Categories Analysis, Consumer, IPO

Textron beats Q4 EPS estimate by 17 cents

Textron (TXT) shares gained 0.6% during pre-market trading on Thursday after the company reported better-than-expected fourth quarter earnings of $1.15 per share, primarily driven by a strong aviation segment. Analysts had projected 98 cents per share for the quarter.

Meanwhile, total revenue declined 6% year-over-year to $3.75 billion, missing analysts’ target of $3.92 billion. Revenues saw modest declines in Textron Systems, Bell and Industrial units, which was partly offset by a 12% jump in the core aviation segment.

Textron Q2 2018 earnings infographic

Revenues at Textron Aviation were up 12% to $1.6 billion, due to higher volume and mix across the jet and commercial turboprop product lines, as well as favorable pricing. The unit delivered 63 jets, up from 58 last year, and 67 commercial turboprops, up from 45 last year.

Textron shares have dived 18% in the past one year.

CEO Scott C. Donnelly said, “We had strong execution in both the quarter and full year with significant margin improvements at Aviation, Bell, and Systems. We were also encouraged by the continued strength in new aircraft demand at Aviation.”

For 2019, Textron is forecasting revenues of about $14 billion, about flat with last year. Textron expects full-year 2019 EPS from continuing operations in the range of $3.55 to $3.75.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference, and much more!

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top