Textron Reports Strong Q1 Earnings and Announces Sale of Industrial Division
Textron (TXT) stock rose 4.9% after reporting better-than-expected Q1 earnings and announcing the sale of its underperforming Industrial division. The company earned $1.45 per share on $3.7 billion in sales, surpassing analyst forecasts. The Industrial division, which includes golf carts and commercial vehicles, saw a 1% sales decline and will be sold or spun off to focus on more profitable aerospace and military products.
Tickers: $TXT
Topics: Business Restructuring Divestiture Earnings Stock Performance