Textron Stock Price, News & Analysis

Textron Inc. (NYSE: TXT) reported a first-quarter 2023 net income of $0.92 per share, a rise from $0.88 per share in Q1 2022. Adjusted EPS increased to $1.05 from $0.97. The company generated $153 million from operating activities, down from $225 million last year. Revenue growth was noted in Aviation, Industrial, and Systems, while Bell revenues declined by $213 million to $621 million. Textron returned $377 million to shareholders through share repurchases. The Aviation segment saw revenues of $1.1 billion, up by $109 million, with a backlog of $6.5 billion. Textron Systems' revenue was $306 million with a backlog of $2.0 billion. The company held a conference call on April 27, 2023, to discuss its financial results and outlook.

The Board of Directors of Textron (NYSE:TXT) has announced a quarterly dividend of $0.02 per share on its Common Stock. This dividend will be paid on July 1, 2023, to shareholders of record by the close of business on June 9, 2023. Textron Inc. operates in multiple industries, leveraging its global network to offer innovative solutions across aircraft, defense, and industrial sectors. Known for brands like Bell and Cessna, Textron continues to maintain a strong market presence.

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Textron Inc. (NYSE: TXT) has appointed Lisa Atherton as the new president and CEO of the Bell segment, effective April 28, 2023. Atherton has been a part of Textron for 16 years, previously serving as COO of Bell and holding leadership roles within Military Programs. She succeeds Mitch Snyder, who is retiring after leading Bell for over seven years.

Chairman & CEO Scott C. Donnelly praised Atherton’s leadership and team-building skills, expressing confidence in her ability to drive future growth at Bell. Under Snyder's leadership, Bell launched new technologies and expanded military and commercial programs.

Textron Inc. (NYSE: TXT) will release its first quarter 2023 financial results on April 27, 2023, at 8:00 a.m. Eastern. The company will host a conference call to discuss its results and future outlook, available via webcast or direct dial. A recorded playback will be accessible starting at 11:00 a.m. Eastern on the same day. Textron operates across multiple industries, offering solutions through renowned brands such as Bell and Cessna. For further details, visit their website.

The Board of Directors of Textron (NYSE:TXT) has declared a quarterly dividend of $0.02 per share on its Common Stock. This dividend is set to be paid on April 1, 2023, to shareholders of record as of March 10, 2023. Textron operates across multiple industries, leveraging a global network that includes brands such as Bell, Cessna, and E-Z-GO. This dividend reflects the company’s ongoing commitment to returning value to its shareholders.

Bell Textron Inc., a subsidiary of Textron Inc. (NYSE: TXT), announced the successful first flight of the Bell 505 helicopter, powered exclusively by 100% Sustainable Aviation Fuel (SAF). This achievement makes the Bell 505 the first single-engine helicopter to fly with 100% SAF. Bell partnered with Safran Helicopter Engines, Neste, GKN Aerospace, and Virent Inc. for this milestone, emphasizing its commitment to sustainability in aviation. The flight aligns with Textron's Achieve 2025 goals, aiming for a 20% reduction in greenhouse gas emissions.

Textron Aviation has secured the Multi-Engine Training System (METS) contract from Naval Air Systems Command (NAVAIR) following a competitive bidding process. The contract involves up to 64 Beechcraft King Air 260 aircraft, designated as T-54A, to modernize training for U.S. Navy, Marine Corps, and Coast Guard personnel. The initial award includes 10 aircraft, with additional options for up to 54 more. Deliveries are set between 2024 and 2026, enhancing the existing fleet of T-44C Pegasus aircraft, which have been in service since 1977. The METS platform will incorporate advanced technology, including virtual and augmented reality training tools.

Textron Aviation has announced the introduction of a gravel kit for its new twin-engine Cessna SkyCourier turboprop. This new feature allows for operations on unimproved runways worldwide, significantly enhancing the aircraft's versatility. The first deliveries of the SkyCourier with the gravel kit will commence later this month. The SkyCourier, certified by the FAA in March 2022, is designed for air freight and passenger transport with a 6,000-pound payload capacity. This kit aims to expand its use among various sectors, including government and humanitarian operations.