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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.
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.
Textron reported a strong performance for Q4 2022, with EPS from continuing operations at $1.07, up from $0.93 in Q4 2021. Full-year EPS also rose to $4.01 from $3.30. The manufacturing group generated net cash of $1.5 billion for the year, with forecasts for 2023 EPS between $4.40 and $4.60. Key segments showed mixed results; Textron Aviation grew revenues to $1.6 billion, while Bell revenues declined to $816 million. Textron's backlog reached $6.4 billion in Aviation and $4.8 billion in Bell. The 2023 outlook suggests continued revenue growth and operating margin expansion.
Textron Inc. (NYSE: TXT) has appointed Lisa Atherton as the new chief operating officer of the Bell segment, taking over from her role as president & CEO of Textron Systems. Tom Hammoor will succeed Atherton as president & CEO of Textron Systems. Atherton has been with Textron since 2007, while Hammoor brings over 38 years of defense industry experience. Textron's chairman & CEO, Scott C. Donnelly, praised both leaders for their expertise and leadership as the company focuses on the U.S. Army's Future Long-Range Assault Aircraft program.
Textron Aviation has delivered its 3,000th Cessna Grand Caravan EX to Azul Conecta, a subsidiary of Azul Airlines, marking a significant milestone in the aircraft's history. The Cessna Caravan is recognized as the world's most popular utility turboprop, largely due to its versatility and reliability. With this delivery, Azul Conecta strengthens its commitment to connecting remote locations across Brazil, enhancing travel to 158 destinations. Textron Aviation's history of innovation in aircraft design continues to support diverse customer needs, including government, medical, and humanitarian operations.
Kautex Textron, a subsidiary of Textron Inc. (NYSE: TXT), showcased its customized Pentatonic Battery System at CES 2023, part of Stellantis’ RAM Revolution exhibition. This innovative battery system, made from thermoplastic or composite metal, offers advantages such as up to 60% weight reduction and a 40% decrease in CO2 footprint. It has received numerous accolades, including the Enabler Technology Award. The recent testing of the system confirms compliance with international safety standards.
Textron Inc. (NYSE: TXT) will release its fourth quarter 2022 financial results on January 25, 2023, followed by a conference call at 8:00 a.m. Eastern to discuss the results and future outlook. Investors can access the call via webcast or by phone, with a playback option available after 11:00 a.m. Eastern on the same day. Textron operates across various industries, including aircraft and defense, and is known for its brands like Bell and Cessna. For further details, visit www.textron.com.
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