Textron (TXT) Releases Earnings Results, Beats Expectations By $0.02 EPS

Textron (TXT) reported quarterly earnings results on Friday, Jul-22-2016. The company said it had a profit of $0.66 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.64. The company posted revenue of $3511.00 million in the period, compared to analysts expectations of $3367.30 million. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

Many Wall Street Analysts have commented on Textron. Textron was Initiated by Morgan Stanley to “Underweight” on Jun 23, 2016.

Textron opened for trading at $38.62 and hit $39.36 on the upside on Wednesday, eventually ending the session at $39.27, with a gain of 1.45% or 0.56 points. The heightened volatility saw the trading volume jump to 11,36,536 shares. Company has a market cap of $10,557 M.

In a different news, on Nov 4, 2015, Cheryl H Johnson (Executive VP, Human Resources) sold 2,121 shares at $42.37 per share price.

Textron Inc. is a multi-industry company engaged in aircraft defense industrial and finance businesses to provide customers with products and services worldwide. It operates in five segments: Textron Aviation Bell Textron Systems Industrial and Finance. Textron Aviation manufactures sells and services Beechcraft and Cessna aircraft and services the Hawker brand of business jets. Bell Helicopter is a supplier of military and commercial helicopters tiltrotor aircraft and related spare parts and services in the world. Textron Systems’ product lines consist of unmanned aircraft systems marine and land systems weapons and sensors simulation training and other defense and aviation mission support products and services. The Industrial segment designs and manufactures a range of products under three principal product lines. The Finance segment provides financing primarily to purchasers of new and pre-owned Textron Aviation aircraft and Bell helicopters.


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