Shopping Cart  |  Intelligence Center


HOME PRODUCTS & SERVICES MEDIA CENTER CONSULTING SERVICES FREE TRIALS & DEMOS LOG IN CONTACT US

AEROSPACE & DEFENSE ELECTRONICS
AIRLINES, COMMERCIAL AVIATION & MAINTENANCE
AVIATION ENGINES, PROPULSION & AUXILIARY POWER UNITS
INDUSTRIAL & MARINE GAS TURBINES
INTERNATIONAL MILITARY MARKETS & BUDGETS - EURASIA, ASIA, AUSTRALIA & PACIFIC RIM
INTERNATIONAL MILITARY MARKETS & BUDGETS - EUROPE, MIDDLE EAST & AFRICA
INTERNATIONAL MILITARY MARKETS & BUDGETS - NORTH & SOUTH AMERICA
MILITARY AIRCRAFT
MILITARY VEHICLES, ORDNANCE, MUNITIONS, AMMUNITION & SMALL ARMS
MISSILES & MISSILE SYSTEMS
NAVAL SHIPS AND OPERATING SYSTEMS
NON-US AEROSPACE/DEFENSE COMPANIES & CONTRACTS
REGIONAL, BUSINESS & GENERAL AVIATION
ROTORCRAFT
SPACECRAFT, LAUNCH VEHICLES & SATELLITES
US AEROSPACE/DEFENSE COMPANIES & CONTRACTS
Drones and Unmanned Systems - Air, Sea, Land, Micro & Robot Systems
UTILITIES, ROTATING MACHINERY & POWER GENERATION

US Aerospace/Defense Companies & Contracts
 
TEXTRON REPORTS THIRD QUARTER 2014 RESULTS
Friday, October 17, 2014

Source: Textron

PROVIDENCE, R.I. - Textron reported third quarter 2014 revenues of $3.4 billion, up 18 percnet from $2.9 billion in the third quarter of 2013. Beechcraft, which was acquired in March, 2014, contributed $398 million to the increase. Textron's net income in the quarter was $159 million, compared to $99 million in the third quarter of 2013.

"Revenues at Textron Aviation, Industrial and Bell were up during the quarter, primarily reflecting the success of our new product investment and acquisition strategies," said Textron Chairman and CEO Scott C. Donnelly. Donnelly continued, "Operationally, we achieved significant margin improvement in the quarter at Textron Aviation, reflecting higher volumes and better performance. Bell also had improved performance, leading to an increase in quarterly margins compared to last year."

INDUSTRY SEGMENTS

Textron Aviation

Revenues at Textron Aviation were up $1,080 million (2013: $593 million), reflecting the impact of the Beechcraft acquisition and higher jet deliveries. Textron Aviation delivered 33 new jets in the quarter, up from 25 jets in last year's third quarter, and 30 King Air turboprops.

Textron Aviation recorded a segment profit of $62 million in the third quarter compared to a loss of $23 million a year ago in our Cessna segment. The improvement reflects the impact of the Beechcraft acquisition, higher volumes and favorable pricing and inflation.

Textron Aviation backlog at the end of the third quarter was $1.4 billion, approximately flat with the end of the second quarter.

Bell

Bell revenues increased $20 million to $1.18 billion (2013: $1.16 billion), primarily the result of higher V-22 program volume, partially offset by lower H-1 and commercial deliveries.

Bell delivered 12 V-22's and 4 H-1's in the quarter, compared to 10 V-22's and 7 H-1's in last year's third quarter and 41 commercial helicopters, compared to 54 units last year.

Segment profit increased $15 million to $146 million (2013: $131 million) primarily due to favorable performance.

Bell backlog at the end of the third quarter was $5.3 billion, down $499 million from the end of the second quarter.

Textron Systems

Revenues at Textron Systems decreased $47 million to $358 million (2013: 405 million), reflecting lower Marine and Land Systems volumes, partially offset by the impact of acquisitions.

Segment profit was down $8 million to $27 million (2013: $35 million), primarily reflecting the lower volumes.

Textron Systems' backlog at the end of the third quarter was $3.1 billion, up $119 million from the end of the second quarter.

Industrial

Industrial revenues increased $74 million to $785 million (2013: $711 million) due to the impact of acquisitions and higher overall volumes. Segment profit increased $1 million to $53 million reflecting the higher volumes offset by an unfavorable mix of revenues in the quarter.

Finance

Finance segment revenues decreased $8 million to $25 million (2013: $33 million) primarily due to gains on finance receivable dispositions during the third quarter of 2013. Segment profit decreased $8 million to $5 million (2013: $13 million) primarily due to the prior year impacts of loan loss reversals and gains on the finance receivables dispositions, partially offset by lower administrative expenses.

Source:  Forecast International Government & Industry Group
Associated URL: www.textron.com
Source Date: October 17, 2014
Author: R. Pettibone, Gov't & Industry  
Posted: 10/17/2014

 

NOTICE TO USERS

Warranty: Forecast International makes no guarantees as to the veracity or accuracy of the information provided. It warrants only that the information, which has been obtained from multiple sources, has been researched and screened to the best of the ability of our staff within the limited time constraints. Forecast International encourages all clients to use multiple sources of information and to conduct their own research on source data prior to making important decisions. All URLs listed were active as of the time the information was recorded. Some hyperlinks may have become inactive since the time of publication.

Technical Support: Phone (203)426-0800 e-mail support@forecast1.com

Subscription Information: Phone (203)426-0800 or (800)451-4975; FAX (203)426-0223 (USA) or e-mail sales@forecast1.com

Aerospace/Defense News Highlights is published by Forecast International, 22 Commerce Road, Newtown CT 06470 USA. Articles that list Forecast International as the source are Copyrighted © 2014. Reproduction in any form, or transmission by electronic or other means, is prohibited without prior approval from the publisher.

Forecast International invites all interested companies to submit their announcements and press releases for review and inclusion in our Intelligence Letters.

Contact: Ray Peterson, Director of Research
E-Mail: Ray.Peterson@forecast1.com
Phone: 800-451-4975
FAX: 203-270-8919



HOME PRODUCTS & SERVICES MEDIA CENTER FREE TRIALS & DEMOS CONTACT US PRIVACY STATEMENT TERMS AND CONDITIONS

Forecast International © 2014 22 Commerce Rd Newtown, CT 06470 USA Phone: 203.426.0800 Toll-Free: 800.451.4975 (USA & Canada) Fax: 203.426.0223 info@forecast1.com