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 unveiled the Beechcraft King Air 260, enhancing the legendary 200 series turboprop. Key upgrades include the IS&S ThrustSense Autothrottle, a new digital pressurization controller, and the Collins Aerospace Multi-Scan weather radar, aimed at easing pilot workloads. Production has commenced, with certification and deliveries slated for early 2021. This follows the King Air 360's FAA certification achieved in October. Textron emphasizes customer feedback in these advancements, reinforcing its commitment to innovation in aviation.
Textron Inc. (NYSE: TXT) has announced a definitive agreement to sell its non-U.S. businesses under TRU Simulation + Training Inc. to CAE Inc. for US$40 million. The transaction includes the sale of TRU Simulation + Training Canada, operations in France and Malaysia, and a minority interest in Iceland. It is subject to regulatory approvals and is expected to close in late 2020 or early 2021. The sale does not affect Textron's Florida operations that focus on simulators for aviation and rotorcraft.
Textron Inc. (NYSE:TXT) has dismissed a purported tender offer from Xcalibur Aerospace Ltd. as fictitious and in violation of U.S. securities laws. The company has previously received similar unsolicited offers from Xcalibur, which failed to provide necessary financial details. Textron has notified relevant authorities about this recent offer and urges investors to rely only on properly filed materials with the SEC. Until a valid offer is presented, Textron will not make further comments regarding the matter.
Textron reported third quarter 2020 net income of $0.50 per share, down from $0.95 in Q3 2019. Adjusted net income was $0.53 per share, excluding $7 million of restructuring charges. Textron Aviation revenues fell to $795 million, with a segment loss of $29 million, primarily due to lower jet and turboprop volumes affected by the pandemic. However, Bell's revenues rose to $793 million, supported by military demand. Overall, cash flow from manufacturing operations increased to $368 million, reflecting strong execution amid 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 is set to be paid on January 1, 2021, to shareholders on record as of December 11, 2020.
Textron is a multi-industry company renowned for its global brands, including Bell, Cessna, and Beechcraft, offering innovative solutions across aircraft, defense, industrial, and finance sectors.
Textron Inc. (NYSE:TXT) is set to release its third quarter 2020 financial results on October 29, 2020. A conference call will follow at 8:00 a.m. Eastern, discussing the results and the company’s outlook. Interested parties can access the call via webcast or by direct dial. A recorded playback will be available later that day at 11:00 a.m. Eastern. Textron is recognized for its diverse brands including Bell, Cessna, and Beechcraft, offering innovative solutions across various industries.