Textron(US:TXT)2025-04-24 10:33Financial Performance - First quarter 2025 net income was $1.13 per share, up from $1.03 per share in Q1 2024; adjusted net income was $1.28 per share, compared to $1.20 per share in the prior year[1][5] - Revenues for Q1 2025 were $3.3 billion, an increase of $171 million from $3.1 billion in Q1 2024[5][25] - Net income for the three months ended March 29, 2025, was $207 million, compared to $201 million for the same period in 2024, reflecting a year-over-year increase of 3%[33] - Adjusted net income for the three months ended March 29, 2025, was $235 million, slightly up from $233 million in the same period of 2024[38] - The outlook for 2025 projects net income of $955 million, with diluted EPS expected to be between $5.19 and $5.39[38] Revenue Breakdown - Textron Aviation's revenues were $1.2 billion, up $24 million from the previous year, with a backlog of $7.9 billion[7][9] - Bell revenues increased to $983 million, up $256 million from Q1 2024, driven by higher military and commercial revenues[10][12] - Textron Systems revenues were $296 million, down $10 million from the previous year, with a backlog of $2.3 billion[13][14] - Industrial segment revenues decreased to $792 million, down $100 million from Q1 2024, while segment profit remained unchanged at $30 million[15][25] - Textron eAviation reported revenues of $7 million with a segment loss of $17 million, slightly improved from a loss of $18 million in Q1 2024[16] Cash Flow and Operating Activities - Net cash provided by operating activities for the manufacturing group is projected to be between $1.2 billion and $1.3 billion for the full year[5][6] - Net cash from operating activities was $(124) million for the three months ended March 29, 2025, compared to $(7) million for the same period in 2024, indicating a decline in cash flow[33] - The company reported a manufacturing cash flow before pension contributions of $(158) million for the three months ended March 29, 2025, compared to $(81) million for the same period in 2024[31] Shareholder Returns - Textron returned $215 million to shareholders through share repurchases in the first quarter[3][5] Assets and Liabilities - Total assets increased to $16,942 million in March 2025, up from $16,838 million in December 2024, representing a growth of 0.6%[28] - Long-term debt increased to $3,038 million in March 2025, up from $2,890 million in December 2024, marking a rise of 5.1%[28] - Total liabilities increased to $9,667 million in March 2025, compared to $9,634 million in December 2024, reflecting a growth of 0.3%[28] Cash and Capital Expenditures - Cash and equivalents at the end of the period were $1,194 million, down from $1,386 million at the beginning of the period, a decrease of 13.9%[30] - The company reported capital expenditures of $56 million for the three months ended March 29, 2025, compared to $66 million in the same period of 2024[33]