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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) 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.
Textron reported Q3 2021 income from continuing operations of $0.82 per share, with adjusted EPS at $0.85, up from $0.53 in Q3 2020. The aviation backlog increased to $3.5 billion, reflecting strong market recovery. Cash flow from operating activities totaled $333 million, while share repurchases reached $299 million this quarter. The full-year adjusted EPS outlook was raised to $3.20-$3.30, and cash flow guidance increased to $1-$1.1 billion. Textron Aviation's revenues grew 49%, with 49 jets delivered. However, Bell and Industrial segments reported declines.
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 January 1, 2022 to shareholders on record as of the close of business on December 10, 2021.
Textron, a multi-industry company, operates globally across aircraft, defense, industrial, and finance sectors, delivering innovative solutions through renowned brands such as Bell, Cessna, and Jacobsen.
During the NBAA-BACE event in Las Vegas, Textron Aviation announced that Thrive Aviation has ordered three additional Cessna Citation Longitude jets, expanding their fleet to 15 aircraft. Deliveries are set to start in December 2021. The Citation Longitude is noted for its low operating costs and high performance, with a range of 3,500 nautical miles and advanced cabin technology. Thrive Aviation's CEO expressed confidence in meeting growing demand in the private aviation sector, highlighting a successful collaboration with Textron Aviation.
Textron Aviation has announced the launch of the next generation Cessna Citation M2 Gen2 and Citation XLS Gen2 business jets, enhancing comfort and productivity for passengers and pilots. Unveiled at the NBAA-BACE, these aircraft incorporate advanced technology and design features influenced by customer feedback. Orders are now open, with deliveries expected in early to mid-2022. The M2 Gen2 boasts improved cabin amenities and productivity tech, while the XLS Gen2 focuses on passenger comfort with modern design and a state-of-the-art cabin management system.
Textron Inc. (NYSE: TXT) is set to release its third quarter 2021 financial results on October 28, 2021. A conference call to discuss the results and outlook will take place at 8:00 a.m. (Eastern) the same day, accessible via webcast or by phone. The call will also be recorded for later playback starting at 11:00 a.m. Textron is recognized for its diverse portfolio, including renowned brands like Bell and Cessna, and operates across various sectors such as defense, industrial, and finance.
Textron Aviation has reached a significant milestone with its Beechcraft King Air 360/360ER and King Air 260 models, receiving European Aviation Safety Agency (EASA) type certification. Deliveries to customers in Europe will commence, building on the King Air's longstanding reputation in the region, where over 460 units are in operation. The King Air 360 boasts a maximum range of 3,345 km, while the King Air 260 offers 3,185 km. Both models incorporate advanced technologies for enhanced pilot support and passenger comfort.
Textron reported a strong second quarter 2021, achieving income from continuing operations of $0.81 per share, up from $0.13 per share in 2020. Cash flow from operations reached $572 million, significantly higher than last year's $245 million. The company anticipates 2021 EPS between $2.97 and $3.21, reflecting optimism in business aviation and ongoing investments in new technologies. Segment performance highlighted Textron Aviation with revenues of $1.2 billion, up $414 million year-over-year, while Industrial revenues rose to $794 million, an increase of $232 million.
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