Welcome to our dedicated page for Textron news (Ticker: TXT), a resource for investors and traders seeking the latest updates and insights on Textron stock.
Textron Inc. reports developments across an aerospace, defense and industrial portfolio that includes Textron Aviation, Bell, Textron Systems and Textron Industrial. Company news commonly covers Cessna, Beechcraft and Hawker aircraft support; Citation business jet deliveries and fleet orders; Bell helicopter, tilt-rotor and autonomous-aircraft work; and defense programs involving uncrewed aircraft, armored vehicles, simulators and training.
Recurring updates also address factory-direct service centers, aftermarket aircraft upgrades, international certifications, quarterly segment results, dividends and capital-structure actions. Industrial coverage includes Kautex plastic fuel tanks for conventional and hybrid vehicles and specialized vehicle businesses such as golf carts and all-terrain vehicles.
Textron Aviation announced a two-aircraft purchase agreement with AIR Marshall Islands Inc. (AMI) for its Cessna SkyCourier twin-engine turboprop. The passenger variant aircraft will support travel throughout the Marshall Islands communities. AMI, a government-owned commercial airline based in Majuro, will use the SkyCouriers to modernize its fleet and enhance regional connectivity. The aircraft features single-pilot operation capability, significant payload capacity, and adaptable configurations for various missions including air freight, passenger transport, and special missions.
Textron Aviation has delivered the first of two Beechcraft King Air 360CHW aircraft to the Peruvian Air Force. The aircraft is equipped for aeromedical evacuation (MEDEVAC) and can perform multiple missions including troop and cargo transport, and command and control operations. The versatile King Air is designed to operate in diverse, austere, and remote locations across Peru's varied terrain. The second aircraft delivery is expected in 2025. The King Air 360CHW features cargo door equipment and heavy weight operation capabilities, making it suitable for various special mission operations including air ambulance, ISR, utility transport, and aerial survey.
TRU Simulation + Training, a Textron Inc. (NYSE: TXT) company, has achieved Level D certification from Australia's Civil Aviation Safety Authority for a Full-Flight Simulator delivered to the Royal Flying Doctor Service Queensland Section. The simulator, first of its kind in Australia, supports training for Beechcraft King Air B200 and B300 aircraft. Located in a new facility near RFDS Bundaberg base, it features Collins Aerospace's Pro Line Fusion avionics, TRU's REALFeel control loading system, and REALCue electric motion base with 60-inch-stroke actuators. The simulator includes high-definition projectors on a 200x40 degree display and supports all four King Air variants.
Textron (TXT) reported Q3 2024 earnings with EPS of $1.18 and adjusted EPS of $1.40, down from $1.49 in the prior year. The company's performance was significantly impacted by an IAM strike at Textron Aviation, which has since been resolved with a new five-year contract. Net cash from operating activities was $208 million, and the company returned $215 million to shareholders through share repurchases. Due to the strike's impact, Textron lowered its 2024 adjusted EPS guidance to $5.40-$5.60 from $6.20-$6.40, and reduced manufacturing cash flow guidance to $650-$750 million from $0.9-$1.0 billion.
Textron Inc. (NYSE:TXT) has announced significant leadership changes in its financial team. Frank T. Connor, executive vice president and chief financial officer, will retire on February 28, 2025. David Rosenberg, currently vice president of Investor Relations, will succeed Connor as CFO effective March 1, 2025. Rosenberg brings over 24 years of aviation industry experience, including serving as CFO of Textron Aviation and leading the successful merger of Beechcraft and Cessna Aircraft. Additionally, Scott Hegstrom, current vice president of Strategy and Mergers & Acquisitions, will assume the role of vice president of Investor Relations.
Textron (NYSE:TXT) has announced its quarterly dividend declaration. The company's Board of Directors has approved a dividend payment of $0.02 per share on its Common Stock. The dividend will be paid on January 1, 2025, to shareholders who are registered as holders of record at the close of business on December 13, 2024.
Textron Aviation announced that the Cessna Citation Ascend, expected to enter service in 2025, will be equipped with the latest enhancements to the Garmin G5000 avionics suite. The Ascend program has accumulated nearly 600 flight hours through more than 200 flights with two test articles. The aircraft will feature advanced technologies including Synthetic Vision Guidance System (SVGS), expanded Synthetic Vision Technology (SVT) capabilities, enhanced traffic awareness, and advanced connectivity options. These enhancements aim to reduce pilot workload, improve situational awareness, and provide a superior aviation experience for customers in the midsize business jet market.
Textron Aviation has announced a new high-speed internet connectivity solution for Beechcraft King Air B200/300 and Cessna Citation 560XL series aircraft. This follows the FAA's issuance of AeroMech's Supplemental Type Certificate (STC) for Starlink high-speed internet connectivity. The system utilizes Starlink's Low Earth Orbit (LEO) satellite constellation, providing more reliable connectivity over land, water, and remote areas.
Brian Rohloff, senior vice president of Customer Support, emphasized the importance of in-flight connectivity for customers using their aircraft as mobile offices. The upgrade can be scheduled for installation at North American Textron Aviation Service Centers and select International Service Centers. AeroMech's STC uses Starlink's 'standalone system,' consisting of an antenna, power supply, and router, requiring only power input from the aircraft.
Gogo Business Aviation announced that Textron Aviation will install Gogo's global Low-Earth-Orbit (LEO) solution, Gogo Galileo HDX, as a factory option for the Cessna Citation Longitude, Citation Latitude and Citation Ascend business jets. Textron Aviation is the first business aviation OEM to offer Gogo Galileo HDX from the factory, providing a global connectivity solution with market-leading performance for its operators.
Gogo Galileo is built on Gogo's AVANCE platform with a fuselage-mounted HDX antenna, designed to be small enough for business jets. The system is more affordable and easier to install and operate than other satellite systems. Gogo Galileo HDX is expected to launch commercially in the fourth quarter of 2024, with Textron Aviation's integration of the HDX antenna in progress for all three Citations.
Textron Aviation has announced the selection of Gogo Business Aviation's global Low-Earth-Orbit (LEO) solution, Gogo Galileo HDX, for factory installation on the Cessna Citation Longitude, Latitude and Ascend. This makes Textron Aviation the first business aviation OEM to offer Gogo Galileo HDX as an option on new customer aircraft.
The system, built on Gogo's AVANCE platform, features a fuselage-mounted HDX antenna designed for business jets, making it more affordable and easier to install than other satellite systems. Gogo Galileo HDX is expected to be available on the Citation Longitude beginning early 2026, with timing for other aircraft to be announced later.