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. reports developments across an aerospace, defense and industrial portfolio that includes Textron Aviation, Bell, Textron Systems and Textron Industrial. Company news commonly covers Cessna, Beechcraft and Hawker aircraft support; Citation business jet deliveries and fleet orders; Bell helicopter, tilt-rotor and autonomous-aircraft work; and defense programs involving uncrewed aircraft, armored vehicles, simulators and training.
Recurring updates also address factory-direct service centers, aftermarket aircraft upgrades, international certifications, quarterly segment results, dividends and capital-structure actions. Industrial coverage includes Kautex plastic fuel tanks for conventional and hybrid vehicles and specialized vehicle businesses such as golf carts and all-terrain vehicles.
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.
Kautex Textron has secured its first order for a thermoplastic composite underbody battery protection skid plate from an automotive OEM, marking its entry into the battery housing sector. The skid plate is part of Kautex's Pentatonic battery system, aimed at supporting the production of battery electric vehicles. This lightweight solution promises over a 50% weight reduction compared to steel and offers advantages like corrosion resistance, design flexibility, and enhanced serviceability. The Pentatonic system has won multiple awards and has undergone rigorous international testing to meet safety standards.
Textron reported a strong performance for Q4 2022, with EPS from continuing operations at $1.07, up from $0.93 in Q4 2021. Full-year EPS also rose to $4.01 from $3.30. The manufacturing group generated net cash of $1.5 billion for the year, with forecasts for 2023 EPS between $4.40 and $4.60. Key segments showed mixed results; Textron Aviation grew revenues to $1.6 billion, while Bell revenues declined to $816 million. Textron's backlog reached $6.4 billion in Aviation and $4.8 billion in Bell. The 2023 outlook suggests continued revenue growth and operating margin expansion.
Textron Inc. (NYSE: TXT) has appointed Lisa Atherton as the new chief operating officer of the Bell segment, taking over from her role as president & CEO of Textron Systems. Tom Hammoor will succeed Atherton as president & CEO of Textron Systems. Atherton has been with Textron since 2007, while Hammoor brings over 38 years of defense industry experience. Textron's chairman & CEO, Scott C. Donnelly, praised both leaders for their expertise and leadership as the company focuses on the U.S. Army's Future Long-Range Assault Aircraft program.
Textron Aviation has delivered its 3,000th Cessna Grand Caravan EX to Azul Conecta, a subsidiary of Azul Airlines, marking a significant milestone in the aircraft's history. The Cessna Caravan is recognized as the world's most popular utility turboprop, largely due to its versatility and reliability. With this delivery, Azul Conecta strengthens its commitment to connecting remote locations across Brazil, enhancing travel to 158 destinations. Textron Aviation's history of innovation in aircraft design continues to support diverse customer needs, including government, medical, and humanitarian operations.
Kautex Textron, a subsidiary of Textron Inc. (NYSE: TXT), showcased its customized Pentatonic Battery System at CES 2023, part of Stellantis’ RAM Revolution exhibition. This innovative battery system, made from thermoplastic or composite metal, offers advantages such as up to 60% weight reduction and a 40% decrease in CO2 footprint. It has received numerous accolades, including the Enabler Technology Award. The recent testing of the system confirms compliance with international safety standards.
Textron Inc. (NYSE: TXT) will release its fourth quarter 2022 financial results on January 25, 2023, followed by a conference call at 8:00 a.m. Eastern to discuss the results and future outlook. Investors can access the call via webcast or by phone, with a playback option available after 11:00 a.m. Eastern on the same day. Textron operates across various industries, including aircraft and defense, and is known for its brands like Bell and Cessna. For further details, visit www.textron.com.
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Textron Inc. (NYSE: TXT) announced the election of Thomas A. Kennedy to its Board of Directors, effective January 1, 2023. Kennedy, formerly the Executive Chairman of Raytheon Technologies, brings extensive leadership experience in the aerospace and defense sectors. He served as Chairman and CEO of Raytheon from 2014 to 2020 and held various roles during his 38-year tenure there. His appointment is expected to enhance Textron's strategic direction and operational capabilities.
Textron (NYSE: TXT) announced that Bell Textron has secured a contract from the U.S. Army for the Future Long-Range Assault Aircraft (FLRAA) program. The contract emphasizes the V-280 Valor tiltrotor’s proven capabilities following extensive testing over the past decade. Scott C. Donnelly, CEO of Textron, expressed commitment to delivering a transformative weapon system for Army needs. This initial contract focuses on refining design, sustainment, and flight-testing to fulfill Army operational requirements, reinforcing Bell's legacy in vertical lift solutions.