Textron Earnings Come in Mixed (TXT)
- Updated: July 17, 2013
Textron (NYSE: TXT) reported second quarter earnings before the opening bell on Wednesday. EPS came in at $0.40 versus analyst expectations of $0.32 and revenue was $2.8 billoin versus consensus of $3.01 billion.
The company reported a drop in its second quarter profit. It declined to $113 million from $172 one year ago.
“Despite weakness in European markets, we saw solid growth at Textron Systems and our Industrial businesses, as well as continued strong commercial orders at Bell,” said Textron Chairman and CEO Scott C. Donnelly. “On the other hand, business jet demand continued to be soft, but we believe the cost, production and pricing actions we took are the right actions to support future growth at Cessna.”
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems.
[stock-tools exchange="NYSE" symbol="TXT" image_height="230" image_width="350"]
Disclosure: At the time of this writing, the author had no position in the company mentioned.
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