secwatch.observer — SEC 8-K summary
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Issuer:     TEXTRON INC (TXT)
CIK:        0000217346
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0000217346-24-000050
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Textron Q1 adjusted EPS $1.20, up 14% YoY; expands restructuring plan to $165-170M
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- GAAP EPS $1.03, adjusted EPS $1.20 vs $1.05 prior year; segment profit $290M (+$31M YoY).
- Aviation backlog $7.3B (+$177M); Bell revenue up $106M on FLRAA; Bell backlog $4.5B.
- Net cash used by operating activities $30M vs $153M provided last year; $317M in share repurchases.
- Restructuring plan expanded to $165-170M pre-tax; headcount reduction ~1,500 (4% of workforce).
- Shadow and FARA program cancellations at Textron Systems and Bell drove severance costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/217346/000021734624000050/0000217346-24-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/217346/000021734624000050/txt-20240425.htm
  HTML page:      https://secwatch.observer/filing/0000217346-24-000050

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer