Textron (TXT) Q4 Earnings Surpass Estimates

Company Performance - Textron reported quarterly earnings of $1.60 per share, exceeding the Zacks Consensus Estimate of $1.53 per share, and up from $1.07 per share a year ago, representing an earnings surprise of 4.58% [1] - The company posted revenues of $3.89 billion for the quarter ended December 2023, which missed the Zacks Consensus Estimate by 0.65%, compared to $3.64 billion in the same quarter last year [1] - Over the last four quarters, Textron has surpassed consensus EPS estimates four times but has only topped consensus revenue estimates once [1] Future Outlook - The sustainability of Textron's stock price movement will largely depend on management's commentary during the earnings call and the company's earnings outlook [2][3] - The current consensus EPS estimate for the upcoming quarter is $1.20 on revenues of $3.36 billion, and for the current fiscal year, it is $5.80 on revenues of $14.75 billion [4] - The estimate revisions trend for Textron is mixed, resulting in a Zacks Rank 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [4] Industry Context - The Aerospace - Defense industry, to which Textron belongs, is currently in the top 48% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [5] - L3Harris, another company in the same industry, is expected to report quarterly earnings of $3.31 per share, reflecting a year-over-year change of +1.2%, with revenues anticipated to be $5.29 billion, up 15.5% from the previous year [5][6]