Textron Stock Price, News & Analysis

Textron Aviation has secured a purchase agreement with flyExclusive for up to 14 additional Cessna Citation business jets, including eight Citation XLS Gen2 and up to six Citation Longitudes, with initial deliveries set for 2024 and 2025. This deal enhances flyExclusive's offerings in the fractional ownership segment, which is experiencing rapid growth. Additionally, Textron Aviation is expanding its order by five Citation CJ3+ aircraft from a previous agreement. The collaboration underscores Textron's commitment to innovative aviation solutions and robust relationships with operators.

Textron Aviation has announced a major expansion of its parts distribution operations in Wichita, Kansas, with an addition of 180,000 square feet. This move aims to enhance parts availability for Cessna, Beechcraft, and Hawker aircraft worldwide. The expansion supports inventory growth for new models and includes features like a dedicated customer lane for part drop-off and pick-up. The project will incorporate energy-efficient systems, aiming to reduce vehicle travel by 40,000 miles annually. Construction is set to begin this month, expected to be completed by the end of 2023.

Textron Aviation Defense has delivered its 1,000th Beechcraft T-6C Texan II aircraft, marking a major milestone with over 5 million flight hours logged across the global T-6 fleet. The T-6C, which serves as an advanced military training aircraft, was delivered to the Colombian Air Force. Textron's T-6 Integrated Training Systems are recognized for their efficiency, cost-effectiveness, and high manufacturing readiness, maintaining a leading position in military flight training for over two decades.

Textron Inc. (NYSE: TXT) will announce its Third Quarter 2022 financial results on October 27, 2022, followed by a conference call at 8:00 a.m. Eastern to discuss the results and company outlook. The call will be available through a webcast on the Textron website and via direct dial. A recording of the call will be available from 11:00 a.m. Eastern the same day. Textron operates across industries, leveraging its global network to offer innovative solutions.

Garmin has been selected by Arctic Cat, a Textron subsidiary, to exclusively provide customized 5.5-inch Tread navigators for its 2023 Wildcat XX Black Hills Edition side-by-side vehicles. This collaboration enhances the off-road experience with Garmin's advanced trail mapping and GPS capabilities, integrated into a rugged device designed for harsh terrains. The Wildcat model features a powerful 998cc engine and specialized suspension for optimal performance, reflecting a strategic partnership aimed at delivering cutting-edge technology to users.

Kautex Textron GmbH & Co. KG has been awarded the AutomotiveINNOVATIONS Award by the Center of Automotive Management and Price Waterhouse Coopers for its innovative Allegro Premium cleaning system. This software-controlled system is designed for autonomous vehicles and ADAS, optimizing cleaning based on real-time conditions such as weather and speed. Out of approximately 400 suppliers, Kautex was recognized during a ceremony in Frankfurt. The award highlights Kautex's commitment to enhancing vehicle safety and performance through advanced cleaning solutions.

Textron reported a solid second quarter in 2022, achieving earnings of $1.00 per share, up from $0.81 in Q2 2021. The company's aviation segment saw revenue growth to $1.3 billion, driven by higher aircraft sales and aftermarket services. Despite an increase in cash flow expectations for the year to $800-$900 million, net cash from operating activities fell to $364 million from $572 million last year. Share repurchases totaled $282 million. However, the Bell segment faced a decline in revenue by $204 million due to lower military and commercial sales.

The Board of Directors of Textron Inc. (NYSE:TXT) has declared a quarterly dividend of $0.02 per share on its Common Stock. The dividend will be paid on October 1, 2022, to shareholders on record as of September 9, 2022. This marks the company's ongoing commitment to returning value to shareholders while continuing to leverage its diverse global operations across industries including aircraft, defense, and finance.

Textron Aviation Defense announced that its Beechcraft AT-6E Wolverine has achieved Military Type Certification from the United States Air Force, facilitating global sales. This multi-mission aircraft is designed for light attack and counter-insurgency operations. The certification supports foreign military sales and direct commercial sales processes, enhancing Textron’s position in the defense sector. The AT-6E's unmatched tactical flexibility and operational capabilities are set to meet a variety of military needs, following contracts from the U.S. and Thai Air Forces.