Core Viewpoint - Textron Inc.'s business unit, Textron Aviation Defense, has delivered five Beechcraft T-6C Texan II planes to the Vietnam Air Force, marking a significant milestone in U.S.-Vietnam defense relations. This delivery is part of a contract for a total of 12 planes, with the remaining seven expected by mid-2025 [1]. Group 1: Company Developments - The Beechcraft T-6C is recognized as a premier military flight trainer, characterized by low acquisition, operating, and sustainment costs, which facilitate rapid training of fighter pilots [3]. - The T-6C's advanced features, including an all-digital, open-architecture glass cockpit, enhance visibility for complex missions, contributing to solid order flows for Textron [4]. - A global fleet of over 1,000 Beechcraft T-6 Texan II aircraft has achieved more than 5 million flight hours across 13 nations and two NATO flight schools since 2001, indicating the aircraft's viability and demand [4]. Group 2: Industry Prospects - The military training aircraft market is projected to grow from $2.76 billion in 2024 to $4.78 billion by 2030, reflecting a compound annual growth rate (CAGR) of 9.6%, driven by technological advancements, rising defense budgets, and increasing geopolitical tensions [5]. - Textron Aviation Defense is well-positioned to capitalize on this market growth, offering adaptable flight training systems, including the T-6C Texan II and the Beechcraft AT-6E Wolverine [6]. Group 3: Competitive Landscape - CAE Inc. provides comprehensive training systems across various military aircraft platforms and has a long-term earnings growth rate of 15.9% [8]. - Boeing Company delivers mission-ready training solutions and has a long-term earnings growth rate of 19.3%, with a projected year-over-year sales growth of 23.4% for 2024 [9][10]. - Lockheed Martin's TF-50 trainer jet has trained over 2,500 students, with a long-term earnings growth rate of 4.5% and a projected year-over-year sales growth of 5.4% for 2024 [11][12]. Group 4: Stock Performance - Textron's shares have increased by 2.3% over the past month, contrasting with a 1.7% decline in the industry [13].

LAS VEGAS, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Jet.AI Inc., an innovative private aviation and artificial intelligence company, announced a fleet purchase agreement with Textron Aviation Inc. for the purchase of three Cessna Citation CJ4 Gen2 aircraft. With deliveries scheduled for Q2, Q3 and Q4 of 2026, the new aircraft will join the Jet.AI fleet as part of a brand-new CJ4 Gen2 fractional program. Jet.AI offers fractional jet ownership for individuals and businesses seeking flexible and convenient private av ...

Core Viewpoint - Textron Inc.'s Textron Aviation has delivered its first Beechcraft King Air 360CHW aircraft to the Peruvian Air Force, with a second delivery scheduled for 2025, highlighting the company's role in the growing demand for multi-mission aircraft amid rising global defense spending [1][2]. Company Summary - Textron Aviation's Beechcraft King Air 360CHW is designed for diverse operational environments, featuring advanced design elements that enhance efficiency in remote areas, making it a valuable asset for military operations [3]. - The aircraft includes modern enhancements such as an advanced digital pressurization system and a full regime autothrottle system, which improve operational reliability and user experience [3][4]. - The cabin's design features, including higher pressure for lower altitude, contribute to passenger comfort, while luxury-inspired interiors and upgraded seating make it suitable for demanding missions [4]. Industry Summary - The global military multirole aircraft market is expected to grow at a compound annual growth rate of over 3.5% from 2024 to 2029, driven by increasing geopolitical tensions and the need for adaptable aircraft across various sectors [6][5]. - The demand for multi-role aircraft is surging, with applications in medical emergencies, firefighting, search and rescue, and offshore transport, indicating a robust market opportunity for manufacturers like Textron [5][7]. Competitor Overview - Other defense companies, such as Lockheed Martin and Boeing, are also positioned to benefit from the expanding military multirole aircraft market, with Lockheed Martin's long-term earnings growth rate at 4.5% and Boeing's at 19.3% [8][9][10]. - Airbus is another key player, with its A330 Multi Role Tanker Transport aircraft and C295 tactical transport aircraft, showing a long-term earnings growth rate of 10.5% [11][12].

Textron Inc.’s (TXT) business segment, Textron Aviation recently clinched a modification contract involving its T-54A aircraft. The award has been provided by the Naval Air Systems Command, Patuxent River, MD.Details of TXT’s DealValued at $276.8 million, the contract is projected to be completed by September 2026. The latest modification enables Textron to exercise options for the production and delivery of 26 T-54A trainer aircraft. Per the terms of the deal, TXT will also provide associated aircraft and ...

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 ...