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Textron Inc. (NYSE: TXT) is a multi-industry company leveraging its global network across various sectors, including aircraft, defense, industrial, and finance businesses, to provide innovative solutions and services. Known globally for its powerful brands, Textron encompasses names such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems.
Textron designs, manufactures, and services an array of specialty aircraft, including small jets, propeller-driven airplanes, helicopters, and tilt-rotor aircraft. The firm's aviation segment is renowned for producing and servicing Cessna and Beechcraft planes. Additionally, Bell Helicopter serves both commercial and military customers with its sophisticated helicopters and tilt-rotor aircraft.
In the defense sector, Textron Systems stands out for its production of uncrewed aircraft and armored vehicles, catering primarily to the military market. The company also excels in aircraft simulators and training for both commercial and military purposes. Furthermore, the industrial segment, featuring the Kautex business, manufactures plastic fuel tanks for conventional and hybrid motor vehicles, alongside subsidiaries that produce specialized vehicles such as golf carts, snowmobiles, and all-terrain vehicles.
One of Textron's most notable recent developments involves a collaboration with Kodiak Robotics, Inc., a leading self-driving technology developer. Together, they aim to create an autonomous military ground vehicle specifically designed for driverless operations. By integrating Kodiak's advanced autonomous system, the Kodiak Driver, into Textron Systems' uncrewed military vehicle prototype, this partnership signifies a major advancement in autonomous technology for military applications.
Textron Systems boasts over three decades of expertise in developing uncrewed land, air, and sea systems, making significant contributions to various military programs. This partnership with Kodiak is expected to bring cutting-edge AI-powered, autonomous technologies to military customers worldwide, enhancing the functionality, adaptability, and reliability of their technologies.
Textron's dedication to innovation and excellence is further evidenced by its continuous efforts in research and development, aiming to stay ahead in introducing new products and enhancing existing ones. The company's commitment to providing advanced solutions to support defense, aerospace, and other customer missions underscores its position as a leader in multiple industries.
For more detailed information and career opportunities, visit Textron's official website.
Textron Inc. (NYSE: TXT) reported a first-quarter 2023 net income of $0.92 per share, a rise from $0.88 per share in Q1 2022. Adjusted EPS increased to $1.05 from $0.97. The company generated $153 million from operating activities, down from $225 million last year. Revenue growth was noted in Aviation, Industrial, and Systems, while Bell revenues declined by $213 million to $621 million. Textron returned $377 million to shareholders through share repurchases. The Aviation segment saw revenues of $1.1 billion, up by $109 million, with a backlog of $6.5 billion. Textron Systems' revenue was $306 million with a backlog of $2.0 billion. The company held a conference call on April 27, 2023, to discuss its financial results and outlook.
The Board of Directors of Textron (NYSE:TXT) has announced a quarterly dividend of $0.02 per share on its Common Stock. This dividend will be paid on July 1, 2023, to shareholders of record by the close of business on June 9, 2023. Textron Inc. operates in multiple industries, leveraging its global network to offer innovative solutions across aircraft, defense, and industrial sectors. Known for brands like Bell and Cessna, Textron continues to maintain a strong market presence.
Textron Inc. (NYSE: TXT) has appointed Lisa Atherton as the new president and CEO of the Bell segment, effective April 28, 2023. Atherton has been a part of Textron for 16 years, previously serving as COO of Bell and holding leadership roles within Military Programs. She succeeds Mitch Snyder, who is retiring after leading Bell for over seven years.
Chairman & CEO Scott C. Donnelly praised Atherton’s leadership and team-building skills, expressing confidence in her ability to drive future growth at Bell. Under Snyder's leadership, Bell launched new technologies and expanded military and commercial programs.
Textron Inc. (NYSE: TXT) will release its first quarter 2023 financial results on April 27, 2023, at 8:00 a.m. Eastern. The company will host a conference call to discuss its results and future outlook, available via webcast or direct dial. A recorded playback will be accessible starting at 11:00 a.m. Eastern on the same day. Textron operates across multiple industries, offering solutions through renowned brands such as Bell and Cessna. For further details, visit their website.
The Board of Directors of Textron (NYSE:TXT) has declared a quarterly dividend of $0.02 per share on its Common Stock. This dividend is set to be paid on April 1, 2023, to shareholders of record as of March 10, 2023. Textron operates across multiple industries, leveraging a global network that includes brands such as Bell, Cessna, and E-Z-GO. This dividend reflects the company’s ongoing commitment to returning value to its shareholders.
Bell Textron Inc., a subsidiary of Textron Inc. (NYSE: TXT), announced the successful first flight of the Bell 505 helicopter, powered exclusively by 100% Sustainable Aviation Fuel (SAF). This achievement makes the Bell 505 the first single-engine helicopter to fly with 100% SAF. Bell partnered with Safran Helicopter Engines, Neste, GKN Aerospace, and Virent Inc. for this milestone, emphasizing its commitment to sustainability in aviation. The flight aligns with Textron's Achieve 2025 goals, aiming for a 20% reduction in greenhouse gas emissions.
Textron Aviation has secured the Multi-Engine Training System (METS) contract from Naval Air Systems Command (NAVAIR) following a competitive bidding process. The contract involves up to 64 Beechcraft King Air 260 aircraft, designated as T-54A, to modernize training for U.S. Navy, Marine Corps, and Coast Guard personnel. The initial award includes 10 aircraft, with additional options for up to 54 more. Deliveries are set between 2024 and 2026, enhancing the existing fleet of T-44C Pegasus aircraft, which have been in service since 1977. The METS platform will incorporate advanced technology, including virtual and augmented reality training tools.
Textron Aviation has announced the introduction of a gravel kit for its new twin-engine Cessna SkyCourier turboprop. This new feature allows for operations on unimproved runways worldwide, significantly enhancing the aircraft's versatility. The first deliveries of the SkyCourier with the gravel kit will commence later this month. The SkyCourier, certified by the FAA in March 2022, is designed for air freight and passenger transport with a 6,000-pound payload capacity. This kit aims to expand its use among various sectors, including government and humanitarian operations.
Kautex Textron has secured its first order for a thermoplastic composite underbody battery protection skid plate from an automotive OEM, marking its entry into the battery housing sector. The skid plate is part of Kautex's Pentatonic battery system, aimed at supporting the production of battery electric vehicles. This lightweight solution promises over a 50% weight reduction compared to steel and offers advantages like corrosion resistance, design flexibility, and enhanced serviceability. The Pentatonic system has won multiple awards and has undergone rigorous international testing to meet safety standards.
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