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Textron Inc (TXT)

- NYSE
  • May. 1, 2014, 7:39 AM
    • Textron (TXT) net profit $85M vs $119M.
    • Acquisition and restructuring costs $16M.
    • Beechcraft contributes $101M to revenues.
    • Segment profit -$16M to $219M.
    • Revenue breakdown: Textron Aviation $785M vs $708M a year earlier; Bell $873M vs $949M; Textron Systems$363M vs $429M; Industrial $797M vs $727M.
    • FY Guidance: Beechcraft restructuring costs $35M, acquisition expenses $11M, to reduce 2014 results by $0.08 per share. On this basis, Textron expects EPS from continuing operations of $1.92-2.12. Cash flow from continuing operations of the manufacturing group before pension contributions seen at $600-700M.
    • Shares +0.6%. (PR)
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  • May. 1, 2014, 6:42 AM
    • Textron (TXT): Q1 EPS of $0.31 misses by $0.09.
    • Revenue of $2.85B (-0.3% Y/Y) misses by $170M.
    • Press Release
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  • Apr. 23, 2014, 2:13 PM
    • A month after buying Beechcraft, Textron (TXT +0.2%) announces 750 job cuts at that company and at its Cessna aircraft division.
    • TXT had said it hadn't made a decision about layoffs following the Beechcraft acquisition, but it acknowledged restructuring and other moves were possible.
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  • Apr. 23, 2014, 9:52 AM
    • Textron Inc (TXT) declares $0.02/share quarterly dividend, in line with previous.
    • Forward yield 0.20%
    • Payable July 1; for shareholders of record June 13; ex-div June 11.
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  • Feb. 26, 2014, 1:58 PM
    • Textron Inc (TXT) declares $0.02/share quarterly dividend, in line with previous.
    • Forward yield 0.20%
    • Payable April 1; for shareholders of record March 14; ex-div March 12.
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  • Jan. 22, 2014, 2:41 PM
    • 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).”
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  • Jan. 22, 2014, 8:48 AM
    • Textron (TXT -3.5%) net profit rises to $167M from $148M a year earlier.
    • Cessna revenue +2.4%, delivered 62 new Citation jets vs 53 a year ago. Profit +43% to $33M.
    • Bell revenue +20%, profit +0.6% to $178M.
    • Textron Systems revenue -28%, due to lower volumes, industrial revenue +9.5%.
    • Expects 2014 EPS from continuing operations of $2.00-2.20 vs consensus of $2.23, and revenue growth of 9% to $13.2B vs $13.11B. (PR)
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  • Jan. 22, 2014, 6:31 AM
    • Textron Inc (TXT): Q4 EPS of $0.60 beats by $0.01.
    • Revenue of $3.5B (+2.9% Y/Y)
    • Press Release
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  • Jan. 22, 2014, 12:05 AM
  • Jan. 21, 2014, 5:30 PM
  • Jan. 3, 2014, 5:41 PM
    • Top gainers, as of 5:15 p.m.: FNF +6.3%. RNA +3.7%. SNTA +3.6%. GV +3.2%. CACQ +2.8%.
    • Top losers, as of 5:15 p.m.: MCHX -10.3%. HZNP -3.2%. SMI -1.8%. TXT -1.8%. JBL -1.1%.
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  • Dec. 27, 2013, 2:57 AM
    • Textron (TXT) has agreed to acquire Beechcraft for $1.4B in a deal that will add the latter's small propeller-driven aircraft to a Textron portfolio that includes Cessna aircraft and Bell helicopters.
    • "Terrific product fit," wrote analyst Cai von Rumohr prior to the announcement of the deal. Textron's "Cessna and Beechcraft have complementary product lines, with Cessna focused on bizjets and Beech on turboprops, pistons."
    • The deal will also enable Textron to offer more affordable defense products at a time of budget cuts across the globe - one of Beechcraft's main products is the AT-6 trainer.
    • Textron intends to finance the deal through cash on hand and as much as $1.1B in new debt.
    • The acquisition comes after Beechcraft exited bankruptcy protection in February, having filed for Chapter 11 in May 2012. (PR)
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  • Dec. 20, 2013, 1:25 PM
    • Textron (TXT +2.9%) will buy Beechcraft for $1.4B, FT reports.
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  • Oct. 23, 2013, 10:33 AM
    • Textron Inc (TXT) declares $0.02/share quarterly dividend, in line with previous.
    • Forward yield 0.28%
    • Payable Jan 1; for shareholders of record Dec. 13; ex-div Dec. 11.
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  • Oct. 18, 2013, 10:35 AM
    • Shares of Textron (TXT +2.1%) erase opening losses to trade notably higher.
    • The company turned in a not-so-inspiring quarter Friday morning.
    • Y/Y revenue growth was negative during Q3 and income from continuing operations dropped 27%.
    • One problem area was Cessna. Segment revenues dropped $185M and deliveries fell 39% from Q3 2012, reflecting a "soft" light-to-midsize jet market.
    • Outlook: FY13 EPS now seen at $1.75-1.85 versus previous guidance of $1.90-2.10 reflecting "lower margins at Bell due to manufacturing inefficiencies associated with the labor disruptions resulting from negotiations with bargained employees and implementation of a new enterprise resource planning system, and lower aircraft deliveries at Cessna." (PR)
    • CC webcast
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  • Oct. 18, 2013, 6:35 AM
    • Textron (TXT): Q3 EPS of $0.35 misses by $0.13.
    • Revenue of $2.87B misses by $0.11B. (PR)
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Company Description
Textron Inc. is a multi-industry company that is engaged in aircraft, defense, industrial and finance businesses to provide its customers products and services. Its business segments include Cessna, Bell, Textron Systems, Industrial and Finance.
Country: United States