Textron is hardly the only industrial company that saw its first-quarter results pressured due to the COVID-19 pandemic, and it's important not to dwell too much on this one quarterly snapshot. Here is a look at the good and the bad surrounding Textron following its first-quarter report. Digging into the numbers, the industrial conglomerate's Bell helicopter unit posted strong sales of $823 million, up 11% year over year, with better-than-expected 14% operating margins.
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Try these 10 actionable steps for streamlined, cost-effective marketing during the lockdown. Shed costs and embrace innovation to drive leads and conversions.
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TXT earnings call for the period ending April 4, 2020.
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The U.S. State Department has approved a possible sale to the Philippines of one of two attack helicopter variants, the Defense Security Cooperation Agency said on Thursday in an official notification to the U.S. Congress. The State Department said that the Philippines is considering either the AH-1Z or the AH-64E to modernize its attack helicopter capabilities.
Shares of Textron (NYSE: TXT) fell 10% on Thursday morning after the industrial conglomerate reported first-quarter results that came in well short of expectations. Investors knew the COVID-19 pandemic would significantly affect operations, but that impact was even more severe than imagined. On Thursday morning, Textron reported first-quarter adjusted earnings of $0.35 per share on revenue of $2.78 billion, short of the analyst consensus for $0.47 per share in earnings on revenue of $3 billion.
Textron's (TXT) Q1 results reflect the impact of COVID-19 that affected the company's end markets.
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Textron Inc. (NYSE: TXT) today reported first quarter 2020 net income of $0.22 per share, compared to $0.76 per share in the first quarter of 2019. Adjusted net income, a non-GAAP measure, was $0.35 per share for the first quarter of 2020, which excludes $39 million of pre-tax special charges ($0.13 per share, after-tax) recorded in the first quarter, related to the impairment of intangible assets at Textron Aviation and Industrial due to economic disruptions caused by the COVID-19 pandemic.
TXT earnings call for the period ending April 4, 2020.
Textainer Group Holdings Limited (NYSE:TGH) ("Textainer" or the "Company"), one of the world's largest lessors of intermodal containers, announced today the date for the release of its first quarter 2020 financial results and its participation in an upcoming investor conference.
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Textron investors haven't had much to smile about so far in 2020, but the stock in recent sessions has started to gain back some of what was lost during the COVID-19 pandemic sell-off. Textron had been an underperformer long before the pandemic, but COVID-19 and the outbreak's impact on the economy threatened to further delay the company's hopes for a turnaround. Textron is an industrial conglomerate involved in manufacturing a range of products from helicopters to golf carts to snowmobiles to business jets.
Teaser: Over the past five trading sessions, the defense biggies put up a dismal show, except Boeing.
Industrial companies are doing particularly well, with shares of N95 mask-maker 3M (NYSE: MMM) up 6.2%, construction company MasTec (NYSE: MTZ) rising 10.3%, and aerospace concern Textron (NYSE: TXT) doing best of all -- up 11.2%! It almost goes without saying these days that these stock price gains are not tied to anything specific to the companies whose stocks are enjoying the gains.
Textron (TXT) delivered earnings and revenue surprises of -23.91% and -4.03%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
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While much remains to be seen, a group of experts said this week that could mean a softer landing for the industry in Wichita than what followed the 2008 financial collapse. “They might get off a little better (this time),” Teal Group aviation analyst Richard Aboulafia said of local stakeholders. Aboulafia was part of a digital panel discussion held this week by Aviation Week network that also included Molly McMillin, editor-in-chief of The Weekly of Business Aviation, and Michael Bruno, senior business editor for the Aviation Week Network.
Textron (TXT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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Scott Donnelly became the CEO of Textron Inc. (NYSE:TXT) in 2009. This report will, first, examine the CEO...
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The creators of SimCity had a division that made Sim games for corporations. They were never released to the public. For the first time ever, this is the story of Maxis Business Simulations.
Textron Aviation Inc. today announced the successful first flight of its new twin utility turboprop, the Cessna SkyCourier.
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Apple offers full iPhone data backup using iCloud. It lets you backup photos, videos, apps data, iCloud Keychain, Reminders, Contacts, and more across all your Apple devices. While you can selectively choose the items to backup on iCloud, the same doesn’t app…
The team behind the ransomware, first spotted in late 2014 and typically targeting Russian victims, apologized to victims in a post on GitHub.
Textron's (TXT) Bell segment is likely to have witnessed strong demand in the commercial business in the first quarter of 2020.
The company seems unlikely to rebound any time soon.
The Board of Directors of Textron Inc. (NYSE:TXT) today declared a quarterly dividend of $0.02 per share on the company’s Common Stock.