Textron (TXT) Tops Q4 EPS by 2c, Revenues Beat; Raises FY20 Revenue Outlook Above Consensus, FY20 EPS Guidance Below Consensus

Textron (NYSE: TXT) reported Q4 EPS of $1.11, $0.02 better than the analyst estimate of $1.09. Revenue for the quarter came in at $4.02 billion versus the consensus estimate of $3.95 billion.

• Revenue growth of $285 million, up 7.6% from prior year
• The new Citation Longitude enters service with 13 aircraft deliveries in the quarter
• EPS of $0.87; adjusted EPS of $1.11, excluding fourth quarter special charges
• 2020 full-year EPS outlook of $3.50 - $3.70

“Textron Aviation saw double digit revenue growth in the quarter driven largely by initial deliveries of our new Citation Longitude, reflecting our continued investment in new products,” said Textron Chairman and CEO Scott C. Donnelly. “We also saw growth from strong commercial volume at Bell.”

GUIDANCE:

Textron sees FY2020 EPS of $3.50-$3.70, versus the consensus of $3.73. Textron sees FY2020 revenue of $14 billion, versus the consensus of $13.97 billion.

• Textron is forecasting 2020 revenues of approximately $14 billion, up from $13.6 billion. Textron expects full-year 2020 earnings per share will be in the range of $3.50 to $3.70.
• The company is estimating net cash provided by operating activities of continuing operations of the manufacturing group will be between $1,010 million and $1,110 million and manufacturing cash flow before pension contributions (a non-GAAP measure) will be between $700 million and $800 million, with planned pension contributions of about $50 million.

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

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