Textron (TXT) Misses Q3 EPS by 15c, Revenues Miss; FY18 EPS Guidance Range Narrowed

Textron (NYSE: TXT) reported Q3 EPS of $0.61, $0.15 worse than the analyst estimate of $0.76. Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $3.53 billion.

• $468 million returned to shareholders through share repurchases
• Completed sale of Tools & Test product line
• Full-year adjusted EPS guidance narrowed to $3.20 - $3.30 per share
• Full-year cash flow guidance reaffirmed at $750 - $850 million

“Revenues were lower in the quarter, largely reflecting declines at Industrial and Textron Systems,” said Textron Chairman and CEO Scott C. Donnelly. “Operationally, we achieved margin improvements at Aviation and Bell, reflecting strong execution within those segments.”

GUIDANCE:

Textron sees FY2018 EPS of $3.20-$3.30, versus the consensus of $3.32.

For earnings history and earnings-related data on Textron (TXT) click here.

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