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. (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 will be paid on April 1, 2022, to shareholders on record as of the close of business on March 11, 2022. Textron operates in multiple industries, providing innovative solutions across its brands, including Bell and Cessna.
Textron Aviation delivered its 8,000th Cessna Citation jet, a Citation Longitude, to Scotts Miracle-Gro, marking a significant milestone in the aviation industry. This delivery reinforces the Citation family’s position as the most popular line of business jets globally. With over 41 million flight hours logged, Citation jets are known for their reliability, efficiency, and comfort. The Citation series has been a leader in annual business jet deliveries for four decades, showcasing advanced technology and performance across its range of models.
Textron Aviation has announced the return of the Cessna Turbo Skylane T182T to its lineup, featuring the latest avionics and interior upgrades. The aircraft is equipped with a turbocharged engine, enhancing performance for operations at high altitudes. Orders are now being taken, with deliveries starting in early 2023. The Turbo Skylane boasts a range of 971 miles, a certified ceiling of 20,000 feet, and maximum speeds of 165 knots. Textron Aviation aims to meet customer demand for higher power and improved capabilities with this model.
Textron Aviation announced the rollout of the first production unit of the Cessna SkyCourier, a new twin-engine turboprop aircraft, at its Wichita facility. This aircraft, designed with state-of-the-art manufacturing techniques, is tailored for air freight, passenger transport, and special missions. Featuring a maximum payload of 6,000 pounds and a range of 900 nautical miles, the SkyCourier will be delivered to launch customer FedEx Express, which has ordered up to 100 units. Certification is expected in the first half of 2022, enhancing Textron's aviation portfolio.
Textron reported a fourth quarter EPS from continuing operations of $0.93 and an adjusted EPS of $0.94, down from $1.06 in Q4 2020. The full year EPS was $3.30, up from $2.07 in 2020. Net cash from operating activities for 2021 reached $1.5 billion. The company expects 2022 revenues around $13.3 billion and an EPS forecast of $3.80 to $4.00. Textron's backlog at the end of Q4 was $4.1 billion in Aviation, with share repurchases totaling $921 million for the year.
Textron Inc. (NYSE: TXT) has appointed Shannon Hines as senior vice president for Government Affairs & Washington Operations, effective February 22. Hines brings extensive legislative experience, having served as Republican staff director for the Senate Appropriations Committee. She will lead Textron's government affairs, engaging with federal agencies and industry associations. Hines is expected to advance Textron's military programs, leveraging her strong relationships in Washington. This strategic appointment aims to bolster Textron's advocacy efforts.
Rollick and E-Z-GO, a Textron Specialized Vehicles business, announce a partnership to enhance online purchasing experiences for consumers interested in E-Z-GO vehicles. Utilizing Rollick's digital engagement module, customers can now complete transactions online, view available incentives, prequalify for financing, and reserve units. This initiative responds to shifting consumer preferences as 65% of different generations increasingly rely on technology for shopping. E-Z-GO aims to provide a seamless, personalized online shopping experience, in line with current digital engagement trends.
Textron Inc. (NYSE: TXT) is set to release its fourth quarter 2021 financial results on January 27, 2022. This announcement coincides with the conclusion of its fiscal year on January 1, 2022. Following the results, Textron will host a conference call at 8:00 a.m. Eastern to discuss its financial outcomes and future outlook. Interested parties can join via webcast or by phone. A recorded playback will be available post-call starting at 11:00 a.m. Eastern.
Textron Aviation announced the successful first flight of its new single-engine turboprop, the Beechcraft Denali, from Eisenhower International Airport in Wichita. Piloted by senior test pilots, the flight lasted 2 hours and 50 minutes, reaching an altitude of 15,600 feet and speeds of 180 knots. The Denali aims for certification in 2023 and is powered by GE Aviation's Catalyst engine, which is 20% more fuel-efficient than older models. The aircraft features class-leading cabin space and advanced avionics, marking a significant milestone for Textron and its aviation segment.
Textron Aviation Defense has secured a $143 million contract with the Royal Thai Air Force for eight Beechcraft AT-6 Wolverine aircraft and related equipment, marking Thailand as the first international customer for this U.S. light attack aircraft. The contract supports the Royal Thai Air Force's modernization efforts and aims to enhance capabilities in border security and anti-smuggling operations. Training for RTAF personnel is set to begin in 2023 and 2024, with the aircraft joining the fleet in 2024.
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