Globally renowned leader in golf carts celebrates milestone with unprecedented deals and giveaways AUGUSTA, Ga., June 13, 2024 /PRNewswire/ -- Textron E-Z-GO® LLC, a Textron Inc. (NYSE: TXT) company and a globally renowned leader in the design and manufacture of golf carts, is thrilled to announce the creation of National Golf Cart Day [www.ezgo.com/nationalgolfcartday] on June 13. After all, in a time where there's a National Day for nearly everything else, why not take a day to celebrate the most fun way ...

Textron Inc.’s (TXT) , business unit, Textron Aviation Defense, recently clinched a modification contract involving its T-6C aircraft. The award has been provided by the Air Force Life Cycle Management Center, Wright-Patterson Air Force Base, OH.Details of the DealValued at $29.3 million, the contract is projected to be completed by Sep 30, 2026. The latest modification provides Textron with exercise options for the procurement of support and supply of an additional three T-6C aircraft.With this modificatio ...

Textron Inc. (TXT) recently revealed that its Cessna Citation Latitude and Citation Longitude mid-size business jets would be equipped with upgraded Garmin G5000 avionics. These advanced avionics features are expected to provide better performance and improved user experience to pilots of the new Cessna Citation Latitude aircraft, starting in 2025, and the new Longitude jets, starting in 2026.What’s New?The Cessna Citation Latitude and Longitude jets will have several cutting-edge features and technology wh ...

The companies are collaborating on the development of an uncrewed military vehicle intended for advanced terrain environments and designed without space for a driverHUNT VALLEY, Md. and MOUNTAIN VIEW, Calif., May 20, 2024 /PRNewswire/ -- Textron Systems Corporation, a Textron Inc. (NYSE: TXT) company, a leading developer of crewed and uncrewed military ground vehicles, and Kodiak Robotics, Inc., a leading self-driving technology developer for the trucking and defense markets, announced today that they are c ...

Ryan Fletcher/iStock Editorial via Getty Images Textron Inc. (NYSE:TXT) is a conglomerate, leading in defense, aviation, industrial products and more. This company owns several well-known brands such as Bell, and Cessna, which can be seen below. Textron makes everything from planes to golf carts, to helicopters to snowmobiles. I have followed this company off and on for years, and what brought me to take another look just now is because the stock plunged by about 10%, after the company reported Q1 results f ...

Textron (TXT) has been beaten down lately with too much selling pressure. While the stock has lost 11.5% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measu ...

At 17 times earnings and 10% growth, is this defense contractor a buy or a sell ?Shares of defense contractor Textron (TXT -11.67%) tumbled 11.8% through 10:35 a.m. ET Thursday despite the company reporting better-than-expected results for Q1 2024.Analysts forecast the maker of armored cars, military drones, Cessna airplanes, and Bell helicopters would earn only $1.13 per share (non-GAAP) on sales of $3.1 billion in Q1. But Textron surprised to the upside with $1.20 per share in earnings and sales of $3.14 ...

Textron Inc. (TXT) reported first-quarter 2024 adjusted earnings of $1.20 per share, which lagged the Zacks Consensus Estimate of $1.28 by 6.3%. However, the bottom line improved 14.3% from the year-ago quarter’s figure of $1.05 per share.The company reported GAAP earnings of $1.03 per share, up from 92 cents registered in the first quarter of 2023.RevenuesTXT reported total revenues of $3.14 billion, which missed the Zacks Consensus Estimate of $3.34 billion by 6.1%. However, the reported figure increased ...

Textron (TXT) reported $3.14 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 3.7%. EPS of $1.20 for the same period compares to $1.05 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $3.34 billion, representing a surprise of -6.11%. The company delivered an EPS surprise of -6.25%, with the consensus EPS estimate being $1.28.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

Financial Data and Key Metrics Changes - Revenue for Q1 2024 was $3.1 billion, an increase from $3 billion in Q1 2023 [6] - Segment profit for the quarter was $290 million, up $31 million from the previous year [6] - Adjusted income from continuing operations was $1.20 per share, compared to $1.05 per share in Q1 2023 [6] - Manufacturing cash flow before pension contributions showed a cash use of $81 million, compared to cash provided of $104 million in Q1 2023 [6] Business Line Data and Key Metrics Changes - **Aviation**: Revenues were $1.2 billion, up $39 million from Q1 2023, with segment profit at $143 million, an increase of $18 million [12] - **Bell**: Revenues increased to $727 million, up $106 million from last year, with segment profit at $80 million, up $20 million [13] - **Textron Systems**: Revenues were flat at $306 million, with segment profit up $4 million to $38 million [14] - **Industrial**: Revenues decreased to $892 million, down $40 million from last year, with segment profit down $12 million to $29 million [14] Market Data and Key Metrics Changes - Textron Aviation's backlog ended the quarter at $7.3 billion, reflecting strong demand [7][12] - Bell's backlog was $4.5 billion, driven by military volume related to the FLRAA program [13] - Textron Systems' backlog ended at $1.8 billion [14] Company Strategy and Development Direction - The company is focusing on improving supply chain efficiencies and production capabilities to support delivery growth [8] - Textron is expanding its restructuring plan to address cost structures in light of program cancellations, with expected savings of approximately $185 million [16][81] - The company is optimistic about the future of the FLRAA program, expecting to complete milestone B and enter the engineering and manufacturing development phase [8][50] Management's Comments on Operating Environment and Future Outlook - Management noted continued improvements in supply chain and factory productivity, contributing to positive delivery trends [19] - The company anticipates a slight decline in industrial revenue due to softness in high-end consumer demand, while maintaining a positive outlook for aviation and Bell segments [23][44] - Management reiterated full-year adjusted earnings per share guidance of $6.20 to $6.40 [17] Other Important Information - The company repurchased approximately 3.6 million shares, returning $317 million in cash to shareholders [16] - Special charges of $14 million were incurred under the restructuring plan, with additional severance costs expected in Q2 [16] Q&A Session Summary Question: Can you provide insights on deliveries in the quarter? - Management expects growth in deliveries year-over-year, with improvements in supply chain and productivity [18][19] Question: Is there softness in the industrial segment? - Management confirmed softness in high-end consumer demand, particularly in recreational and personal transportation sectors [22][23] Question: What are the expectations for Bell's margins? - Management anticipates margins to remain strong, supported by cost actions and new orders [26][28] Question: How is the supply chain performing in Aviation? - Management acknowledged ongoing challenges with specific components but noted overall improvements [74][75] Question: What is the outlook for the E-Aviation segment? - Management is optimistic about the Pipistrel business and the Nexus program, expecting growth in the coming years [62][63] Question: How will the restructuring impact cash flow? - Management expects restructuring savings to be around $185 million, with a cash impact of approximately $60 million to $65 million for 2024 [25][81]