Textron Inc. (NYSE:TXT) reports 2Q18 Profit Surge; Raises Full Year Outlook

Textron Inc. (NYSE:TXT) Aerospace/Defense Manufacturer reported net income for the second quarter of $ 224.00 million or $ 0.87 per share, compared to income of $ 153.00 million or $ 0.57 per share for the year-ago quarter.

The topline results for the second quarter rose 3% to $ 3.73 billion from $ 3.60 billion in the same quarter last year.

The company reported second quarter 2017, adjusted income from continuing operations of $ 162 million or $ 0.60 per diluted share

Analysts polled by Thomson Reuters expected Textron to report income of $ 0.70 per share on revenue of $ 3.53 billion for the second quarter.

Textron Chairman and CEO Scott C. Donnelly, said, Operationally, we saw continued strength in our execution with margin improvements at Aviation, Systems, and Bell. We are encouraged by revenue growth resulting from improving commercial demand across many of our end markets.

Our updated outlook reflects our strong first-half performance and the continuation of our strategy of growth through new product investments and acquisitions to increase long-term shareholder value, Donnelly concluded.

Looking ahead, Textron raises full year 2018 diluted earnings of $3.15 to $3.35 per share, up $0.20 from our previous outlook.

Be the first to comment

Leave a Reply