Textron -9% after missing estimates

|About: Textron Inc (TXT)|By:, SA News Editor

Adjusted income from continuing operations of $0.61 per share vs. $0.65 per share a year earlier.

Sales by segment: Aviation -2%; Bell -5%; Textron Systems -23%; Industrial -10% (largely related to the disposition of the Tools & Test product line).

Textron Aviation delivered 41 jets, flat with last year, and 43 commercial turboprops, down from 57 last year.

Net cash provided by operating activities of continuing operations of the manufacturing group for Q3 totaled $319M, compared to $79M a year ago.

The company also returned $468M to shareholders through share repurchases, compared to $122M a year earlier.

Outlook for 2018: Full-year adjusted EPS guidance narrowed to $3.20-$3.30 per share. Full-year cash flow guidance reaffirmed at $750M- $850M.

TXT -9.2% premarket

Q3 results

Subscribe for full text news in your inbox