Textron Reports Second Quarter 2024 Results

Rhea-AI Summary

Textron Inc. (NYSE: TXT) reported strong Q2 2024 results, with EPS of $1.35 and adjusted EPS of $1.54, up from $1.46 in the prior year. The company generated $383 million in net cash from operating activities and returned $358 million to shareholders through share repurchases. Textron Aviation saw increased revenues of $1.5 billion, up $113 million from last year, while Bell's revenues rose to $794 million. The company's backlog remains robust, with Textron Aviation at $7.5 billion and Bell at $4.2 billion. Despite some challenges in the Industrial segment, Textron demonstrated overall growth and strong cash flow generation.

Positive

• Adjusted EPS increased to $1.54 from $1.46 year-over-year
• Net cash from operating activities rose to $383 million
• $358 million returned to shareholders through share repurchases
• Textron Aviation revenues up $113 million to $1.5 billion
• Bell revenues increased by $93 million to $794 million
• Strong backlog: Textron Aviation at $7.5 billion, Bell at $4.2 billion

Negative

• Industrial segment revenues down $112 million
• Industrial segment profit decreased by $37 million
• Textron eAviation segment loss increased to $18 million from $12 million year-over-year

Insights

Financial Analyst

Textron's second quarter 2024 earnings report shows a mixed but overall positive picture. The company posted an EPS of $1.35 and an adjusted EPS of $1.54, both up from last year. Adjusted EPS measures the company’s profitability excluding non-recurring costs, implying improved core business performance. This increase in EPS signals effective cost management and operational efficiency.

Net cash from operating activities significantly improved to $383 million, up from $314 million last year. This increase in cash flow highlights better working capital management and strong operational execution, which is essential for funding future growth initiatives or returning value to shareholders.

The share repurchases of $358 million is an investor-friendly move, suggesting the company believes its stock is undervalued and aims to return excess cash to shareholders. For long-term investors, such buybacks can lead to EPS growth due to a reduced number of outstanding shares.

However, a notable aspect is the decrease in the Industrial segment revenues by $112 million compared to the same quarter last year. This decline could raise concerns about the division’s market competitiveness or demand erosion and could be a point of vulnerability.

Overall, the positive trends in EPS and cash flow, combined with strategic share repurchases, reflect financial robustness. However, the decline in Industrial segment demands close monitoring.

Market Research Analyst

Textron's recent earnings report demonstrates a nuanced performance across its various segments. The Aviation segment showed resilience with revenues reaching $1.5 billion, up $113 million year-over-year. The segment's ability to adjust pricing and manage volume effectively contributed to this growth, indicating a strong market demand and pricing power.

The Bell segment also performed well, driven by increased military volume, particularly from the FLRAA program. This could be indicative of Textron's solid positioning within the defense sector, which often provides stable and long-term revenue streams as compared to commercial markets. However, the decrease in commercial helicopter deliveries to 32 from 35 may suggest a slight dip in commercial demand.

In contrast, the Industrial segment experienced a notable drop in revenue due to lower volume and mix, which is a concerning indicator of potential headwinds in this market. This decline could reflect either a competitive disadvantage or broader market weakness.

Investors should watch how these segments evolve, especially given the mixed performance. The overall growth in key segments like Aviation and Bell, despite some weaknesses, suggests balanced but cautious optimism.

• EPS of $1.35; adjusted EPS of $1.54, up from $1.46 in prior year
• Net cash from operating activities of $383 million in the second quarter of 2024
• $358 million returned to shareholders through share repurchases in the second quarter

PROVIDENCE, R.I.--(BUSINESS WIRE)-- Textron Inc. (NYSE: TXT) today reported second quarter 2024 income from continuing operations of $1.35 per share, as compared to $1.30 per share in the second quarter of 2023. Adjusted income from continuing operations, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, was $1.54 per share for the second quarter of 2024, compared to $1.46 per share in the second quarter of 2023.

"In the quarter, our team delivered higher revenue, earnings per share, and cash flow," said Textron Chairman and CEO Scott C. Donnelly. "At Aviation and Bell, we continued to execute on key programs, including the Citation Ascend and FLRAA."

Cash Flow

Net cash provided by operating activities of the manufacturing group for the second quarter was $383 million, compared to $314 million last year. Manufacturing cash flow before pension contributions, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, totaled $320 million for the second quarter, compared to $242 million last year.

In the quarter, Textron returned $358 million to shareholders through share repurchases. Year to date, Textron has returned $675 million to shareholders through share repurchases.

Second Quarter Segment Results

Textron Aviation

Textron Aviation’s revenues were $1.5 billion, up $113 million from last year's second quarter, reflecting higher pricing of $57 million and higher volume and mix of $56 million.

Textron Aviation delivered 42 jets in the quarter, down from 44 in the second quarter of 2023, and 44 commercial turboprops, up from 37 in last year's second quarter.

Segment profit was $195 million in the second quarter, up $24 million from a year ago, reflecting higher volume and mix of $35 million, and a favorable impact from pricing, net of inflation, of $22 million, partially offset by an unfavorable impact from performance of $33 million.

Textron Aviation backlog at the end of the second quarter was $7.5 billion.

Bell

Bell revenues were $794 million, up $93 million from the second quarter of 2023, largely reflecting higher military volume of $104 million, primarily related to the FLRAA program, partially offset by lower volume on the V-22 program.

Bell delivered 32 commercial helicopters in the quarter, down from 35 in last year's second quarter.

Segment profit of $82 million was up $17 million from last year's second quarter, largely due to a favorable impact from performance of $39 million, which included lower research and development costs, partially offset by mix.

Bell backlog at the end of the second quarter was $4.2 billion.

Textron Systems

Revenues at Textron Systems were $323 million, up $17 million from last year's second quarter, primarily due to higher volume of $14 million.

Segment profit of $35 million was down $2 million, compared with the second quarter of 2023.

Textron Systems’ backlog at the end of the second quarter was $1.7 billion.

Industrial

Industrial revenues were $914 million, down $112 million from last year's second quarter, mainly due to lower volume and mix of $119 million.

Segment profit of $42 million was down $37 million from the second quarter of 2023, primarily due to lower volume and mix.

Textron eAviation

Textron eAviation segment revenues were $9 million and segment loss was $18 million in the second quarter of 2024, compared with a segment loss of $12 million in the second quarter of 2023.

Finance

Finance segment revenues were $12 million, and profit was $7 million.

Conference Call Information

Textron will host its conference call today, July 18, 2024 at 8:00 a.m. (Eastern) to discuss its results and outlook. The call will be available via webcast at www.textron.com or by direct dial at (844) 867-6169 in the U.S. or (409) 207-6975 outside of the U.S.; Access Code: 8602005.

In addition, the call will be recorded and available for playback beginning at 11:00 a.m. (Eastern) on Thursday, July 18, 2024 by dialing (402) 970-0847; Access Code: 4306608.

A package containing key data that will be covered on today’s call can be found in the Investor Relations section of the company’s website at www.textron.com.

About Textron Inc.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Hawker, Pipistrel, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, and Textron Systems. For more information visit: www.textron.com.

Forward-looking Information

Certain statements in this release and other oral and written statements made by us from time to time are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which may describe strategies, goals, outlook or other non-historical matters, or project revenues, income, returns or other financial measures, often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “guidance,” “project,” “target,” “potential,” “will,” “should,” “could,” “likely” or “may” and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. In addition to those factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under “Risk Factors”, among the factors that could cause actual results to differ materially from past and projected future results are the following: Interruptions in the U.S. Government’s ability to fund its activities and/or pay its obligations; changing priorities or reductions in the U.S. Government defense budget, including those related to military operations in foreign countries; our ability to perform as anticipated and to control costs under contracts with the U.S. Government; the U.S. Government’s ability to unilaterally modify or terminate its contracts with us for the U.S. Government’s convenience or for our failure to perform, to change applicable procurement and accounting policies, or, under certain circumstances, to withhold payment or suspend or debar us as a contractor eligible to receive future contract awards; changes in foreign military funding priorities or budget constraints and determinations, or changes in government regulations or policies on the export and import of military and commercial products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; volatility in interest rates or foreign exchange rates and inflationary pressures; risks related to our international business, including establishing and maintaining facilities in locations around the world and relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business, including in emerging market countries; our Finance segment’s ability to maintain portfolio credit quality or to realize full value of receivables; performance issues with key suppliers or subcontractors; legislative or regulatory actions, both domestic and foreign, impacting our operations or demand for our products; our ability to control costs and successfully implement various cost-reduction activities; the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; pension plan assumptions and future contributions; demand softness or volatility in the markets in which we do business; cybersecurity threats, including the potential misappropriation of assets or sensitive information, corruption of data or, operational disruption; difficulty or unanticipated expenses in connection with integrating acquired businesses; the risk that acquisitions do not perform as planned, including, for example, the risk that acquired businesses will not achieve revenue and profit projections; the impact of changes in tax legislation; the risk of disruptions to our business and the business of our suppliers, customers and other business partners due to unexpected events, such as pandemics, natural disasters, acts of war, strikes, terrorism, social unrest or other societal or political conditions; and the ability of our businesses to hire and retain the highly skilled personnel necessary for our businesses to succeed.

TEXTRON INC. Revenues by Segment and Reconciliation of Segment Profit to Net Income (Dollars in millions, except per share amounts) (Unaudited)
	Three Months Ended											Six Months Ended
	June 29, 2024					July 1, 2023						June 29, 2024					July 1, 2023
REVENUES
MANUFACTURING:
Textron Aviation		$	1,475				$	1,362					$	2,663				$	2,511
Bell			794					701						1,521					1,322
Textron Systems			323					306						629					612
Industrial			914					1,026						1,806					1,958
Textron eAviation			9					11						16					15
			3,515					3,406						6,635					6,418
FINANCE			12					18						27					30
Total revenues		$	3,527				$	3,424					$	6,662				$	6,448
SEGMENT PROFIT
MANUFACTURING:
Textron Aviation		$	195				$	171					$	338				$	296
Bell			82					65						162					125
Textron Systems			35					37						73					71
Industrial			42					79						71					120
Textron eAviation			(18	)				(12	)					(36	)				(21	)
			336					340						608					591
FINANCE			7					12						25					20
Segment profit (a)			343					352						633					611
Corporate expenses and other, net			(17	)				(21	)					(79	)				(60	)
Interest expense, net for Manufacturing group			(20	)				(16	)					(35	)				(33	)
LIFO inventory provision			(27	)				(35	)					(47	)				(60	)
Intangible asset amortization			(9	)				(10	)					(17	)				(20	)
Special charges (b)			(13	)				—						(27	)				—
Non-service components of pension and postretirement income, net			66					59						132					118
Income from continuing operations before income taxes			323					329						560					556
Income tax expense			(63	)				(66	)					(99	)				(102	)
Income from continuing operations		$	260				$	263					$	461				$	454
Discontinued operations, net of income taxes			(1	)				—						(1	)				—
Net income		$	259				$	263					$	460				$	454
Earnings Per Share:
Income from continuing operations		$	1.35				$	1.30					$	2.38				$	2.22
Diluted average shares outstanding			191,855,000					202,509,000						193,358,000					204,760,000
Income from continuing operations and Diluted earnings per share (EPS) GAAP to Non-GAAP reconciliation:
	June 29, 2024						July 1, 2023					June 29, 2024					July 1, 2023
Income from continuing operations - GAAP		$	260				$	263					$	461				$	454
Add: LIFO inventory provision, net of tax			20					26						35					45
Intangible asset amortization, net of tax			7					7						13					15
Special charges, net of tax			9					—						20					—
Adjusted income from continuing operations - Non-GAAP (a)		$	296				$	296					$	529				$	514
Diluted Earnings Per Share:
Income from continuing operations - GAAP		$	1.35				$	1.30					$	2.38				$	2.22
Add: LIFO inventory provision, net of tax			0.10					0.13						0.18					0.22
Intangible asset amortization, net of tax			0.04					0.03						0.07					0.07
Special charges, net of tax			0.05					—						0.11					—
Adjusted income from continuing operations - Non-GAAP (a)		$	1.54				$	1.46					$	2.74				$	2.51

(a)		Segment profit, adjusted income from continuing operations and adjusted diluted earnings per share are non-GAAP financial measures as defined in "Non-GAAP Financial Measures and Outlook" attached to this release.
(b)		In the second quarter and first half of 2024, we recorded special charges of $13 million and $27 million, respectively, in connection with the restructuring plan announced at the end of 2023. These charges were largely related to headcount reductions in the Industrial, Textron Systems and Bell segments.

TEXTRON INC. Condensed Consolidated Balance Sheets (In millions) (Unaudited)
		June 29, 2024				December 30, 2023
Assets
Cash and equivalents		$	1,345			$	2,121
Accounts receivable, net			847				868
Inventories			4,381				3,914
Other current assets			749				857
Net property, plant and equipment			2,500				2,477
Goodwill			2,295				2,295
Other assets			3,639				3,663
Finance group assets			671				661
Total Assets		$	16,427			$	16,856
Liabilities and Shareholders' Equity
Current portion of long-term debt		$	357			$	357
Accounts payable			1,120				1,023
Other current liabilities			2,979				2,998
Other liabilities			1,828				1,904
Long-term debt			2,884				3,169
Finance group liabilities			407				418
Total Liabilities			9,575				9,869
Total Shareholders' Equity			6,852				6,987
Total Liabilities and Shareholders' Equity		$	16,427			$	16,856

TEXTRON INC. MANUFACTURING GROUP Condensed Schedule of Cash Flows (In millions) (Unaudited)
		Three Months Ended											Six Months Ended
		June 29, 2024					July 1, 2023						June 29, 2024					July 1, 2023
Cash Flows from Operating Activities:
Income from continuing operations		$	254				$	253					$	441				$	438
Depreciation and amortization			90					101						178					193
Deferred income taxes and income taxes receivable/payable			(41	)				(77	)					(22	)				(61	)
Pension, net			(56	)				(51	)					(112	)				(102	)
Changes in assets and liabilities:
Accounts receivable, net			44					(28	)					10					(97	)
Inventories			(117	)				(173	)					(467	)				(553	)
Accounts payable			(14	)				(54	)					107					207
Other, net			223					343						218					442
Net cash from operating activities			383					314						353					467
Cash Flows from Investing Activities:
Capital expenditures			(74	)				(83	)					(140	)				(145	)
Net cash used in business acquisitions			(13	)				—						(13	)				—
Net proceeds from corporate-owned life insurance policies			23					18						26					38
Proceeds from sale of property, plant and equipment			—					—						3					—
Net cash from investing activities			(64	)				(65	)					(124	)				(107	)
Cash Flows from Financing Activities:
Principal payments on long-term debt and nonrecourse debt			(7	)				(1	)					(359	)				(3	)
Purchases of Textron common stock			(358	)				(273	)					(675	)				(650	)
Dividends paid			(4	)				(4	)					(8	)				(8	)
Other financing activities, net			10					4						48					26
Net cash from financing activities			(359	)				(274	)					(994	)				(635	)
Total cash flows from continuing operations			(40	)				(25	)					(765	)				(275	)
Total cash flows from discontinued operations			(1	)				(1	)					(1	)				(1	)
Effect of exchange rate changes on cash and equivalents			(2	)				2						(10	)				8
Net change in cash and equivalents			(43	)				(24	)					(776	)				(268	)
Cash and equivalents at beginning of period			1,388					1,719						2,121					1,963
Cash and equivalents at end of period		$	1,345				$	1,695					$	1,345				$	1,695
Manufacturing cash flow GAAP to Non-GAAP reconciliation:
		Three Months Ended											Six Months Ended
		June 29, 2024					July 1, 2023						June 29, 2024					July 1, 2023
Net cash from operating activities - GAAP		$	383				$	314					$	353				$	467
Less: Capital expenditures			(74	)				(83	)					(140	)				(145	)
Add: Total pension contributions			11					11						23					24
Proceeds from sale of property, plant and equipment			—					—						3					—
Manufacturing cash flow before pension contributions - Non-GAAP (a)		$	320				$	242					$	239				$	346

(a)		Manufacturing cash flow before pension contributions is a non-GAAP financial measure as defined in "Non-GAAP Financial Measures and Outlook" attached to this release.

TEXTRON INC. Condensed Consolidated Schedule of Cash Flows (In millions) (Unaudited)
	Three Months Ended											Six Months Ended
		June 29, 2024					July 1, 2023						June 29, 2024					July 1, 2023
Cash Flows from Operating Activities:
Income from continuing operations		$	260				$	263					$	461				$	454
Depreciation and amortization			90					101						178					193
Deferred income taxes and income taxes receivable/payable			(47	)				(81	)					(24	)				(63	)
Pension, net			(56	)				(51	)					(112	)				(102	)
Changes in assets and liabilities:
Accounts receivable, net			44					(28	)					10					(97	)
Inventories			(117	)				(173	)					(467	)				(553	)
Accounts payable			(14	)				(54	)					107					207
Captive finance receivables, net			(15	)				(21	)					7					(15	)
Other, net			223					341						201					436
Net cash from operating activities			368					297						361					460
Cash Flows from Investing Activities:
Capital expenditures			(74	)				(83	)					(140	)				(145	)
Net cash used in business acquisitions			(13	)				—						(13	)				—
Net proceeds from corporate-owned life insurance policies			23					18						26					38
Proceeds from sale of property, plant and equipment			—					—						3					—
Finance receivables repaid			23					7						31					19
Finance receivables originated			(7	)				—						(18	)				—
Other investing activities, net			—					1						—					2
Net cash from investing activities			(48	)				(57	)					(111	)				(86	)
Cash Flows from Financing Activities:
Principal payments on long-term debt and nonrecourse debt			(9	)				(17	)					(374	)				(34	)
Purchases of Textron common stock			(358	)				(273	)					(675	)				(650	)
Dividends paid			(4	)				(4	)					(8	)				(8	)
Other financing activities, net			(1	)				4						48					26
Net cash from financing activities			(372	)				(290	)					(1,009	)				(666	)
Total cash flows from continuing operations			(52	)				(50	)					(759	)				(292	)
Total cash flows from discontinued operations			(1	)				(1	)					(1	)				(1	)
Effect of exchange rate changes on cash and equivalents			(2	)				2						(10	)				8
Net change in cash and equivalents			(55	)				(49	)					(770	)				(285	)
Cash and equivalents at beginning of period			1,466					1,799						2,181					2,035
Cash and equivalents at end of period		$	1,411				$	1,750					$	1,411				$	1,750

TEXTRON INC.
Non-GAAP Financial Measures and Outlook
(Dollars in millions, except per share amounts)

We supplement the reporting of our financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial measures. These non-GAAP financial measures exclude certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. We believe that these non-GAAP measures may be useful for period-over-period comparisons of underlying business trends and our ongoing business performance, however, they should be used in conjunction with GAAP measures. Our non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define similarly named measures differently. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. We utilize the following definitions for the non-GAAP financial measures included in this release and have provided a reconciliation of the GAAP to non-GAAP amounts for each measure:

Segment Profit
Segment profit is an important measure used by our chief operating decision maker for evaluating performance and for decision-making purposes. Segment profit for the manufacturing segments excludes the non-service components of pension and postretirement income, net; LIFO inventory provision; intangible asset amortization; interest expense, net for Manufacturing group; certain corporate expenses; gains/losses on major business dispositions; and special charges. The measurement for the Finance segment includes interest income and expense along with intercompany interest income and expense.

Adjusted Income from Continuing Operations and Adjusted Diluted Earnings Per Share
Adjusted income from continuing operations and adjusted diluted earnings per share exclude LIFO inventory provision, net of tax; intangible asset amortization, net of tax; special charges, net of tax; and gains/losses on major business dispositions, net of tax. LIFO inventory provision is excluded to improve comparability with other companies in our industry who have not elected to use the LIFO inventory costing method. Intangible asset amortization is excluded to improve comparability as the impact of such amortization can vary substantially from company to company depending upon the nature and extent of acquisitions and exclusion of this expense is consistent with the presentation of non-GAAP measures provided by other companies within our industry. Management believes that it is important for investors to understand that these intangible assets were recorded as part of purchase accounting and contribute to revenue generation. We consider items recorded in special charges, such as enterprise-wide restructuring, certain asset impairment charges, and acquisition-related restructuring, integration and transaction costs, to be of a non-recurring nature that is not indicative of ongoing operations.

	Three Months Ended									Six Months Ended
	June 29, 2024				July 1, 2023					June 29, 2024				July 1, 2023
Income from continuing operations - GAAP		$	260			$	263				$	461			$	454
Add: LIFO inventory provision, net of tax			20				26					35				45
Intangible asset amortization, net of tax			7				7					13				15
Special charges, net of tax			9				—					20				—
Adjusted income from continuing operations - Non-GAAP		$	296			$	296				$	529			$	514
Diluted Earnings Per Share:
Income from continuing operations - GAAP		$	1.35			$	1.30				$	2.38			$	2.22
Add: LIFO inventory provision, net of tax			0.10				0.13					0.18				0.22
Intangible asset amortization, net of tax			0.04				0.03					0.07				0.07
Special charges, net of tax			0.05				—					0.11				—
Adjusted income from continuing operations - Non-GAAP		$	1.54			$	1.46				$	2.74			$	2.51

	2024 Outlook
									Diluted EPS
Income from continuing operations - GAAP		$	1,040		$	1,078			$	5.44		$	5.66
Add: LIFO inventory provision, net of tax				85							0.44
Intangible asset amortization, net of tax				27							0.14
Special charges, net of tax			33	—		30				0.18	—		0.16
Adjusted income from continuing operations - Non-GAAP		$	1,185	—	$	1,220			$	6.20	—	$	6.40

TEXTRON INC.
Non-GAAP Financial Measures and Outlook (Continued)
(Dollars in millions, except per share amounts)

Manufacturing Cash Flow Before Pension Contributions
Manufacturing cash flow before pension contributions adjusts net cash from operating activities (GAAP) for the following:

• Deducts capital expenditures and includes proceeds from insurance recoveries and the sale of property, plant and equipment to arrive at the net capital investment required to support ongoing manufacturing operations;
• Excludes dividends received from Textron Financial Corporation (TFC) and capital contributions to TFC provided under the Support Agreement and debt agreements as these cash flows are not representative of manufacturing operations;
• Adds back pension contributions as we consider our pension obligations to be debt-like liabilities. Additionally, these contributions can fluctuate significantly from period to period and we believe that they are not representative of cash used by our manufacturing operations during the period.

While we believe this measure provides a focus on cash generated from manufacturing operations, before pension contributions, and may be used as an additional relevant measure of liquidity, it does not necessarily provide the amount available for discretionary expenditures since we have certain non-discretionary obligations that are not deducted from the measure.

		Three Months Ended										Six Months Ended
		June 29, 2024					July 1, 2023					June 29, 2024					July 1, 2023
Net cash from operating activities - GAAP		$	383				$	314				$	353				$	467
Less: Capital expenditures			(74	)				(83	)				(140	)				(145	)
Add: Total pension contributions			11					11					23					24
Proceeds from sale of property, plant and equipment			—					—					3					—
Manufacturing cash flow before pension contributions - Non-GAAP		$	320				$	242				$	239				$	346

	2024 Outlook
Net cash from operating activities - GAAP		$	1,272	—		$	1,372
Less: Capital expenditures				(425)
Add: Total pension contributions				50
Proceeds from sale of property, plant and equipment				3
Manufacturing cash flow before pension contributions - Non-GAAP		$	900	—		$	1,000

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240718727647/en/

Investor Contacts:

David Rosenberg – 401-457-2288

Kyle Williams – 401-457-2288



Media Contact:

Mike Maynard – 401-457-2362

Source: Textron

FAQ

What was Textron's (TXT) EPS for Q2 2024?

Textron (TXT) reported an EPS of $1.35 for Q2 2024, with an adjusted EPS of $1.54.

How much did Textron (TXT) return to shareholders in Q2 2024?

Textron (TXT) returned $358 million to shareholders through share repurchases in Q2 2024.

What was Textron Aviation's backlog at the end of Q2 2024?

Textron Aviation's backlog at the end of Q2 2024 was $7.5 billion.

How did Bell's revenues change in Q2 2024 compared to Q2 2023?

Bell's revenues increased by $93 million to $794 million in Q2 2024 compared to Q2 2023.