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 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.
Kautex Textron, a subsidiary of Textron Inc. (NYSE: TXT), has been awarded the Automotive Division Award by SPE Central Europe for its innovative Pentatonic battery system. Recognized for its lightweight design and reduced carbon footprint, the system is a product of advanced thermoplastic composite technology. Kautex has implemented rigorous testing protocols, meeting international safety standards, and is gearing up for customer trials with the newly installed 5500-ton compression molding machine. This recognition highlights Kautex's commitment to sustainable automotive solutions.
Textron Aviation Defense has delivered the first Beechcraft T-6C Texan II Integrated Training System to the Tunisian Air Force, marking a significant milestone in military collaboration. The Foreign Military Sales (FMS) contract includes eight aircraft, logistics support, training for pilots and maintenance personnel, and spare parts. This delivery positions Tunisia as the thirteenth country to utilize the T-6, which has a proven track record with over 5 million flight hours globally. Further deliveries are planned through 2023.
Boston Materials has successfully raised $12 million in a Series A2 funding round led by Good Growth Capital, involving new strategic investors such as GS Group and PTT Global Chemical. This investment will enhance Boston Materials' ability to expand its Z-axis Fiber™ technology across sectors like consumer electronics, electric vehicles, and fuel cells. The company has reported a significant addressable market exceeding $450 billion and aims to scale manufacturing to meet growing demand.
Textron Inc. (NYSE: TXT) reported third quarter 2022 EPS from continuing operations of $1.06, up from $0.82 in Q3 2021. Net cash from operating activities reached $356 million, an increase from $333 million last year. The aviation backlog grew to $6.4 billion, with a full-year EPS outlook now between $3.90 and $4.00. Manufacturing cash flow guidance is raised to $1.1 billion to $1.2 billion. Despite lower revenues in some segments, profits improved due to favorable pricing, highlighting resilient cash generation amidst supply chain challenges.
The Board of Directors of Textron (NYSE:TXT) has declared a quarterly dividend of $0.02 per share on its Common Stock. This dividend will be payable on January 1, 2023 to shareholders on record as of December 9, 2022. Textron operates globally across multiple industries including aircraft, defense, and finance, renowned for brands such as Bell and Cessna.
Textron Aviation has signed a purchase agreement with Fly Alliance for up to 20 Cessna Citation business jets, including four firm orders and options for 16 more. The first delivery of the XLS Gen2 jet is anticipated in 2023, aimed at enhancing Fly Alliance's luxury private charter services. This order strengthens the existing relationship between Textron and Fly Alliance, with plans to build the fleet to 100 aircraft in the near future. The Citation XLS Gen2 offers significant upgrades and performance efficiencies, reinforcing Textron's commitment to customer-focused aircraft design.
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.