- Textron (TXT +5.5%) shares have turned around after seemingly headed for losses after the aircraft manufacturer reported in-line Q4 earnings and predicted FY 2014 earnings would come in below forecasts.
- TXT sees 2014 EPS of $2.00-$2.20 vs. $2.20 consensus, and sees revenue of ~$13.2B vs. $13.23B consensus; cash flow from continuing operations of the manufacturing group before pension contributions is estimated at $600M-$700M.
- While noting the lackluster guidance, RBC analyst Robert Stallard notes that the state of the market for Cessna also would be in focus, and that prediction proved accurate.
- Management made positive comments about the current state of the business-jet market, and any pick up there could have a huge impact, Stallard says; “if this market recovers, there is a lot of potential (thinking 2015 and beyond).”
Textron turns around despite guidance, focus shifts to strength in business jets
Jan 22 2014, 14:41 ET