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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.
E-Z-GO will provide eight customized RXV ELiTE golf cars for Capital One's The Match on July 6, 2021. The event features Phil Mickelson, Tom Brady, Bryson DeChambeau, and Aaron Rodgers, taking place at Moonlight Basin in Big Sky, Montana. Proceeds from the auction of the golf cars will support charities, including Feeding America. E-Z-GO, a Textron company, highlights its commitment to sustainable technology with the ELiTE series, which features lithium battery technology and an 8-year warranty.
Peyton Manning has joined Textron Aviation as the honorary chair for the 2022 Special Olympics Airlift, encouraging aircraft owners to participate in transporting over 4,000 athletes and coaches to Orlando, Florida. The Airlift, set for June 4-12, 2022, aims to recruit over 200 aircraft owners to donate their aircraft and services. Since its inception in 1987, the Airlift has transported nearly 10,000 athletes and coaches. Textron Aviation's support demonstrates its commitment to the Special Olympics and fostering community engagement.
Textron reported a first quarter 2021 net income of $0.75 per share, with adjusted net income at $0.70, up from $0.35 a year ago. Revenues increased due to higher volumes in Industrial and Bell, alongside solid margins. Cash flow from operations was $107 million, a significant improvement from a $393 million outflow the previous year. Textron forecasts 2021 EPS between $2.76 and $3.00, raising its outlook by $0.10. Segment performances show a mixed bag, with Textron Aviation reporting lower revenues but improved profits, while Bell faced challenges with military revenues.
The Board of Directors of Textron declared a quarterly dividend of $0.02 per share on its Common Stock. This dividend will be paid on July 1, 2021, to shareholders on record as of the close of business on June 11, 2021. Textron operates across multiple industries, leveraging its global network to deliver innovative solutions through renowned brands such as Bell, Cessna, and Beechcraft.
Wheels Up has partnered with Bell Textron (NYSE: TXT) to innovate in vertical take-off and landing (VTOL) solutions for intra-urban travel. The initiative aims to enhance convenience and reduce congestion, while also exploring ways to lessen environmental impact. High-demand markets are being evaluated with a service launch expected in 2021. This collaboration leverages Bell's extensive experience in aircraft manufacturing and introduces VTOL as an additional travel option for Wheels Up and Delta Air Lines customers.
Textron Inc. (NYSE: TXT) is set to release its first quarter 2021 financial results on April 29, 2021. A conference call will be held at 8:00 a.m. Eastern to discuss the results and company outlook, with a webcast available at www.textron.com. The call can also be accessed by phone at (844) 721-7241 in the U.S. or (409) 207-6955 internationally, using Access Code 4252363. A recorded playback will be available from 11:00 a.m. Eastern the same day by dialing (402) 970-0847 with Access Code 9928221.
Textron Aviation has launched the eighth Special Olympics Airlift (SOA) to transport over 4,000 athletes and coaches to the 2022 Special Olympics USA Games in Orlando, Florida. The company aims to recruit 228 aircraft owners by February 28, 2022, to assist with the airlift, which showcases Textron's commitment to community support. Since 1987, nearly 10,000 individuals have been transported via this initiative. The event highlights the importance of aviation experiences for many athletes, some of whom may travel by air for the first time.
The Board of Directors of Textron declared a quarterly dividend of $0.02 per share on its Common Stock, strengthening commitment to shareholders. Payment will occur on April 1, 2021, for holders of record as of March 12, 2021. This dividend declaration reflects Textron's overall strategy to provide returns to investors while maintaining growth across its diverse operations in aircraft, defense, and industrial sectors.
Textron Aviation delivered nearly 560 aircraft in 2020, leading the General Aviation Manufacturers Association's annual report. The company accounted for over 25% of all general aviation deliveries, ranking as the world's third-largest jet manufacturer behind Boeing and Airbus. Notably, Textron surpassed Boeing in turbine fixed-wing deliveries, achieving 251 compared to Boeing's 210. The Cessna Citation Latitude was the most delivered midsize jet for the fifth year in a row, and the Cessna Skyhawk remained the best-selling single-engine piston aircraft.
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