1Q Results Indicate Textron Still Facing Tough Market Conditions
No-moat Textron reported first-quarter results that featured revenue and profits down year over year. Soft demand for business aircraft and fewer helicopter deliveries weighed on revenue. The acquisition of Arctic Cat, lower volume in business aircraft, and TAPV program challenges in the Textron Systems business adversely affected profitability. Management revised 2017 earnings per share guidance due to dilution coming from the Arctic Cat deal. We plan to update our forecasts but don’t expect a ...Textron is a multi-industry company. The company's segments include: Textron Aviation, which manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets; Bell, which supplies military and commercial helicopters, tiltrotor aircraft, and related spare parts and services; Textron Systems, which includes unmanned systems, marine and land systems, and simulation, training and other; Industrial, which designs and manufactures a variety of products within fuel systems and functional components and specialized vehicles product lines; and Finance, which provides financing to purchasers of new and pre-owned Textron Aviation aircraft and Bell helicopters.
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