Textron Stock Price, News & Analysis

Textron (TXT) reported Q3 2024 earnings with EPS of $1.18 and adjusted EPS of $1.40, down from $1.49 in the prior year. The company's performance was significantly impacted by an IAM strike at Textron Aviation, which has since been resolved with a new five-year contract. Net cash from operating activities was $208 million, and the company returned $215 million to shareholders through share repurchases. Due to the strike's impact, Textron lowered its 2024 adjusted EPS guidance to $5.40-$5.60 from $6.20-$6.40, and reduced manufacturing cash flow guidance to $650-$750 million from $0.9-$1.0 billion.

Textron Inc. (NYSE:TXT) has announced significant leadership changes in its financial team. Frank T. Connor, executive vice president and chief financial officer, will retire on February 28, 2025. David Rosenberg, currently vice president of Investor Relations, will succeed Connor as CFO effective March 1, 2025. Rosenberg brings over 24 years of aviation industry experience, including serving as CFO of Textron Aviation and leading the successful merger of Beechcraft and Cessna Aircraft. Additionally, Scott Hegstrom, current vice president of Strategy and Mergers & Acquisitions, will assume the role of vice president of Investor Relations.

Textron (NYSE:TXT) has announced its quarterly dividend declaration. The company's Board of Directors has approved a dividend payment of $0.02 per share on its Common Stock. The dividend will be paid on January 1, 2025, to shareholders who are registered as holders of record at the close of business on December 13, 2024.

Textron Aviation announced that the Cessna Citation Ascend, expected to enter service in 2025, will be equipped with the latest enhancements to the Garmin G5000 avionics suite. The Ascend program has accumulated nearly 600 flight hours through more than 200 flights with two test articles. The aircraft will feature advanced technologies including Synthetic Vision Guidance System (SVGS), expanded Synthetic Vision Technology (SVT) capabilities, enhanced traffic awareness, and advanced connectivity options. These enhancements aim to reduce pilot workload, improve situational awareness, and provide a superior aviation experience for customers in the midsize business jet market.

Textron Aviation has announced a new high-speed internet connectivity solution for Beechcraft King Air B200/300 and Cessna Citation 560XL series aircraft. This follows the FAA's issuance of AeroMech's Supplemental Type Certificate (STC) for Starlink high-speed internet connectivity. The system utilizes Starlink's Low Earth Orbit (LEO) satellite constellation, providing more reliable connectivity over land, water, and remote areas.

Brian Rohloff, senior vice president of Customer Support, emphasized the importance of in-flight connectivity for customers using their aircraft as mobile offices. The upgrade can be scheduled for installation at North American Textron Aviation Service Centers and select International Service Centers. AeroMech's STC uses Starlink's 'standalone system,' consisting of an antenna, power supply, and router, requiring only power input from the aircraft.

Gogo Business Aviation announced that Textron Aviation will install Gogo's global Low-Earth-Orbit (LEO) solution, Gogo Galileo HDX, as a factory option for the Cessna Citation Longitude, Citation Latitude and Citation Ascend business jets. Textron Aviation is the first business aviation OEM to offer Gogo Galileo HDX from the factory, providing a global connectivity solution with market-leading performance for its operators.

Gogo Galileo is built on Gogo's AVANCE platform with a fuselage-mounted HDX antenna, designed to be small enough for business jets. The system is more affordable and easier to install and operate than other satellite systems. Gogo Galileo HDX is expected to launch commercially in the fourth quarter of 2024, with Textron Aviation's integration of the HDX antenna in progress for all three Citations.

Textron Aviation has announced the selection of Gogo Business Aviation's global Low-Earth-Orbit (LEO) solution, Gogo Galileo HDX, for factory installation on the Cessna Citation Longitude, Latitude and Ascend. This makes Textron Aviation the first business aviation OEM to offer Gogo Galileo HDX as an option on new customer aircraft.

The system, built on Gogo's AVANCE platform, features a fuselage-mounted HDX antenna designed for business jets, making it more affordable and easier to install than other satellite systems. Gogo Galileo HDX is expected to be available on the Citation Longitude beginning early 2026, with timing for other aircraft to be announced later.

Textron Aviation announced the successful first flight of its Cessna Citation CJ4 Gen3 prototype aircraft in early October. This milestone follows the unveiling of three new Gen3 products in the Citation light jet family at NBAA-BACE in Las Vegas. The CJ4 Gen3, designed and manufactured by Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company, completed a 1 hour and 47-minute flight from Wichita's Eisenhower National Airport.

The flight test program will now enter a rigorous testing phase to ensure the aircraft meets high performance standards. The CJ4 Gen3 is the first business jet to feature the Garmin G3000 PRIME avionics suite, along with Garmin Autothrottles and Emergency Autoland. These advancements aim to enhance operational efficiency and reduce pilot workload. The aircraft is expected to enter service in 2026.

Textron Aviation has announced Ryan Samples as the launch customer for its new Cessna Citation CJ4 Gen3 business jet, unveiled at NBAA-BACE in Las Vegas. Samples, a longtime Cessna Citation customer, has entered a purchase agreement for the first CJ4 Gen3, expected to enter service in 2026.

The CJ4 Gen3 is part of Textron Aviation's introduction of three new Citation Gen3 aircraft, including the CJ3 Gen3 and M2 Gen3. All three will feature Garmin Autothrottles and Emergency Autoland. The CJ4 Gen3 will be the first to include the next-generation Garmin G3000 PRIME avionics.

Textron Aviation highlights the CJ4 Gen3's responsive handling, advanced avionics, and quality. It boasts nearly 10% lower operating costs than its closest competitors and offers class-leading range at any payload.