PROVIDENCE, R.I. — Textron Inc. posted a third-quarter profit Wednesday in contrast to a loss a year ago thanks to strong sales of Bell helicopters and Cessna jets.
The earnings topped Wall Street estimates and Textron shares rose 10 cents to $18.76 in premarket trading.
The diversified manufacturer reported net income of $142 million, or 47 cents per share, for the three months ended Oct. 1 versus a net loss of $48 million, or 17 cents per share, a year earlier. Last year's results included $114 million in restructuring and foreign currency exchange charges.
Revenue rose 13.5 percent to $2.81 billion from $2.48 billion a year ago.
The Providence, R.I., company also reported earnings from continuing operations of 45 cents per share for the quarter.
Analysts, on average, expected a profit of 31 cents per share on $2.84 billion in revenue, according to a FactSet survey.
Profit at the Bell helicopter division rose 34 percent to $143 million on increased aircraft sales, while Cessna reversed a loss and made $33 million on higher jet sales. Industrial profit was flat at $37 million.
The company also increased the low end of its full-year profit prediction, saying it expects a profit from continuing operations of $1.05 to $1.15 per share. Analysts polled by FactSet expect a profit of $1.11 per share.
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