Key facts
- Textron's total revenue rose 7% to $3.83 billion in the second quarter.
- The company's quarterly adjusted profit was $1.62 per share.
- Bell segment revenue increased 6% year-over-year.
- The aviation segment saw a 1% revenue increase.
- Textron Systems segment revenue rose 7% year-over-year.
- The company reiterated its full-year adjusted profit forecast.
Textron surpassed second-quarter profit and revenue expectations, driven by increased aircraft pricing and robust performance in its Bell helicopter division. The company's Bell unit is benefiting from the U.S. Army's designation of the Bell V-280 Valor as the MV-75 future long-range assault aircraft, alongside growth in commercial helicopter sales and services.
The Bell segment reported a 6% year-over-year revenue increase. The larger aviation segment, which produces Cessna business jets and Beechcraft aircraft, saw a 1% revenue rise, supported by steady aftermarket demand and higher pricing that compensated for fewer jet deliveries.
Textron's Textron Systems segment experienced a 7% revenue increase, while the industrial segment posted a 1% rise. Overall, Textron's total revenue climbed 7% to $3.83 billion, exceeding the analyst consensus of $3.8 billion. Adjusted profit came in at $1.62 per share, surpassing the estimated $1.55 per share.
The company reaffirmed its full-year adjusted profit forecast, projecting earnings between $6.40 and $6.60 per share, which aligns with analyst expectations of $6.52 per share.