Textron (TXT) Tops Q2 EPS by 18c, Raises FY Guidance

Textron (NYSE: TXT) reported Q2 EPS of $0.87, $0.18 better than the analyst estimate of $0.69. Revenue for the quarter came in at $3.73 billion versus the consensus estimate of $3.53 billion.

GUIDANCE:

Textron sees Q3 2018 EPS of $3.15-$3.35, versus the consensus of $3.16.

The company also expects full-year 2018 cash flow from continuing operations of the manufacturing group before pension contributions to be in a range of $750 to $850 million, up $50 million from its previous expectation.

Textron expects a one-time gain of approximately $400 million from the Tools & Test divestiture in the third quarter of 2018, which is not reflected in this updated outlook.

“Our updated outlook reflects our strong first-half performance and the continuation of our strategy of growth through new product investments and acquisitions to increase long-term shareholder value,” Donnelly concluded.

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

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