Textron (TXT) Tops Q2 EPS by 21c, Revenues Beat

Textron (NYSE: TXT) reported Q2 EPS of $0.13, $0.21 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $2.47 billion versus the consensus estimate of $2.35 billion.

• Cash flow from operations of $245 million
• Bell revenue up 7% from prior year, operating margin of 14.4%
• Textron Systems revenue up 6% from prior year, operating margin of 11.3%
• Restarted manufacturing operations at Aviation and Industrial segments

“Our defense businesses performed extremely well with both revenue growth and strong operating performance in the quarter, while our commercial businesses worked diligently to reduce costs and mitigate the impacts of temporary plant closures,” said Textron Chairman and CEO Scott C. Donnelly. “The outstanding efforts of our teams in response to the challenging conditions arising from the pandemic drove strong cash performance and positive adjusted earnings in the quarter.”

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

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