Textron Stock Price, News & Analysis

Textron Inc. (NYSE: TXT) is set to release its third quarter 2021 financial results on October 28, 2021. A conference call to discuss the results and outlook will take place at 8:00 a.m. (Eastern) the same day, accessible via webcast or by phone. The call will also be recorded for later playback starting at 11:00 a.m. Textron is recognized for its diverse portfolio, including renowned brands like Bell and Cessna, and operates across various sectors such as defense, industrial, and finance.

Textron Aviation has reached a significant milestone with its Beechcraft King Air 360/360ER and King Air 260 models, receiving European Aviation Safety Agency (EASA) type certification. Deliveries to customers in Europe will commence, building on the King Air's longstanding reputation in the region, where over 460 units are in operation. The King Air 360 boasts a maximum range of 3,345 km, while the King Air 260 offers 3,185 km. Both models incorporate advanced technologies for enhanced pilot support and passenger comfort.

Textron reported a strong second quarter 2021, achieving income from continuing operations of $0.81 per share, up from $0.13 per share in 2020. Cash flow from operations reached $572 million, significantly higher than last year's $245 million. The company anticipates 2021 EPS between $2.97 and $3.21, reflecting optimism in business aviation and ongoing investments in new technologies. Segment performance highlighted Textron Aviation with revenues of $1.2 billion, up $414 million year-over-year, while Industrial revenues rose to $794 million, an increase of $232 million.

The Board of Directors of Textron (NYSE:TXT) has declared a quarterly dividend of $0.02 per share on its Common Stock. The dividends will be disbursed on October 1, 2021 to shareholders on record as of the close of business on September 10, 2021.

Textron operates across various industries, utilizing its global network to deliver innovative solutions, and features well-known brands including Bell, Cessna, and E-Z-GO.

Textron Aviation announced the realignment of its turboprop lineup, introducing the single-engine Beechcraft Denali alongside the twin-engine Beechcraft King Air 260 and King Air 360/360ER. The Denali is set for its first flight later this year, boasting enhanced capabilities, a large cabin, and projected lower operating costs. Key features include a Garmin G3000 avionics suite, a range of 1,600 nautical miles, and a fuel-efficient GE Aviation Catalyst engine. The Denali's development is progressing well, with certification anticipated in 2023.

Textron Aviation announced a purchase agreement with Surf Air Mobility for up to 150 Cessna Grand Caravan EX aircraft, including an initial order of 100. This partnership aims to develop hybrid electric aircraft utilizing Surf Air's proprietary technology, marking a significant push towards electrified regional air travel. Deliveries are expected to commence in Q2 2022, subject to financing and certification. This collaboration highlights the adaptability of the Grand Caravan in passenger and cargo operations, aligning with sustainability goals in aviation.

Surf Air Mobility announced a partnership with Textron Aviation to develop hybrid electric Cessna Grand Caravan aircraft, beginning with an order of up to 150 units. The initial order includes 100 aircraft, expected to debut in 2024, aimed at reducing operating costs and emissions by 25%. This innovative aircraft promotes efficient regional travel while connecting more airports across the U.S. The agreement entails joint marketing efforts to facilitate broader adoption of electrified air travel.

Textron Aviation announced the certification of its flagship Cessna Citation Longitude super-midsize business jet by the European Aviation Safety Agency (EASA). This certification enables customer deliveries in Europe to commence. The Longitude offers class-leading comfort, low operating costs, and features such as a spacious, quiet cabin and advanced connectivity. It has a range of 6,482 kilometers and can accommodate up to 12 passengers. The aircraft's versatility allows it to be used for various missions, including air ambulance services. Textron Aviation supports the Longitude with a global customer service network.

Textron Inc. (NYSE: TXT) will announce its second quarter 2021 financial results on July 29, 2021. Following the release, a conference call is scheduled for 8:00 a.m. (Eastern) to discuss the financial results and provide an outlook for the company. The call will be accessible via webcast on Textron's website or by dialing specific numbers for U.S. and international participants. A recorded playback will be available after the call at 11:00 a.m. (Eastern) on the same day.