Textron Q2 Revenue Misses Estimates Slightly Despite Profit Beat
Textron (TXT) reported second-quarter earnings that exceeded Wall Street's profit expectations, but revenue fell just short of analyst forecasts. The company reaffirmed its full-year outlook despite the slight revenue miss. In premarket trading on Tuesday, shares declined by 4.5%, reversing earlier gains for the year so far. The stock had been up nearly 10% this year before the earnings report was released. While Textron's performance met expectations in terms of profitability, the near-miss on revenue raised some concerns among investors, leading to a drop in share price ahead of regular trading hours.
Tickers: $TXT