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Textron Inc. - TXT STOCK NEWS

Welcome to our dedicated page for Textron news (Ticker: TXT), a resource for investors and traders seeking the latest updates and insights on Textron stock.

Textron Inc. (NYSE: TXT) is a multi-industry company leveraging its global network across various sectors, including aircraft, defense, industrial, and finance businesses, to provide innovative solutions and services. Known globally for its powerful brands, Textron encompasses names such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems.

Textron designs, manufactures, and services an array of specialty aircraft, including small jets, propeller-driven airplanes, helicopters, and tilt-rotor aircraft. The firm's aviation segment is renowned for producing and servicing Cessna and Beechcraft planes. Additionally, Bell Helicopter serves both commercial and military customers with its sophisticated helicopters and tilt-rotor aircraft.

In the defense sector, Textron Systems stands out for its production of uncrewed aircraft and armored vehicles, catering primarily to the military market. The company also excels in aircraft simulators and training for both commercial and military purposes. Furthermore, the industrial segment, featuring the Kautex business, manufactures plastic fuel tanks for conventional and hybrid motor vehicles, alongside subsidiaries that produce specialized vehicles such as golf carts, snowmobiles, and all-terrain vehicles.

One of Textron's most notable recent developments involves a collaboration with Kodiak Robotics, Inc., a leading self-driving technology developer. Together, they aim to create an autonomous military ground vehicle specifically designed for driverless operations. By integrating Kodiak's advanced autonomous system, the Kodiak Driver, into Textron Systems' uncrewed military vehicle prototype, this partnership signifies a major advancement in autonomous technology for military applications.

Textron Systems boasts over three decades of expertise in developing uncrewed land, air, and sea systems, making significant contributions to various military programs. This partnership with Kodiak is expected to bring cutting-edge AI-powered, autonomous technologies to military customers worldwide, enhancing the functionality, adaptability, and reliability of their technologies.

Textron's dedication to innovation and excellence is further evidenced by its continuous efforts in research and development, aiming to stay ahead in introducing new products and enhancing existing ones. The company's commitment to providing advanced solutions to support defense, aerospace, and other customer missions underscores its position as a leader in multiple industries.

For more detailed information and career opportunities, visit Textron's official website.

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Textron Aviation unveils the 'Crimson Edition' of the Beechcraft King Air 260 and 360 turboprops to celebrate the aircraft's 60th anniversary. This special edition features a striking new interior and a vibrant red and silver exterior paint scheme, inspired by six decades of legendary Beechcraft customers and operators.

Key highlights include:

  • Deliveries beginning in 2025
  • Iconic Beechcraft 'B' on the aircraft's tail
  • New boarding step with hidden fasteners
  • Custom interior with dark leather seats, Alcantara accent panels, and crimson accent piping
  • Charcoal carpeting with crimson arcs

The King Air series has delivered over 7,800 aircraft since 1964, accumulating more than 64 million flight hours worldwide. It serves in all branches of the U.S. military and various commercial and special mission roles globally.

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Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, has announced significant enhancements to its Cessna Caravan and Cessna Grand Caravan EX utility turboprop aircraft. The upgrades, set to be available in 2025, include a modernized flight deck with new backlit panels and various amenities to improve the pilot experience. Key enhancements include:

  • All-new black cockpit panels for a contemporary look
  • Electroluminescent Lighting panels for improved visibility
  • Wider cockpit boarding ladder
  • Four adjustable air nozzles
  • USB-C charging ports
  • Standard power headset jacks
  • Headset hooks

These upgrades reflect Textron Aviation's commitment to customer feedback and continuous improvement of their aircraft.

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Textron Aviation, a Textron Inc. (NYSE: TXT) company, unveiled its new military multi-engine training aircraft at the 2024 Farnborough International Airshow. The aircraft, based on the Beechcraft King Air 260, was selected in 2023 for the United States Navy's Multi-Engine Training System (METS) program. Deliveries for up to 64 METS aircraft began on April 22, 2024.

Canada also announced its acquisition of the Beechcraft King Air 260 for the Royal Canadian Air Force's Future Aircrew Training program. The aircraft offers excellent value for military training due to its cost-effectiveness, speed, range, and payload capacity. It features specialized capabilities including TACAN, angle of attack, and engine trend monitoring.

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Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, has expanded its relationship with Gama Aviation, designating them as an Authorized Sales Representative (ASR) for Textron Aviation Special Missions aircraft in the United Kingdom and Ireland. This expansion allows Gama Aviation to feature special missions variants of the entire Cessna and Beechcraft aircraft portfolio.

The partnership aims to provide enhanced support and convenience for new and existing customers in the region. Gama Aviation's expertise in maintenance, design, and operation of Textron Aviation platforms for Air Ambulance and Intelligence, Surveillance and Reconnaissance missions positions them well to advise on Special Missions configurations. This collaboration strengthens the total support available in the U.K. and Ireland for Textron Aviation's special missions aircraft.

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Textron Inc. (NYSE: TXT) reported strong Q2 2024 results, with EPS of $1.35 and adjusted EPS of $1.54, up from $1.46 in the prior year. The company generated $383 million in net cash from operating activities and returned $358 million to shareholders through share repurchases. Textron Aviation saw increased revenues of $1.5 billion, up $113 million from last year, while Bell's revenues rose to $794 million. The company's backlog remains robust, with Textron Aviation at $7.5 billion and Bell at $4.2 billion. Despite some challenges in the Industrial segment, Textron demonstrated overall growth and strong cash flow generation.

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Textron Aviation has announced the delivery of its first Cessna SkyCourier twin-engine utility turboprop with a Combi interior conversion to Everts Air, an Alaskan-based operator.

This newly certified option, approved by the FAA in May 2024, allows for the accommodation of both passengers and cargo simultaneously, enhancing the aircraft’s versatility. Everts Air, which operates in Alaska and throughout the Americas, will add this aircraft to its existing fleet, including the SkyCourier freighter variant and six Cessna Caravans.

Textron's senior VP, Lannie O’Bannion, highlighted the aircraft's adaptability for diverse missions and global markets, serving various sectors like government, law enforcement, and commercial operations. The Combi conversion option joins the existing gravel kit and full freighter conversion, providing greater operational flexibility.

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Textron (NYSE: TXT) will release its second quarter 2024 financial results on July 18, 2024, followed by a conference call at 8:00 a.m. Eastern. This event will cover the company's earnings, revenue, and future outlook. The call can be accessed via webcast on Textron's official website or by phone at (844) 867-6169 in the U.S. and (409) 207-6975 internationally using Access Code: 8602005. A recorded playback will be available from 11:00 a.m. Eastern on the same day by dialing (402) 970-0847 with Access Code: 4306608.

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Textron Aviation announced the successful flight of its second Cessna Citation Ascend flight test article (P1). The flight lasted 1 hour and 24 minutes, achieving a maximum altitude of 13,500 feet and a speed of 308 knots. This milestone follows the initial flight of the Ascend prototype in 2023. The Citation Ascend, unveiled at the 2023 European Business Aviation Convention & Exhibition (EBACE), is set to enter service in 2025. The P1 aircraft, which is the first conforming production flight test aircraft, will primarily test systems including propulsion, human factors, environmental control, and avionics. The certification program expects to complete testing with the two test articles and has accumulated over 400 flight hours so far.

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Textron E-Z-GO, a leader in golf cart manufacturing, celebrates its 70th anniversary by establishing National Golf Cart Day on June 13, 2024. The event marks the founding of E-Z-GO in 1954 and is accompanied by nationwide promotions. Celebrations include $500 off all vehicles (with up to $3,400 off on certain promotions), 0% APR for 36 months, 2.99% APR for 48 months, and 35% off select parts and accessories. Purchasers from June 13 to June 15 will enter a drawing for four Universal Orlando tickets and a two-night hotel stay in Orlando. Follow events on Instagram and X with #NationalGolfCartDay.

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Textron Aviation is expanding its operations in Australia by modernizing facilities and boosting parts availability for Cessna, Beechcraft, and Hawker aircraft. The company is moving to larger service centers at Jandakot Airport in Perth and Essendon Fields Airport in Melbourne. The Perth facility aims to enhance capacity and customer service, while the Melbourne expansion will quadruple parts storage space. Additionally, Premiair Aviation Maintenance, acquired in 2020, has been rebranded as Textron Aviation Australia to fully integrate into Textron's global network. The expansions are expected to be operational by mid-2024.

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FAQ

What are Textron Inc.'s main business segments?

Textron Inc. operates in various segments including aircraft, defense, industrial, and finance.

What are some of the brands under Textron Inc.?

Some notable brands include Bell Helicopter, Cessna, Beechcraft, Jacobsen, Kautex, Lycoming, and E-Z-GO.

What types of aircraft does Textron manufacture?

Textron manufactures small jets, propeller-driven airplanes, helicopters, and tilt-rotor aircraft.

Who are Textron's main customers?

Textron serves both commercial and military customers across its various business segments.

What is the significance of Textron's collaboration with Kodiak Robotics?

The collaboration aims to develop an autonomous military ground vehicle, integrating advanced AI-powered autonomous technology.

How long has Textron Systems been involved in uncrewed vehicle development?

Textron Systems has over three decades of experience in developing uncrewed land, air, and sea systems.

Where can I find more information about Textron's career opportunities?

For career opportunities, visit Textron's official website at www.textron.com/careers.

Does Textron offer training and simulation services?

Yes, Textron Systems provides aircraft simulators and training services for both commercial and military markets.

What is Kautex's role within Textron?

Kautex manufactures plastic fuel tanks for conventional and hybrid motor vehicles and is part of Textron’s industrial segment.

How does Textron contribute to national security?

Textron develops advanced defense technologies, including uncrewed military vehicles, to support military operations and enhance national security.

Textron Inc.

NYSE:TXT

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17.14B
190.70M
0.63%
86.52%
2.47%
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