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Sep 28, 2024
Textron Q3 2024 Earnings Report
Textron's Q3 2024 performance was impacted by a labor strike at Textron Aviation, but Bell achieved a key milestone with the U.S. Army's approval of Milestone B for the FLRAA program.
Key Takeaways
Textron reported EPS of $1.18 and adjusted EPS of $1.40 for Q3 2024. The results were impacted by a strike at Textron Aviation, which lowered revenues by approximately $50 million and segment profit by approximately $30 million. Bell achieved a key milestone on the FLRAA program.
EPS was $1.18; adjusted EPS was $1.40, down from $1.49 in the prior year.
Net cash from operating activities was $208 million.
$215 million was returned to shareholders through share repurchases.
Textron Aviation segment revenue and profit were impacted by the IAM strike.
Revenue by Segment
Forward Guidance
Textron now expects 2024 adjusted earnings per share from continuing operations to be in a range of $5.40 to $5.60, down from its previous outlook of $6.20 to $6.40. Manufacturing cash flow before pension contributions is now expected to be in a range of $650 million to $750 million, as compared to its previous outlook of $0.9 billion to $1.0 billion, with planned pension contributions of about $50 million.
Challenges Ahead
- Revenue and segment profit to be unfavorably impacted in the fourth quarter of 2024 related to the labor disruption.
- The recovery of production and delivery activities as employees return to work will have a negative impact.
- 2024 adjusted earnings per share from continuing operations is expected to be in a range of $5.40 to $5.60, down from its previous outlook of $6.20 to $6.40.
- Manufacturing cash flow before pension contributions is now expected to be in a range of $650 million to $750 million, as compared to its previous outlook of $0.9 billion to $1.0 billion.
- Planned pension contributions of about $50 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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