Jet Engines Are Breaking Down. Their Manufacturers Are Raking In Cash.

Few industries do well when their products keep breaking down. Jet-engine makers are currently an exception—and this is raising eyebrows. Shares in RTX Corporation hit a record high last week after the aerospace conglomerate significantly beat second-quarter earnings forecasts. Excluding one-time effects, operating profit in its Pratt & Whitney engine-making division rose 23%.