Textron SEC Filings

Textron Inc. filed its Q3 2025 10‑Q reporting higher sales and steady earnings. Total revenue rose 5% to $3,602 million, and diluted EPS from continuing operations was $1.31 versus $1.18 a year ago. Net income was $234 million. Textron Aviation and Bell drove the quarter, with Aviation revenue up to $1,477 million and Bell up to $1,026 million, while Industrial declined to $761 million following the April sale of the Powersports business. Finance revenue increased to $26 million.

Backlog and cash generation strengthened. Remaining performance obligations were $19.1 billion; Bell’s backlog increased 10% to $8,231 million, including a $1.3 billion MV‑75 award. Year‑to‑date operating cash flow was $613 million. The company repurchased $640 million of common stock year‑to‑date, ending with 176,224,064 shares outstanding as of October 10, 2025. The balance sheet showed cash and equivalents of $1,522 million and total shareholders’ equity of $7,493 million.

Capital structure and taxes: Textron issued $500 million of 5.50% notes due 2035 (net proceeds $495 million). The Q3 effective tax rate was 25.6%, reflecting provisions of the newly enacted One Big Beautiful Bill Act. Management noted that an ongoing U.S. Government shutdown could disrupt program timing and cash collections if prolonged.

Textron Inc. (TXT) filed a Form 8-K to announce financial results for the fiscal quarter ended September 27, 2025. The company issued a press release, furnished as Exhibit 99.1, detailing quarterly performance.

The press release includes management’s discussion of non-GAAP financial measures and why they believe these metrics are useful to investors. The filing also includes Exhibit 104 (Cover Page Interactive Data File).

Textron Inc. appointed Lisa M. Atherton as its next President and Chief Executive Officer and to the Board, effective January 4, 2026. She succeeds Scott C. Donnelly, who will remain Chairman and become Executive Chairman on the same date.

Atherton’s compensation includes a $1.3M annual base salary, target annual incentive at 150% of salary, and a 2026 long‑term incentive award targeted at $10M in performance share units, restricted stock units, and options. Donnelly, as Executive Chairman, will receive a $1.485M base salary, a 170% target annual incentive, and a 2026 long‑term incentive award targeted at $4.8M. The Board also amended the by‑laws to provide for an Executive Chairman role distinct from the CEO.

Textron Inc. entered a new $1.0 billion senior unsecured revolving credit facility with a syndicate of lenders and JPMorgan Chase Bank, N.A. as Administrative Agent. The facility can be increased to up to $1.3 billion and expires on October 16, 2030, with up to two one‑year extensions at Textron’s option with consent from lenders holding more than 50% of commitments. It replaces the prior $1.0 billion five‑year facility that was scheduled to expire on October 21, 2027.

Borrowings may bear interest at a Base Rate plus a margin that ranges from 0 to 30 basis points; at Textron’s current ratings (BBB/Baa2), the Base Rate Margin is 14 bps. Alternatively, borrowings may accrue at the Term SOFR Rate plus a margin that ranges from 91 to 130 bps. A quarterly facility fee is payable on commitments, ranging from 9 to 20 bps; at current ratings, the fee is 11 bps. The facility also provides up to $100 million for letters of credit. Customary covenants and events of default apply, and a Change of Control is an event of default.

Textron Inc. (TXT) will eliminate its Textron eAviation reporting segment, realigning those activities into other segments effective January 4, 2026, the start of its 2026 fiscal year.

Under the plan, a significant part of Textron eAviation, including Pipistrel, will move to the Textron Aviation segment to leverage development, manufacturing and sales expertise. Manned and unmanned products for military applications, along with related R&D, will be reported within Textron Systems to align with that customer base. Certain R&D focused on digital flight control and air vehicle management systems will be reported within Corporate expenses.

Ongoing reporting segments will be Textron Aviation, Bell, Industrial, Textron Systems and Finance. Textron will begin reporting under this structure with its first quarter 2026 Form 10-Q, and prior year segment data will be recast after that filing. The Q4 2025 Earnings Call Presentation will provide certain 2025 recast information.

Textron Inc. (TXT) filed a Form 144 indicating a proposed insider sale. The unidentified filer plans to dispose of 28,543 common shares through Fidelity Brokerage on the NYSE around 25 Jul 2025. At the filing date the shares carried an aggregate market value of $2.27 million, implying an average price near $79.40. The planned sale represents roughly 0.016 % of Textron’s 178.2 million shares outstanding, suggesting limited dilution or market impact.

The shares derive from two employee stock-option grants (3 Mar 2017 and 3 Mar 2020) that were exercised for cash on the same day as the intended sale. No prior sales were reported in the past three months. The signer certifies no possession of undisclosed material adverse information.

Key take-aways for investors:

• Modest insider sale from option exercises; proceeds likely for personal liquidity.
• No indication of broader strategic change or operational weakness.
• Because the transaction is small relative to float, price pressure should be minimal, but insider sentiment warrants monitoring if additional sales follow.

Textron (TXT) Q2-25 10-Q highlights

Revenue rose 5% YoY to $3.72 bn as higher military work at Bell (+28% to $1.02 bn) and steady demand at Textron Aviation offset an 8% slide at Industrial after the April divestiture of the Powersports unit. Segment profit inched up 1% to $346 m, but Manufacturing gross margin narrowed 60 bp to 18.8% on mix, inflation and a $38 m LIFO charge. Net income from continuing ops fell 6% to $245 m; diluted EPS was flat at $1.35 thanks to a 7% lower share count.

For six months, revenue reached $7.02 bn (+5%) and diluted EPS improved 4% to $2.48. Operating cash flow dropped to $264 m (-27%) on a $284 m inventory build. The company repurchased $429 m of shares and issued $500 m of 5.50% notes due 2035, lifting total debt to $3.4 bn while ending with $1.43 bn in cash.

• Backlog declined 6% YTD to $16.9 bn, driven by Bell (-8%) and Systems (-16%).
• R&D expense jumped 30% to $137 m, largely supporting the U.S. Army’s FLRAA program.
• Special charges of $8 m relate to a Textron Systems restructuring (≈85 positions) and a $4 m gain on the Powersports sale.

The effective tax rate was 18.6%; management expects the newly enacted “One Big Beautiful Bill Act” to raise 2025 cash flow but increase the full-year tax rate.