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 ...

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]