For the quarter ended September 2024, Textron (TXT) reported revenue of $3.43 billion, up 2.5% over the same period last year. EPS came in at $1.40, compared to $1.49 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.51 billion, representing a surprise of -2.27%. The company delivered an EPS surprise of -4.11%, with the consensus EPS estimate being $1.46.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expe ...

Core Insights - Textron Inc. reported third-quarter 2024 adjusted earnings of $1.40 per share, missing the Zacks Consensus Estimate of $1.46 by 4.1% and declining 6% from $1.49 per share in the same quarter last year [1] - Total revenues for Textron were $3.43 billion, falling short of the Zacks Consensus Estimate of $3.51 billion by 2.3%, but showing a 2.5% increase from $3.34 billion in the prior year [2] Financial Performance - GAAP earnings were reported at $1.18 per share, down from $1.35 per share in the third quarter of 2023 [1] - Cash and cash equivalents as of September 28, 2024, totaled $1.29 billion, a decrease from $2.12 billion as of December 30, 2023 [6] - Cash flow from operating activities for the first nine months of 2024 was $561 million, compared to $737 million in the same period last year [6] - Long-term debt stood at $2.88 billion as of September 28, 2024, down from $3.17 billion at the end of 2023 [6] Segment Performance - Textron Aviation revenues were nearly flat at $1.34 billion, with an operating profit of $128 million, down from $160 million year-over-year [3] - Bell segment revenues increased by 23.2% to $929 million, with profits rising 27.3% to $98 million, driven by military revenues and higher commercial volume [3] - Textron Systems revenues decreased by 2.6% to $301 million, with profits down 4.9% to $39 million [4] - Industrial segment revenues fell by 8.9% to $840 million, with profits declining to $32 million from $51 million in the prior year [4] - Textron eAviation reported revenues of $6 million, down 14.3% year-over-year, with a loss of $18 million [4] Guidance and Outlook - Textron revised its 2024 adjusted earnings per share (EPS) outlook to a range of $5.40-$5.60, down from $6.20-$6.40, due to a four-week strike affecting production and delivery [7] - The company also lowered its manufacturing cash flow guidance to $0.65-$0.75 billion from a previous estimate of $0.90-$1.00 billion [7] Market Position - Textron currently holds a Zacks Rank 3 (Hold) [8]

Textron Inc. (NYSE:TXT) Q3 2024 Earnings Conference Call October 24, 2024 8:00 AM ET Company Participants David Rosenberg - Vice President, Investor Relations Scott Donnelly - Chairman & Chief Executive Officer Frank Connor - Chief Financial Officer Conference Call Participants David Strauss - Barclays Sheila Kahyaoglu - Jefferies Robert Stallard - Vertical Research Peter Arment - Baird Noah Poponak - Goldman Sachs Myles Walton - Wolfe Research Seth Seifman - JPMorgan Doug Harned - Bernstein Jason Gursky - ...

Company Performance - Textron reported quarterly earnings of $1.40 per share, missing the Zacks Consensus Estimate of $1.46 per share, and down from $1.49 per share a year ago, representing an earnings surprise of -4.11% [1] - The company posted revenues of $3.43 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.27%, and compared to year-ago revenues of $3.34 billion [1] - Over the last four quarters, Textron has surpassed consensus EPS estimates two times but has not beaten consensus revenue estimates [1] Stock Performance and Outlook - Textron shares have increased by about 8% since the beginning of the year, while the S&P 500 has gained 21.5% [2] - The company's earnings outlook is crucial for investors, as empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [3] - The current consensus EPS estimate for the coming quarter is $1.89 on $4.11 billion in revenues, and for the current fiscal year, it is $6.10 on $14.22 billion in revenues [4] Industry Context - The Aerospace - Defense industry, to which Textron belongs, is currently in the top 25% of over 250 Zacks industries, indicating a favorable outlook [5] - Another company in the same industry, Huntington Ingalls, is expected to report quarterly earnings of $3.84 per share, with a year-over-year change of +3.8% [5]

Financial Performance - Q3 2024 - Revenues reached $3.4 billion, compared to $3.3 billion in Q3 2023[5] - Segment profit was $284 million, down from $332 million in Q3 2023[5] - Earnings Per Share (EPS) were $1.18, compared to $1.35 in Q3 2023[5] - Adjusted EPS was $1.40, compared to $1.49 in Q3 2023[5] - Manufacturing Cash Flow Before Pension Contributions was $147 million, down from $205 million in Q3 2023[5] Revenue Growth by Segment - Q3 2024 - Textron Aviation experienced a revenue growth of 0.1%[7] - Bell saw a significant revenue growth of 23.2%[7] - Textron Systems experienced a revenue decrease of 2.6%[7] - Industrial segment revenue decreased by 8.9%, with a 0.1% negative impact from FX, resulting in a 9% decrease[7] - Textron eAviation revenue decreased by 14.3%[7] - Overall Manufacturing Segments revenue grew by 2.6%, with a 0.1% negative impact from FX, resulting in a 2.5% growth[7] Adjusted EBITDA - Q3 2024 - Adjusted EBITDA was $421 million, compared to $442 million in Q3 2023[11] Updated Outlook - Full Year 2024 - Adjusted EPS is projected to be between $5.40 and $5.60[12] - Manufacturing Cash Flow Before Pension Contributions is expected to be between $650 million and $750 million[12] - Pension Contributions are estimated to be around $50 million[12]

Corporate Communications Department NEWS Release Textron Reports Third Quarter 2024 Results • EPS of $1.18; adjusted EPS of $1.40, down from $1.49 in the prior year • Net cash from operating activities of $208 million in the third quarter of 2024 • $215 million returned to shareholders through share repurchases in the third quarter • Textron Aviation segment revenue and profit impacted by IAM strike Providence, Rhode Island – October 24, 2024 – Textron Inc. (NYSE: TXT) today reported third quarter 2024 inco ...

Textron Inc. (TXT) is scheduled to release third-quarter 2024 results on Oct. 24, before market open.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company has a four-quarter average earnings surprise of 4.75%. The solid revenue performance across most of its business segments is likely to have contributed favorably to Textron’s top-line performance. However, charges related to its restructuring plan are likely to have hurt overall earnings.Textron Aviation – A Key Contributor ...

Core Insights - Textron Aviation is the first business aviation OEM to offer Gogo's global Low-Earth-Orbit (LEO) solution, Gogo Galileo HDX, as a factory option for its business jets [1][2] - Gogo Galileo HDX is designed for small to super midsize aircraft, providing a high-quality inflight Wi-Fi experience [2] - The commercial launch of Gogo Galileo HDX is expected in the fourth quarter of 2024, with integration work ongoing for the Cessna Citation Longitude, Citation Latitude, and Citation Ascend [2] Company Overview - Gogo is a leading provider of broadband connectivity services for the business aviation market, offering a customizable suite of smart cabin systems [3] - As of June 30, 2024, Gogo reported 7,031 business aircraft equipped with its broadband ATG systems, with 4,215 using Gogo AVANCE L5 or L3 systems [3] - Textron Aviation has over 95 years of experience in the aviation industry, producing a wide range of aircraft and maintaining a strong global customer service network [4]

Wall Street expects a year-over-year decline in earnings on higher revenues when Textron (TXT) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 24, 2024, might help the stock move higher if these key numbers are better than expe ...

Core Viewpoint - Textron Inc.'s Bell segment has secured a $37.7 million contract to supply Bell 412 EPX helicopters, with completion expected by December 31, 2025, indicating strong demand for multi-role helicopters amid rising global defense spending [1][2]. Group 1: Company Developments - The recent contract awarded to Bell Textron highlights the company's strong position in the multi-role helicopter market, driven by increasing defense spending and the need for versatile aircraft for various missions [2][4]. - The Bell 412 EPX helicopter features seating for up to 14 passengers and a wide cabin opening, enhancing its utility for emergency services, transport, and utility roles [2][3]. - The aircraft is equipped with advanced technology, including a modern flight deck and high-resolution displays, which improve pilot awareness and operational efficiency [3]. Group 2: Industry Trends - Global defense spending is on the rise due to increasing geopolitical tensions, leading to a surge in demand for multi-role helicopters used in military and civilian operations [4][5]. - The global military multirole helicopter market is projected to grow at a compound annual growth rate of 3.5% from 2024 to 2032, benefiting manufacturers like Textron [4]. - Multi-role helicopters are increasingly utilized in law enforcement, medical emergencies, firefighting, and disaster relief, indicating a broadening scope of applications [4][5]. Group 3: Competitive Landscape - Other defense companies, such as Lockheed Martin, Boeing, and Airbus, are also positioned to benefit from the expanding helicopter market, with each having notable models and growth projections [6][7][8]. - Lockheed Martin's long-term earnings growth rate is estimated at 4.7%, while Boeing's is significantly higher at 21.3%, reflecting strong demand across their helicopter offerings [6][7]. - Airbus's long-term earnings growth rate stands at 12%, with a focus on multi-role helicopters for various military and civilian applications [8]. Group 4: Stock Performance - Textron's stock has increased by 9.4% year-to-date, outperforming the industry average decline of 6.7%, indicating positive market sentiment towards the company [9].