Textron(US:TXT)2025-10-23 10:34Financial Performance - Textron reported third quarter 2025 income from continuing operations of $1.31 per share, up from $1.18 in the same quarter of 2024[1]. - Adjusted income from continuing operations was $1.55 per share, compared to $1.40 per share in the prior year[1]. - Income from continuing operations for Q3 2025 was $235 million, up from $223 million in Q3 2024, representing a 5.4% increase[26]. - Adjusted income from continuing operations for the nine months ended September 27, 2025, was $793 million, slightly down from $794 million in the same period of 2024[26]. - Adjusted income from continuing operations for Q3 2025 was $277 million, compared to $265 million in Q3 2024, reflecting a 4.5% increase[39]. - Adjusted diluted earnings per share for Q3 2025 was $1.55, up from $1.40 in Q3 2024, representing a 10.7% increase[39]. - The company expects full-year 2025 GAAP earnings per share from continuing operations to be in the range of $5.19 to $5.39[4]. - The company expects adjusted income from continuing operations for 2025 to be between $1,105 million and $1,140 million, with diluted EPS projected between $6.00 and $6.20[39]. Revenue and Backlog - Total revenue for the third quarter was $3.6 billion, an increase of 5% or $175 million year-over-year[2]. - Textron Aviation revenues reached $1.5 billion, up 10% or $138 million from the previous year, driven by higher aircraft and aftermarket parts revenues[5]. - Bell revenues increased to $1.0 billion, a 10% rise or $97 million, primarily due to higher military revenues from the MV-75 program[9]. - Textron Systems revenues were $307 million, up $6 million from last year, with a segment profit of $52 million, an increase of $13 million[12]. - Textron's backlog increased by $2.2 billion, driven by Bell and Textron Systems[6]. Cash Flow and Assets - Manufacturing cash flow before pension contributions was $281 million, compared to $147 million in the same quarter last year[2]. - Net cash from operating activities for Q3 2025 was $348 million, compared to $208 million in Q3 2024, indicating a significant increase of 67.3%[31]. - Cash and equivalents at the end of Q3 2025 were $1.446 billion, up from $1.289 billion at the end of Q3 2024[33]. - Total assets as of September 27, 2025, were $17.381 billion, compared to $16.838 billion at the end of 2024, reflecting a 3.2% increase[29]. - Net cash from operating activities for the nine months ended September 27, 2025, was $629 million, compared to $561 million for the same period in 2024, a rise of 12.1%[41]. Capital Expenditures and Debt - Capital expenditures for the nine months ended September 27, 2025, totaled $210 million, consistent with $211 million in the same period of 2024[31]. - Long-term debt increased to $3.038 billion as of September 27, 2025, from $2.890 billion at the end of 2024, marking a 5.1% rise[29]. Shareholder Returns - Textron returned $206 million to shareholders through share repurchases in the quarter, totaling $635 million year-to-date[3]. Special Charges and Provisions - The company incurred $8 million in special charges related to restructuring actions in Q2 2025, primarily due to severance and contract termination costs[27]. - Special charges for Q3 2025 were negligible, compared to a charge of $1 million in Q3 2024[39]. - LIFO inventory provision for Q3 2025 was $36 million, slightly down from $37 million in Q3 2024[39]. - Intangible asset amortization for Q3 2025 was $6 million, consistent with Q3 2024[39].