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Textron (TXT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
TXT's unit secures a $37.7 million contract from the U.S. Army to supply the Bell 412 EPX helicopter.
Textron's Q2 revenue grew by 3%, but missed estimates, while EPS beat expectations due to share repurchases, despite a decline in net income. Aviation and Bell segments showed strong performance, but the Industrial segment's decline significantly offset overall gains, raising concerns about its impact on the business. Significant backlogs in Aviation, Bell, and Systems present opportunities, but supply chain inefficiencies and a potential strike pose risks.
PROVIDENCE, R.I.--(BUSINESS WIRE)--Textron Inc. (NYSE: TXT) will release its third quarter 2024 financial results on Thursday morning, October 24, 2024. Textron will also host a conference call at 8:00 a.m. (Eastern) to discuss the results and the company's outlook. The call will be available via webcast at www.textron.com or by direct dial at (844) 867-6169 in the U.S. or (409) 207-6975 outside of the U.S.; Access Code: 3144750. In addition, the call will be recorded and available for playback.
Textron's Aviation and Bell segments achieved decent revenue growth, up by 10% and 13% YoY, respectively, despite ongoing supply chain delays. Nonetheless, revenue in the industrial segment fell by 11%, with profit dropping nearly 47% YoY in this segment. Weak demand in automotive and consumer goods is likely to persist. Key risks include reliance on US government contracts and ongoing development costs in the eAviation segment.
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Steve Weiss, founder and managing partner at Short Hills Capital Partners, joins CNBC's 'Halftime Report' to explain why he sold Textron.