Raytheon Technologies Corp. RTX is set to release second-quarter 2021 results on Jul 27, before market open.The company delivered an earnings surprise of 2.27% in the last reported quarter. Moreover, Raytheon delivered an earnings surprise of 81.83% in the last four quarters, on average.Factors to NoteThe merger between legacy missile-maker Raytheon Company with multinational conglomerate United Technologies, which resulted into the formation of Raytheon Technologies, completed a year on Apr 3. Consequently, Raytheon Technologies’ second-quarter results are projected to benefit from positive synergies from the merger.Incremental cost synergies from the acquisition of Rockwell Collins are also expected to bolster the company’s soon-to-be-reported quarterly results.Raytheon Technologies Corporation Price and EPS Surprise Raytheon Technologies Corporation price-eps-surprise | Raytheon Technologies Corporation QuoteA gradual improvement in global air travel has been observed over the past couple of quarters and a similar trend is likely to have boosted the company’s commercial aftermarket sales in the second quarter. Higher volume across multiple mission areas are expected to have boosted its defense sales. Cumulatively, these factors are expected to have contributed favorably to the company’s overall revenues in the second quarter.Raytheon Technologies’ cost-control initiatives and favorable sales mix are expected to have benefited its second-quarter earnings. Moreover, improving trends in commercial aerospace are expected to have boosted operating profit, thereby favorably contributing to the company’s overall bottom-line growth.Q2 ExpectationsCurrently, the Zacks Consensus Estimate for Raytheon Technologies’ earnings is pegged at 92 cents on revenues of $15.78 billion, indicating 130% and 12.2% improvement from the respective year-ago quarter numbers.Earnings WhispersOur proven model does not conclusively predict an earnings beat for Raytheon Technologies this time around. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for earnings beat. This is not the case here, as given belowEarnings ESP: Raytheon Technologies has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: The company currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.Stocks to ConsiderHere are a couple of defense companies you may want to consider, as these have the right combination of elements to post an earnings beat this season:Leidos Holdings LDOS has an Earnings ESP of +4.46% and a Zacks Rank #2.General Dynamics GD has an Earnings ESP of +1.98% and a Zacks Rank #3.Lockheed Martin LMT has an Earnings ESP of +0.92% and a Zacks Rank #3. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lockheed Martin Corporation (LMT): Free Stock Analysis Report General Dynamics Corporation (GD): Free Stock Analysis Report Leidos Holdings, Inc. (LDOS): Free Stock Analysis Report Raytheon Technologies Corporation (RTX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research