earnings
confidence high
sentiment negative
materiality 0.80
Textron Q3 adj EPS $1.40 vs $1.49 YoY; cuts FY adj EPS guidance to $5.40-$5.60 from $6.20-$6.40
TEXTRON INC
- GAAP EPS $1.18; adjusted EPS $1.40 (down from $1.49); net cash from ops $208M.
- IAM strike at Textron Aviation cut Q3 revenue ~$50M, profit ~$30M; new 5-yr contract ratified but Q4 impact expected.
- FY2024 adjusted EPS guidance lowered to $5.40-$5.60 (prior $6.20-$6.40); manufacturing cash flow guidance cut to $650M-$750M.
- Bell revenue up $175M to $929M; FLRAA Milestone B approved, backlog up $2.3B to $6.5B.
- Textron Aviation backlog $7.6B; delivered 41 jets (up from 39) and 25 commercial turboprops (down from 38).