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Textron (TXT) Beats on Q3 Earnings, Misses Revenues Estimate

Zacks Equity Research
Updated

Textron Inc. TXT, the aerospace and defense company is globally known for its most recognizable and valuable brand names such as the Bell Helicopter. This diversified U.S. conglomerate has a strong presence in diverse areas of business jets and other general aviation aircraft, helicopter and aircraft engines.

However, global political uncertainties and intensifying competition causes of concern.

Earnings Surprise History

Textron has reported earnings surprise of 9.09% in the second quarter of 2017. The company reported positive earnings surprise in two of the last four quarters with an average positive surprise of 1.20%.

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Zacks Rank

Currently, Textron has a Zacks Rank #4 (Sell), but that could definitely change following Textron’s third-quarter 2017 earnings report which was just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Textron Inc. Price and EPS Surprise

Textron Inc. Price and EPS Surprise | Textron Inc. Quote

We have mentioned below some of the vital information from this just-revealed announcement:

Earnings Beat: Our consensus called for third quarter EPS of 62 cents, and the company reported adjusted EPS of 65 cents.

Revenue Miss: Textron posted revenues of $3.48 billion in third quarter, compared to our consensus estimate of $3.54 billion.

Key Developments to Note

Textron has lowered the upper limit of its adjusted earnings guidance range for 2017. The company currently expects to generate adjusted earnings in the range of $2.40 - $2.50 per share, compared to prior guidance range of $2.40 - $2.60 per share.

Stock Price:  Following the earnings release, share prices for the company made no significant change in the pre-market trading session.

Check back later for our full write up on this Textron earnings report later!

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