Textron (TXT) Misses Q3 EPS by 6c

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Go back to Textron (TXT) Misses Q3 EPS by 6c

Textron Reports Third Quarter 2016 Results; Narrows Full-Year EPS Guidance Range

October 20, 2016 6:30 AM EDT

PROVIDENCE, R.I.--(BUSINESS WIRE)-- Textron Inc. (NYSE: TXT) today reported third quarter 2016 income from continuing operations of $1.10 per share compared to $0.63 per share in the third quarter of 2015. During this years third quarter, the company recorded a tax benefit of $0.76 per share related to settlement of U.S. Internal Revenue Service audits and recorded a $115 million pre-tax restructuring charge ($0.27 per share, after-tax). Excluding these items, adjusted income from continuing operations, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, was $0.61 per share for the... More