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 ...

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 ...

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]

Q1 2024 Earnings Call Presentation APRIL 25TH, 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. Th ...

Corporate Communications Department NEWS Release Textron Reports First Quarter 2024 Results • EPS of $1.03; adjusted EPS of $1.20, up from $1.05 from prior year • Segment profit of $290 million, up $31 million from prior year Providence, Rhode Island – April 25, 2024 – Textron Inc. (NYSE: TXT) today reported first quarter 2024 net income of $1.03 per share, as compared to $0.92 per share in the first quarter of 2023. Adjusted net income, a non-GAAP measure that is defined and reconciled to GAAP in an attach ...

Backlog and Orders - Textron Aviation's backlog increased to $7,169 million in 2023 from $6,387 million in 2022, reflecting strong demand for its aircraft [33] - Bell's backlog remained stable at $4,780 million in 2023 compared to $4,781 million in 2022, indicating consistent order levels [33] - Textron Systems' backlog decreased to $1,950 million in 2023 from $2,098 million in 2022, suggesting a potential slowdown in new orders [33] Revenue and Financial Performance - Total revenues for 2023 reached $13,683 million, an increase of 6.3% from $12,869 million in 2022 [193] - Manufacturing product revenues increased to $11,573 million in 2023, up from $10,945 million in 2022, reflecting a growth of 5.7% [193] - Net income for 2023 was $921 million, compared to $861 million in 2022, representing a year-over-year increase of 7% [194] - Basic earnings per share for continuing operations rose to $4.62 in 2023, up from $4.05 in 2022, marking a 14.1% increase [193] - Income from continuing operations for 2023 was $922 million, an increase of 6.9% from $862 million in 2022 [199] Government Contracts - Approximately 21% of Textron's consolidated revenues in 2023 were generated from U.S. Government contracts, primarily in the Bell and Textron Systems segments [35] - Contracts with the U.S. Government accounted for approximately 21% of total revenues in 2023 [212] - In 2023, 73% of revenues from U.S. Government contracts were under fixed-price and fixed-price incentive contracts [217] Operational and Workforce Insights - Textron employs approximately 35,000 employees worldwide, with 80% located in the U.S., highlighting its significant workforce presence [41] - The company emphasizes the importance of a diverse workforce and inclusive workplaces to enhance performance and innovation [46] - Textron's talent development programs are designed to prepare employees for new career opportunities, with a formal talent review process conducted annually [45] Risks and Challenges - The company faces uncertainties regarding future budget and program decisions that could impact existing and future defense-related programs [60] - The demand for Textron's aircraft products is cyclical, with potential adverse effects on cash flows and financial condition due to unexpected events [59] - Cybersecurity threats pose a risk to the company's operations, requiring significant resources to mitigate potential breaches and comply with increasing cybersecurity standards [75] - Global macroeconomic conditions, including inflation and supply chain challenges, may adversely affect the company's business and financial results [74] Capital and Investments - Capital expenditures for 2023 were $402 million, up from $354 million in 2022, indicating a 13.5% increase [200] - The company reported a special charge of $126 million in 2023, compared to no special charges in 2022 [193] - The company declared dividends of $0.08 per share for 2023, totaling $16 million, consistent with the previous year [196] Assets and Liabilities - Total assets increased to $16,856 million as of December 30, 2023, compared to $16,293 million at the end of 2022, reflecting a growth of 3.5% [195] - Total current liabilities increased to $4,378 million in 2023, compared to $3,670 million in 2022, a rise of 19.3% [195] - The total debt for the Manufacturing group rose to $3,526 million in 2023, compared to $3,182 million in 2022, with long-term debt at $3,169 million [268] Product Development and Innovation - Textron Aviation is developing the Citation Ascend, expected to enter service in 2025, and the Beechcraft Denali, which is in the FAA certification process [16] - The Beechcraft Denali is projected to have an engine that is up to 20% more efficient than similarly sized engines, enhancing its market competitiveness [16] - The company faces risks related to the development of new products and technologies, which may encounter delays or cost overruns, impacting future performance [69] Financial Management - The company is subject to U.S. Government procurement rules, which if not complied with, could lead to suspension or debarment from contracts, negatively impacting financial condition and liquidity [64] - The company recognizes changes in estimated contract revenues, costs, and profits using the cumulative catch-up method of accounting [219] - The allowance for credit losses for finance receivables is established as a percentage based on historical loss experience and current economic conditions [231] International Operations - Approximately 32% of the company's revenues in 2023 were derived from international business, exposing it to additional risks such as trade restrictions and economic sanctions [78] - The company is exposed to risks related to international business operations, including reliance on joint venture partners and suppliers [57] Shareholder Activities - The company repurchased 16,169 thousand shares in 2023, reducing the outstanding common stock to 192,898 thousand shares [279] - Share-based compensation expense for 2023 was $94 million, compared to $66 million in 2022, indicating a 42.4% increase [299]

Textron Inc. (NYSE:TXT) Q4 2023 Earnings Call Transcript January 24, 2024 8:00 AM ET Company Participants David Rosenberg - VP of IR Scott Donnelly - Chairman and CEO Frank Connor - CFO Conference Call Participants Sheila Kahyaoglu - Jefferies Peter Arment - Baird David Strauss - Barclays Jason Gursky - Citi Noah Poponak - Goldman Sachs Myles Walton - Wolfe Research Robert Stallard - Vertical Research Seth Seifman - JPMorgan Kristine Liwag - Morgan Stanley George Shapiro - Shapiro Research Pete Skibitski - ...

Q4 2023 Earnings Call Presentation January 24th, 2024 The data in this package should be read in conjunction with the Textron earnings release and accompanying tables. © 2023 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. ...

Textron, Inc. (NYSE:TXT) Q3 2023 Earnings Conference Call October 26, 2023 8:00 AM ET Company Participants Eric Salander - VP, IR & Treasurer Scott Donnelly - Chairman, President & CEO Frank Connor - EVP & CFO Conference Call Participants Sheila Kahyaoglu - Jefferies David Strauss - Barclays Bank Noah Poponak - Goldman Sachs Group Douglas Harned - Sanford C. Bernstein & Co. George Shapiro - Shapiro Research Kristine Liwag - Morgan Stanley Jason Gursky - Citigroup Myles Walton - Wolfe Research Ronald Epstein ...