WASHINGTON, DC - OCTOBER 11: A Bell Textron Inc. display is seen at the Association of the U.S. Army ... [+] (AUSA) Annual Meeting's exposition hall at the Walter E. Washington Convention Center on October 11, 2023 in Washington, DC. (Photo by Kevin Dietsch/Getty Images)Getty ImagesTextron (NYSE: TXT) recently reported its Q2 results, with the top line aligning and the bottom-line exceeding our estimates. The company reported revenues of $3.5 billion and adjusted earnings of $1.54 per share, compared to our ...

Textron Inc. (TXT) reported second-quarter 2024 adjusted earnings of $1.54 per share, which surpassed the Zacks Consensus Estimate of $1.49 by 3.4%. The bottom line also improved 5.5% from the year-ago quarter’s figure of $1.46 per share.The company reported GAAP earnings of $1.35 per share, up from $1.30 per share registered in the second quarter of 2023.RevenuesTXT reported total revenues of $3.53 billion, which missed the Zacks Consensus Estimate of $3.55 billion by 0.6%. However, the reported figure inc ...

Financial Data and Key Metrics Changes - Revenues for Q2 2024 were $3.5 billion, an increase from $3.4 billion in Q2 2023 [5] - Adjusted income from continuing operations was $1.54 per share, compared to $1.46 per share in the same quarter last year [5] - Manufacturing cash flow before pension contributions totaled $320 million, up from $242 million in Q2 2023 [5] Business Line Data and Key Metrics Changes - Aviation segment revenues were $1.5 billion, up $113 million from Q2 2023, with a profit of $195 million, an increase of $24 million [11] - Bell segment revenues increased to $794 million, up $93 million year-over-year, with a profit of $82 million, up $17 million [12] - Textron Systems revenues were $323 million, up $17 million from last year, but segment profit decreased by $2 million to $35 million [12] - Industrial segment revenues were $914 million, down $112 million from last year, with a profit decrease of $37 million to $42 million [13] Market Data and Key Metrics Changes - Aviation backlog ended the quarter at $7.5 billion, up $118 million from the first quarter of 2024 [6][11] - Bell's backlog was $4.2 billion at the end of the quarter [12] - Textron Systems backlog was $1.7 billion [12] Company Strategy and Development Direction - The company is focusing on integrating capabilities from the acquisition of Amazilia Aerospace into new platforms [10] - Textron is pursuing new program opportunities in military and industrial sectors, including collaborations for autonomous military vehicles [9][10] - The company is executing a cost reduction plan to adapt to lower demand in consumer and automotive markets [9] Management's Comments on Operating Environment and Future Outlook - Management noted strong demand across all aviation product lines, with expectations for continued strength in new launches [6][16] - Supply chain issues persist but are being managed, with expectations for improved performance as efficiencies are realized [21][22] - Management remains optimistic about maintaining strong margins despite ongoing challenges [29][57] Other Important Information - The company repurchased approximately 4.1 million shares, returning $358 million in cash to shareholders in Q2 2024 [14] - Corporate expenses were reported at $17 million, with net interest expense for the manufacturing group at $20 million [14] Q&A Session Summary Question: Can you provide insight on the market environment and aftermarket performance? - Management indicated robust demand across jets and turboprops, with aftermarket revenues growing by 13% [16][35] Question: What is the update on supply chain issues? - Management acknowledged ongoing supply chain challenges but noted improvements in managing these issues [20][21] Question: What are the expectations for jet deliveries in 2024? - Management expects higher unit deliveries in 2024 compared to 2023, despite some delays in specific models [25] Question: How is the company addressing margin performance in the Industrial segment? - Management expects continued margin improvement through cost-cutting measures, despite a challenging demand environment [44] Question: What are the prospects for European defense sales? - Management is pursuing opportunities in Europe, particularly in military sales, as defense budgets increase [76]

Q2 2024 Earnings Call Presentation JULY 18TH, 2024 The data in this package should be read in conjunction with the Textron earnings release and accompanying tables. © 2024 TEXTRON INC. 1 Forward-looking Information Certain statements in this package and other oral and written statements made by Textron from time to time are forward-looking statements, including those that discuss strategies, goals, outlook or other non-historical matters; or project revenues, income, returns or other financial measures. The ...

Textron (TXT) came out with quarterly earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.49 per share. This compares to earnings of $1.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.36%. A quarter ago, it was expected that this maker of Cessna small planes and Bell helicopters would post earnings of $1.28 per share when it actually produced earnings of $1.20, delivering a surprise of -6.25%.Over the ...

Corporate Communications Department NEWS Release Textron Reports Second Quarter 2024 Results Providence, Rhode Island – July 18, 2024 – Textron Inc. (NYSE: TXT) today reported second quarter 2024 income from continuing operations of $1.35 per share, as compared to $1.30 per share in the second quarter of 2023. Adjusted income from continuing operations, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, was $1.54 per share for the second quarter of 2024, compared to ...

UKRAINE - 2021/12/19: In this photo illustration Textron Inc. logo seen displayed on a smartphone ... [+] and in the background. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesTextron stock (NYSE: TXT) will report its Q2 2024 results on Thursday, July 18. We expect TXT stock to trade sideways post-Q2, with its revenue and earnings expected to align with the street estimates. The company will likely continue to benefit from higher aircra ...

Textron Inc. (TXT) is scheduled to release its second-quarter 2024 results on Jul 18 before market open.The company holds a four-quarter average earnings surprise of 9.33%. The solid revenue performance across the majority of its business segments is likely to have contributed to Textron’s overall performance in the second quarter of 2024.Textron Aviation – a Key Contributor to RevenuesSolid growth in aftermarket revenues, bolstered by solid aircraft utilization driven by improved air travel in recent years ...

WASHINGTON, DC - OCTOBER 11: A Bell Textron Inc. display is seen at the Association of the U.S. Army ... [+] (AUSA) Annual Meeting's exposition hall at the Walter E. Washington Convention Center on October 11, 2023 in Washington, DC. The Association of the U.S. Army’s Annual Meeting is designed to highlight the Army’s message by providing informative and relevant presentations on the State-of-the-Army, panel discussions and seminars on military and national security subjects and networking events. (Photo by ...

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