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01/10 23:59
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call and Q&A session highlight positive factors such as increased financial metrics, strong demand in aviation, and strategic program accelerations. Despite some supply chain challenges, the company shows confidence in meeting revenue targets. The management's clear responses and strong bookings in various segments further support a positive outlook. The reiterated guidance and increased cash flow projections add to the positive sentiment.
Revenues $3.6 billion, up 5% or $175 million from last year's third quarter. The increase was driven by strong growth across aerospace and defense businesses.
Segment Profit $357 million, up 26% or $73 million from the third quarter of 2024. The increase was attributed to higher volume and mix.
Adjusted Income from Continuing Operations $1.55 per share compared to $1.40 per share in last year's third quarter. The increase reflects improved operational performance.
Manufacturing Cash Flow Before Pension Contributions $281 million compared to $147 million in last year's third quarter. The increase was due to improved cash generation from operations.
Textron Aviation Revenues $1.5 billion, up 10% or $138 million from the third quarter of 2024. The increase was due to higher aircraft revenues of $116 million and higher aftermarket parts and service revenues of $22 million.
Textron Aviation Segment Profit $179 million, up 40% or $51 million from a year ago. The increase was largely due to higher volume and mix.
Bell Revenues $1 billion, up 10% or $97 million from the third quarter of 2024. The increase was driven by higher military revenues of $128 million, partially offset by lower commercial volume of $31 million.
Bell Segment Profit $92 million, down $6 million from last year's third quarter. The decrease was due to lower commercial volume.
Textron Systems Revenues $307 million, up 2% or $6 million from last year's third quarter. The increase included higher volume on the Ship-to-Shore Connector program.
Textron Systems Segment Profit $52 million, up $13 million compared with the third quarter of 2024. The increase was largely due to a gain resulting from the early termination of a vendor contract.
Industrial Revenues $761 million, down $79 million from last year's third quarter. The decrease was driven by Textron Specialized Vehicles, reflecting $88 million in lower revenues related to the divestiture of the Powersports business.
Industrial Segment Profit $31 million, down $1 million from the third quarter of 2024. The decrease was due to lower revenues.
Textron eAviation Revenues $5 million in the third quarter of 2025 as compared to $6 million in last year's third quarter. The decrease reflects lower activity levels.
Textron eAviation Segment Loss $15 million as compared with a segment loss of $18 million in the third quarter of 2024. The improvement was due to reduced losses.
Finance Segment Revenues $26 million in the third quarter of 2025 as compared to $12 million in last year's third quarter. The increase was largely due to gains on the disposition of noncaptive assets.
Finance Segment Profit $18 million in the third quarter of 2025 as compared to $5 million in the third quarter of 2024. The increase was largely due to gains on the disposition of noncaptive assets.
CJ3 Gen2 and M2 Gen2: Textron Aviation completed certification of the CJ3 Gen2 and autothrottles on the M2 Gen2.
Citation Ascend: The Citation Ascend made its debut at the NBAA exhibition and is nearing completion of the certification process, with deliveries expected this quarter.
Garmin 5000 Avionics Suite: The Latitude received FAA certification for new features, including Synthetic Vision Guidance Systems and improved approach capabilities.
Starlink Connectivity: Starlink high-speed Internet connectivity is now available on 14 platforms across Aviation's product portfolio.
Beechcraft M-346N: Textron Aviation announced a partnership with Leonardo to launch the Beechcraft M-346N for the U.S. Navy Undergraduate Jet Training System competition.
Global Medical Response Agreement: Bell announced a purchase agreement with Global Medical Response for 7 429s and an option for 8 additional helicopters, with deliveries starting in 2026.
Revenue Growth: Revenues increased by 5% to $3.6 billion, driven by growth in aerospace and defense businesses.
Backlog: Aviation backlog ended the quarter at $7.7 billion, and Bell's backlog increased to $8.2 billion, reflecting strong demand.
Manufacturing Cash Flow: Manufacturing cash flow before pension contributions totaled $281 million, up from $147 million in the prior year.
Leadership Transition: Lisa Atherton will become President and CEO in January 2026, with Scott Donnelly transitioning to Executive Chair.
Segment Realignment: Textron will eliminate the Textron Aviation segment as a separate reporting segment, realigning eAviation activities across Textron Aviation and Textron Systems starting fiscal year 2026.
Leadership Transition: The transition of leadership to a new CEO, Lisa Atherton, could pose challenges in maintaining strategic continuity and operational stability during the change.
Commercial Helicopter Deliveries: Bell's commercial helicopter deliveries decreased from 44 to 30 units compared to the same quarter last year, indicating potential challenges in meeting demand or production issues.
Industrial Segment Revenue Decline: The Industrial segment experienced a revenue decline of $79 million, primarily due to the divestiture of the Powersports business, which could impact overall financial performance.
eAviation Segment Loss: The eAviation segment reported a loss of $15 million, reflecting ongoing challenges in this emerging business area.
Defense Volume Decline in Aviation: Textron Aviation reported lower defense volume, which could impact its ability to capitalize on defense-related opportunities.
Lower Commercial Volume at Bell: Bell experienced a $31 million decline in commercial volume, which could affect its revenue growth in the commercial sector.
Tax Rate Impact: The adjusted effective tax rate increased to 25.5% for the quarter, which could impact net profitability.
Expected full year adjusted earnings per share: Reiterated to be in the range of $6 to $6.20.
Expected full year manufacturing cash flow before pension contributions: Maintained in the range of $900 million to $1 billion.
Bell's commercial helicopter deliveries: Deliveries expected to begin in 2026 for the 7 429s purchased by Global Medical Response, with an option for 8 additional helicopters.
Citation Ascend certification and deliveries: Certification process nearing completion, with deliveries expected this quarter.
Textron Aviation's backlog: Ended the quarter at $7.7 billion, indicating strong demand.
Bell's backlog: Ended the quarter at $8.2 billion, reflecting the award for the prototype testing and evaluation phase of the MV-75 program.
Textron Systems' backlog: Ended the quarter at $3.2 billion, reflecting new contract awards for the Ship-to-Shore Connector land vehicles and adversary air business.
Share Repurchase: During the quarter, we repurchased approximately 2.6 million shares, returning $206 million in cash to shareholders. Year-to-date, we have repurchased approximately 8.4 million shares, returning $635 million to shareholders.
The earnings call and Q&A session highlight positive factors such as increased financial metrics, strong demand in aviation, and strategic program accelerations. Despite some supply chain challenges, the company shows confidence in meeting revenue targets. The management's clear responses and strong bookings in various segments further support a positive outlook. The reiterated guidance and increased cash flow projections add to the positive sentiment.
The earnings call reveals mixed signals: while there is growth in aftermarket revenue and some contract awards, there are concerns over margins and cash flow. The Q&A highlights potential growth areas but also notes challenges in margins and capital requirements. The absence of a market cap makes precise prediction difficult, but the overall sentiment is balanced by both positive developments and financial pressures, resulting in a neutral outlook.
The earnings call summary indicates mixed results: strong revenue growth in some sectors, but decreased EPS guidance and increased cash outflows raise concerns. The Q&A section reveals uncertainty around tariffs and demand, further complicating the outlook. However, the share repurchase program and backlog growth provide positive signals. Overall, the sentiment is neutral, with no clear catalyst for a strong price movement in either direction.
The earnings call summary indicates a decrease in EPS and cash flow guidance, lower manufacturing cash flow, and a revenue drop due to a strike. Despite some positive developments, like backlog growth and share repurchases, the Q&A reveals concerns about production ramp-up, supply chain issues, and unclear guidance. The overall sentiment is negative due to lowered financial guidance and operational challenges, likely leading to a stock price decline of 2% to 8%.
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