Textron (NYSE:TXT) is expected to report Q1 earnings before market open Thursday, with a conference call scheduled for 9:00 am ET.
Analysts are looking for an EPS of 83c on revenue of $3.44B. The consensus range is 79c to 88c for EPS, and revenue of $3.36B to $3.52B, according to First Call. On April 11, Textron announced that it expects Q1 EPS to exceed its previous estimates of 75c to 85c vs. consensus of 83c. The company said that strong performance in other businesses is more than offsetting slightly weaker than forecasted earnings at its Finance segment. The company also expects to meet or exceed its previously forecasted FY08 EPS target of $3.75 to $3.95 vs. consensus of $3.93.
Citigroup maintained its Buy rating for Textron on March 26, pointing out that the company has a booked backlog of $18.8B, which they believe provides "excellent" visibility through the end of 2009 and beyond.
Gabelli also maintained its Buy rating for Textron. On April 14, the firm stated that after the company announced that it would exceed its previous Q1 EPS guidance of 75c-85c, it predicts that the company will be able to offset weakness in its industrial and finance businesses in its 2008 with strong performances from its Cessna and Bell units. Gabelli also predicted the company will report FY08 EPS of $3.86.