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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 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.
Textron reported Q4 2020 net income of $1.03 per share, with adjusted net income at $1.06, down from $1.11 in Q4 2019. Full-year 2020 adjusted net income was $2.07 per share, a decrease from $3.74 in 2019. The company returned $129 million to shareholders through share repurchases. For 2021, Textron forecasts revenues of $12.5 billion and GAAP earnings per share between $2.64 to $2.88. Segment results showed declines in revenues across Aviation, Bell, and Industrial due to lower volumes, while backlog remains strong with $1.6 billion in Aviation, $5.3 billion in Bell, and $2.6 billion in Systems.
Textron Inc. (NYSE: TXT) will announce its fourth quarter 2020 financial results on January 27, 2021. The fiscal year ended on January 2, 2021. Following the release, Textron will host a conference call at 8:00 a.m. (Eastern) to discuss the results and provide an outlook. The call will be accessible via webcast or by phone, with a recording available later in the day. Textron is a multi-industry company known for brands like Bell and Cessna, focusing on innovative solutions across various sectors.
Textron Aviation has unveiled the Beechcraft King Air 260, enhancing the legendary 200 series turboprop. Key upgrades include the IS&S ThrustSense Autothrottle, a new digital pressurization controller, and the Collins Aerospace Multi-Scan weather radar, aimed at easing pilot workloads. Production has commenced, with certification and deliveries slated for early 2021. This follows the King Air 360's FAA certification achieved in October. Textron emphasizes customer feedback in these advancements, reinforcing its commitment to innovation in aviation.
Textron Inc. (NYSE: TXT) has announced a definitive agreement to sell its non-U.S. businesses under TRU Simulation + Training Inc. to CAE Inc. for US$40 million. The transaction includes the sale of TRU Simulation + Training Canada, operations in France and Malaysia, and a minority interest in Iceland. It is subject to regulatory approvals and is expected to close in late 2020 or early 2021. The sale does not affect Textron's Florida operations that focus on simulators for aviation and rotorcraft.
Textron Inc. (NYSE:TXT) has dismissed a purported tender offer from Xcalibur Aerospace Ltd. as fictitious and in violation of U.S. securities laws. The company has previously received similar unsolicited offers from Xcalibur, which failed to provide necessary financial details. Textron has notified relevant authorities about this recent offer and urges investors to rely only on properly filed materials with the SEC. Until a valid offer is presented, Textron will not make further comments regarding the matter.
Textron reported third quarter 2020 net income of $0.50 per share, down from $0.95 in Q3 2019. Adjusted net income was $0.53 per share, excluding $7 million of restructuring charges. Textron Aviation revenues fell to $795 million, with a segment loss of $29 million, primarily due to lower jet and turboprop volumes affected by the pandemic. However, Bell's revenues rose to $793 million, supported by military demand. Overall, cash flow from manufacturing operations increased to $368 million, reflecting strong execution amid challenges.
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 January 1, 2021, to shareholders on record as of December 11, 2020.
Textron is a multi-industry company renowned for its global brands, including Bell, Cessna, and Beechcraft, offering innovative solutions across aircraft, defense, industrial, and finance sectors.
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