Financial Data and Key Metrics Changes - Revenues for the quarter were $3.7 billion, an increase of 5.4% or $189 million compared to the same quarter last year [3] - Segment profit for the quarter was $346 million, up $3 million from the second quarter of 2024 [3] - Adjusted income from continuing operations was $1.55 per share, compared to $1.54 per share in the same quarter last year [3] - Manufacturing cash flow before pension contributions totaled $336 million, compared to $320 million in the same quarter last year [3] Business Line Data and Key Metrics Changes - Aviation segment revenues were $1.5 billion, up 2.8% from the second quarter of 2024, driven by higher sales in both aircraft and aftermarket [4][12] - Bell revenues increased by $222 million or 28% compared to last year's second quarter, attributed to growth in the MV75 program and commercial helicopter business [4][12] - Textron Systems revenues were $321 million, down $2 million from last year, but segment profit increased by $5 million to $40 million due to lower selling and administrative expenses [12] - Industrial revenues were $839 million, down $75 million from last year, reflecting the impact of the disposition of the powersports business [12] Market Data and Key Metrics Changes - Aviation backlog ended the quarter at $7.85 billion, with solid demand across all products [5] - Bell's backlog ended the quarter at $6.9 billion, with military revenues increasing significantly [12] - Textron Systems backlog ended at $2.2 billion, indicating ongoing opportunities despite some program terminations [12] Company Strategy and Development Direction - The company is focusing on accelerating the MV75 program, with plans to transition smoothly from development to low-rate initial production (LRIP) [6][22] - The company is committed to maintaining a strong cash flow and has increased its expected full-year manufacturing cash flow before pension contributions to a range of $900 million to $1 billion [16] - The company is exploring opportunities in the battery electric vehicle market and has secured a foothold with a major European automotive OEM [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of aviation margins and expects strong deliveries in the second half of the year [29][104] - The company has not yet seen significant impacts from tariffs, maintaining a strong demand environment [36][88] - Management noted that the corporate world is healthy, with good dialogues and strong flying activity driving aftermarket demand [66] Other Important Information - The company repurchased approximately 2.9 million shares, returning $214 million in cash to shareholders during the quarter [14] - The adjusted effective tax rate for 2025 is expected to be in the range of 20% to 21% due to recent tax legislation [16][114] Q&A Session Summary Question: What could the potential acceleration on MV75 look like? - Management indicated that they have good visibility on the development side and are working closely with the Army to accelerate the program, which may pull forward production timelines by about eighteen months [21][22] Question: What offsets were there to the higher tax rate? - The timing of share repurchases has been ahead of plan, allowing the company to maintain guidance despite the increased tax rate [24] Question: What are the margins at Aviation expected to be moving forward? - Management expects margins to improve in the second half of the year, with strong jet and turboprop deliveries anticipated [28][29] Question: How is the demand environment for commercial helicopters? - Demand is strong across all models, with good order activity and delivery expectations [86] Question: How is the company approaching capital deployment? - The primary focus is on opportunistic share buybacks, with potential for acquisitions if they make economic sense [62] Question: What is the outlook for King Air? - The King Air line has stabilized and is expected to see strong deliveries in Q3 and Q4 [108]

Textron (TXT) came out with quarterly earnings of $1.55 per share, beating the Zacks Consensus Estimate of $1.45 per share. This compares to earnings of $1.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +6.90%. A quarter ago, it was expected that this maker of Cessna small planes and Bell helicopters would post earnings of $1.17 per share when it actually produced earnings of $1.28, delivering a surprise of +9.4%.Over the ...

Corporate Communications Department NEWS Release Textron Reports Second Quarter 2025 Results Providence, Rhode Island – July 24, 2025 – Textron Inc. (NYSE: TXT) today reported second quarter 2025 income from continuing operations of $1.35 per share, flat with the second quarter of 2024. Adjusted income from continuing operations, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, was $1.55 per share for the second quarter of 2025, compared to $1.54 per share in the s ...

Core Insights - Textron Inc. is set to release its second-quarter 2025 results on July 24, with an expected revenue growth of 2.9% year-over-year to $3.63 billion, despite anticipated earnings per share (EPS) decline of 5.8% to $1.45 [1][6][8] Group 1: Business Segment Performance - Textron Aviation is projected to see a revenue increase of 6% year-over-year, with estimates at $1,564 million [2] - The Bell unit is expected to report an 18% revenue growth year-over-year, with estimates at $936.8 million [3] - Textron Systems is likely to experience an 11.4% revenue decline year-over-year, with estimates at $286.3 million [4] - The Industrial segment is anticipated to see a 10.3% revenue decline year-over-year, with estimates at $819.4 million [5] Group 2: Financial Estimates and Backlog - The overall revenue performance is supported by strong sales in the Aviation and Bell units, while the Systems and Industrial segments face challenges [7] - Textron's backlog is projected to increase by 34.5% year-over-year to $18.05 billion [9] Group 3: Earnings Predictions - The company has a four-quarter average earnings surprise of 3.96%, and the current model indicates a potential earnings beat with an Earnings ESP of +0.23% [1][10] - Textron currently holds a Zacks Rank of 3, indicating a hold position [11]

Core Viewpoint - Textron (TXT) is expected to report quarterly earnings of $1.45 per share, reflecting a 5.8% decline year-over-year, while revenues are forecasted to increase by 2.9% to $3.63 billion [1] Revenue Estimates - The consensus estimate for 'Revenues- Textron eAviation' is $9.25 million, indicating a 2.8% increase from the previous year [4] - 'Revenues- Manufacturing- Bell' is projected to reach $936.78 million, representing an 18% increase year-over-year [4] - 'Revenues- Manufacturing- Textron systems' is expected to be $286.25 million, showing an 11.4% decline from the prior year [4] - 'Revenues- Manufacturing- Textron Aviation' is forecasted at $1.56 billion, reflecting a 6% increase from the year-ago quarter [5] - 'Revenues- Finance' is estimated to be $11.74 million, indicating a 2.2% decline year-over-year [5] - The overall 'Revenues- Manufacturing' is projected to be $3.62 billion, showing a 2.9% increase from the previous year [5] - 'Revenues- Manufacturing- Industrial' is expected to be $819.44 million, indicating a 10.4% decline from the prior-year quarter [6] Segment Profit Estimates - 'Segment Profit- Textron Aviation' is projected to be $189.92 million, down from $195.00 million year-over-year [6] - 'Segment Profit- Bell' is expected to reach $89.44 million, compared to $82.00 million in the same quarter last year [6] - 'Segment Profit- Textron Systems' is estimated at $39.12 million, up from $35.00 million in the previous year [7] - 'Segment profit- Industrial' is projected to be $35.55 million, down from $42.00 million year-over-year [7] - 'Segment profit- Manufacturing' is expected to be $336.93 million, slightly up from $336.00 million in the same quarter last year [8] Stock Performance - Over the past month, Textron shares have returned +10.4%, outperforming the Zacks S&P 500 composite's +5.4% change [8]

Core Viewpoint - Textron (TXT) is anticipated to report a year-over-year decline in earnings despite an increase in revenues for the quarter ended June 2025, with the actual results being a significant factor influencing its near-term stock price [1][2]. Earnings Expectations - The consensus estimate for Textron's quarterly earnings is $1.44 per share, reflecting a year-over-year decrease of 6.5%, while revenues are projected to be $3.6 billion, representing a 2.2% increase from the previous year [3]. - The consensus EPS estimate has been revised down by 0.16% over the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows that Textron has a positive Earnings ESP of +0.58%, suggesting analysts have recently become more optimistic about the company's earnings prospects [12]. - The stock currently holds a Zacks Rank of 3, indicating a hold position, which, when combined with the positive Earnings ESP, suggests a likelihood of beating the consensus EPS estimate [12]. Historical Performance - In the last reported quarter, Textron exceeded the expected earnings of $1.17 per share by delivering $1.28, resulting in a surprise of +9.40% [13]. - Over the past four quarters, Textron has surpassed consensus EPS estimates three times [14]. Industry Comparison - General Dynamics (GD), a competitor in the Aerospace - Defense industry, is expected to report earnings of $3.54 per share for the same quarter, marking an 8.6% year-over-year increase, with revenues projected at $12.22 billion, up 2% from the previous year [18]. - General Dynamics has a positive Earnings ESP of +4.08% and a Zacks Rank of 3, indicating a strong likelihood of beating the consensus EPS estimate [19].

Textron (TXT) Analysis - Textron has 180 million shares outstanding [1] - Textron's non-GAAP earnings are projected to be slightly over $6 per share this year [1] - Textron possesses Bell Helicopter and CESA [1] - Textron has a backlog for the Longitude and Latitude aircraft [1] - The Longitude and Latitude aircraft backlogs are expected to provide a tailwind [2] - At a stock price of $85, Textron is considered significantly undervalued relative to its earnings [2] National Fuel and Gas (NFG) Analysis - National Fuel and Gas (NFG) stock is trading near record highs [2] - NFG has 90 million shares outstanding and a stock price of $85 [3] - NFG is projected to earn close to $7 per share this year [4] - NFG owns significant acreage in the Marcellus shale region in Pennsylvania for over 100 years, with mineral rights extending to approximately 10,000 feet [3] - NFG intends to transport natural gas to Connecticut and Massachusetts and export some as LNG [3] - NFG is planning to acquire other local distribution companies (LDCs), potentially in Pennsylvania [4][5]

In terms of the content deals and the and the sports deals, what what do you like about the the what you called so-called financial engineering of the spin-offs. You know, we were talking earlier about how Netflix is what more than half, right. Half a trillion dollar stock.You look at that and all these media companies are trying to catch up. Company A spins off a division. The ETFs that own company A don't can't own company B.So if you focus on it and you figure out what the intrinsic value is, what is it ...

Group 1 - Textron Inc. demonstrates stability in the defense segment and stable cash generation [1] - The company continues to face restrictions in civilian areas [1] - Textron is trading at a significant discount to current multiples [1]

Core Insights - Howmet Aerospace Inc. (HWM) and Textron Inc. (TXT) are key players in the aerospace and defense industry, benefiting from improving air traffic trends and U.S. budgetary policies [1] Howmet Aerospace - Howmet is experiencing strong momentum in the commercial aerospace market, with a 9% year-over-year revenue increase in Q1 2025, driven by demand for fuel-efficient aircraft [2][3] - The defense aerospace market is also performing well, with a 19% year-over-year revenue increase in Q1 2025, supported by robust orders for F-35 engine spares [4] - The company has been rewarding shareholders, paying $42 million in dividends and repurchasing $125 million in shares in Q1 2025, along with a 25% dividend increase [5] Textron Inc. - Textron's Aviation business unit is benefiting from improving commercial air passenger traffic, resulting in a 6% year-over-year growth in aftermarket revenue in Q1 2025 and a backlog of $7.87 billion [6] - The Systems segment received a contract worth up to $100 million from the U.S. Navy for software development updates, highlighting demand for defense products [7] - Textron's cash and cash equivalents stood at $1.25 billion, with long-term debt at $3.38 billion, indicating a solid short-term solvency position [8] Financial Performance - HWM's commercial and defense aerospace revenues grew by 9% and 19% respectively in Q1 2025, while TXT's aviation backlog reached $7.87 billion [9] - HWM's 2025 sales and EPS estimates imply year-over-year growth of 8.5% and 28.6%, while TXT's estimates imply growth of 6.6% and 11.1% [12][14] Valuation Comparison - Textron is trading at a forward price-to-earnings ratio of 12.56X, below its three-year median, while Howmet's ratio is significantly higher at 46.91X [15] Conclusion - Despite supply-chain challenges affecting Textron, Howmet's market leadership and strong growth prospects make it a more attractive investment option currently [16][17][18]