Textron Reports Q3 Growth Driven by Aviation and Systems Segments, Raises Full-Year Guidance
Textron Inc. (TXT) reported third-quarter revenue of $3.8 billion, a 4% increase year-over-year, fueled by double-digit growth in its Aviation and Systems segments. Adjusted earnings per share rose to $1.76 from $1.55 in the prior-year period. The company's strong performance led management to raise its full-year adjusted EPS outlook to a range of $6.55 to $6.65 and increased its manufacturing cash flow guidance to between $800 million and $900 million. While Textron Aviation saw significant revenue gains from jet deliveries and aftermarket sales, the Bell segment experienced a 9% decline due to lower military volume on the MV-75 program. However, congressional approval of a $350 million reprogramming request for the MV-75 provides much-needed funding stability. Despite supply chain challenges regarding engines and auxiliary power units, Textron's robust backlogs in both Aviation ($8.0 billion) and Bell ($7.6 billion) underscore sustained demand.
Tickers: $TXT
Topics: Aviation Segment Defense Systems EPS Beat Guidance Raise Revenue Growth