Textron Earnings: Here’s What’s Moving the Stock Now
Textron Inc. (NYSE:TXT) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.66%.
Textron Inc. Earnings Cheat Sheet
Results: Net income increased to $148 million (56 cents per diluted share) in the quarter versus a net loss of $19 million in the year-earlier quarter.
Revenue: Rose 3.26% to $3.36 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Textron Inc. reported adjusted net income of 56 cents per share. By that measure, the company met the mean analyst estimate of $0.56. It missed the average revenue estimate of $3.42 billion.