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Textron Reports Higher Revenue in Q4

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Textron, a leading industrial conglomerate, announced higher revenue in its most recent quarter, with its Bell segment playing a significant role in this growth. For the fourth quarter ended Dec. 30, the company reported net income of $198 million, or $1.01 per share in earnings per share (EPS) from continuing operations. This is slightly lower than the previous year’s figure of $226 million, or $1.07 per share in EPS from continuing operations. However, adjusted earnings came in at $1.60 per share, surpassing analysts’ projections of $1.53 per share.

In terms of revenue, Textron saw an increase to $3.89 billion from $3.64 billion. Although analysts polled by FactSet expected revenue of $3.97 billion, the company’s growth is undeniable.

Driving the revenue growth was Textron’s Bell segment, which experienced a $255 million increase to reach $1.1 billion. Textron attributed this growth to higher commercial revenues resulting from increased deliveries, as well as higher military revenues related to the FLRAA program.

Looking ahead to 2024, Textron provided a revenue forecast of approximately $14.6 billion and adjusted earnings ranging from $6.20 to $6.40 per share. Analysts surveyed by FactSet had anticipated revenue of $14.69 billion and adjusted earnings of $5.97 per share.

Textron’s Chief Executive, Scott Donnelly, commented on the company’s 2024 outlook, expressing confidence in higher revenues, increased segment profit, and expansion of operating margins. Donnelly emphasized Textron’s commitment to its growth strategy, which includes ongoing investments in new products and programs aimed at enhancing long-term shareholder value.

Overall, Textron’s latest financial report highlights its strong performance and positive outlook for the future.

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