Textron Earnings Call Transcripts
Fiscal Year 2026
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Revenue rose 3% year-over-year to $3.8 billion, with all manufacturing segments contributing to growth and adjusted EPS up to $1.62. Strong demand and multi-year backlogs support a positive outlook, but supply chain and funding risks remain, especially for the MV-75 program.
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Q1 revenue rose 12% to $3.7B, segment profit grew 10%, and adjusted EPS increased 13%. Announced plan to separate the industrial segment, creating a pure-play A&D company with strong backlogs and robust order activity. Supply chain and margin improvements expected through the year.
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The meeting introduced a new CEO, confirmed the re-election of directors, and approved all proposals including auditor ratification and executive compensation. A quorum was achieved with 92% of shares represented, and no shareholder questions were submitted.
Fiscal Year 2025
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Record 2025 revenue and profit growth driven by strong Aviation and Bell performance, with robust backlogs and continued investment in new programs. 2026 guidance projects further revenue and EPS growth, supported by MV-75 program acceleration and ongoing capital returns.
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Q3 revenue rose 5% to $3.6B, with segment profit up 26% and strong growth in aviation and defense. Backlog and demand remain robust, supply chain issues are improving, and full-year EPS guidance is maintained. Leadership transition to Lisa Atherton as CEO announced.
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Second quarter revenue grew 5.4% year-over-year to $3.7 billion, with strong performance in aviation and Bell, and improved cash flow. Full-year EPS guidance is maintained, and cash flow outlook is raised, with margin improvement expected in the second half.
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Q1 2025 revenues rose 5% to $3.3B, with strong Bell growth offsetting industrial declines. Adjusted EPS increased to $1.28, and full-year guidance was reaffirmed. Aviation and Bell backlogs remain robust, and the company completed the sale of its Powersports business.
Fiscal Year 2024
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Q4 2024 saw lower revenue and profit due to an Aviation strike and Industrial softness, but strong order activity drove backlog to $17.9 billion. 2025 guidance projects 7% revenue growth, higher EPS, and improved cash flow, with Aviation and Bell expected to lead gains.
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Q3 2024 saw revenue growth but lower adjusted EPS due to a four-week Aviation strike, which disrupted production and led to reduced guidance for the year. Bell and Aviation backlogs grew, while industrial and European auto markets remained soft.
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Aviation backlog is strong with robust demand, though supply chain and labor issues constrain production. Bell's FLRAA program advances, but margin pressure is expected as cost-plus engineering replaces higher-margin manufacturing. Systems and Industrial segments face headwinds but anticipate growth from new programs and technology investments.
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Revenues and profits grew year-over-year, led by strong aviation and defense demand, while industrial faced softness. Aviation margins remained robust, with solid backlog and continued share repurchases. Supply chain and consumer market challenges persist.