Textron Faces Profitability Headwinds, but Cash Flows Still Buoyant
No-moat Textron reported third-quarter results that beat consensus expectations for earnings per share but missed on revenue. Although management decreased 2017 tax rate guidance to 26.5% from 28.5%, it still knocked $0.10 off the high end of its adjusted EPS guidance for 2017, which is now $2.40-$2.50. The industrial segment, which had a tough quarter, and revenue pressures at Textron Aviation are weighing on the business. Last quarter, management flagged the possibility of an operating cash fl...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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