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Jun 30, 2020
Textron Q2 2020 Earnings Report
Reported a net loss and positive adjusted earnings, driven by strong cash performance and defense business.
Key Takeaways
Textron reported a net loss of $0.40 per share, but adjusted net income was $0.13 per share. The defense businesses performed well, while commercial businesses reduced costs. Strong cash performance and positive adjusted earnings were driven by the teams' response to the pandemic.
Net loss of $0.40 per share, compared to income of $0.93 per share in Q2 2019.
Adjusted net income of $0.13 per share, excluding special charges and inventory valuation charge.
Defense businesses showed revenue growth and strong operating performance.
Manufacturing group's net cash from operating activities totaled $245 million.
Revenue by Segment
Forward Guidance
Textron will host its conference call today, July 30, 2020 at 8:00 a.m. (Eastern) to discuss its results and outlook.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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