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Textron Inc. TXT reported first-quarter 2025 adjusted earnings of $1.28 per share, which beat the Zacks Consensus Estimate of $1.17 by 9.4%. The bottom line also increased 6.7% from $1.20 in the year-ago quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
The company reported GAAP earnings of $1.13 per share, up from $1.03 reported in the first quarter of 2024.
The year-over-year improvement can be attributed to higher revenues and lower average shares outstanding.
The company reported total revenues of $3.31 billion, which beat the Zacks Consensus Estimate of $3.25 billion by 1.9%. Moreover, revenues increased 5.5% from the year-ago quarter’s level of $3.14 billion.
Manufacturing revenues improved 5.4% year over year to $3.29 billion.
Textron Inc. price-consensus-eps-surprise-chart | Textron Inc. Quote
Textron Aviation: Revenues from this segment increased 2% year over year to $1.21 billion. This was primarily driven by higher aftermarket parts and services revenues.
The segment generated an operating profit of $127 million compared with $143 million in the year-ago period. This deterioration can be attributed to the unfavorable mix of aircraft sold.
Textron Aviation delivered 31 jets, down from 36 in the year-ago quarter. It also delivered 30 commercial turboprops, up from 20 in the first quarter of 2024.
The segment’s order backlog at the end of the quarter totaled $7.9 billion.
Bell: Revenues from this segment amounted to $983 million, up 35.2% from the year-ago quarter’s registered number. This was driven by increased military revenues, primarily related to the FLRAA program and military sustainment programs, as well as higher commercial revenues.
The segment’s profit increased 12.5% to $90 million due to higher volume and mix of products and services.
Bell delivered 29 commercial helicopters, up from 18 delivered in the first quarter of 2024.
Its order backlog at the end of the quarter totaled $7.1 billion.
Textron Systems: This segment’s revenues amounted to $296 million, down 3.3% from the year-ago quarter’s registered number, due to lower volume, which included the impact of the cancellation of the Shadow program.
The segment’s profits totaled $40 million, up 5.3% from the prior-year figure. The improvement was primarily driven by lower research and development costs.
Textron Systems’ backlog at the end of the quarter totaled $2.3 billion.
Industrial: Revenues from this segment declined 11.2% to $792 million due to lower volumes and mix, notably in the Specialized Vehicles product line.
Moreover, the segment’s profit totaled $30 million compared with $29 million in the prior-year quarter.
Textron eAviation: Revenues from the segment totaled $7 million, in line with the prior-year period. It reported a loss of $17 million, narrower than the loss of $18 million incurred in the prior-year period.
Finance: This segment’s revenues increased 6.7% to $16 million. Its profit totaled $10 million compared with $18 million in the year-ago period.
As of March 29, 2025, cash and cash equivalents totaled $1.19 billion compared with $1.39 billion as of Dec. 28, 2024.
Cash used in operating activities in the first three months of 2025 amounted to $114 million compared with $30 million in the year-ago period.
Capital expenditures amounted to $56 million compared with $66 million in the prior-year period.
The long-term debt totaled $3.04 billion as of March 29, 2025, compared with $2.89 billion as of Dec. 28, 2024.
Textron reiterated its 2025 adjusted earnings per share (EPS) outlook. The company still expects adjusted EPS to be in the range of $6.00-$6.20. The Zacks Consensus Estimate for earnings is pegged at $6.07 per share, which lies below the mid-point of its guided range.
Textron currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lockheed Martin Corporation LMT reported first-quarter 2025 earnings of $7.28 per share, which beat the Zacks Consensus Estimate of $6.34 by 14.8%. The bottom line increased 15% from the year-ago quarter's reported figure of $6.33 per share.
The company’s net sales were $17.96 billion, which beat the consensus estimate of $17.76 billion by 1.1%. The top line also increased 4.5% from $17.20 billion reported in the year-ago quarter.
Northrop Grumman Corporation NOC reported first-quarter 2025 adjusted earnings of $6.06 per share, which missed the Zacks Consensus Estimate of $6.21 by 2.4%.
NOC’s total sales of $9.47 billion in the first quarter missed the consensus estimate of $9.91 billion by 4.4%. The top line also declined 6.6% from $10.13 billion reported in the year-ago quarter.
RTX Corporation’s RTX first-quarter 2025 adjusted earnings per share of $1.47 beat the Zacks Consensus Estimate of $1.35 by 8.9%. The bottom line also improved 9.7% from the year-ago quarter’s level of $1.34, driven by growth in adjusted segment operating profit.
Its first-quarter sales totaled $20.31 billion, which surpassed the consensus estimate of $19.71 billion by 3%. The top line also surged a solid 5.2% from $19.31 billion recorded for the first quarter of 2024.
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This article originally published on Zacks Investment Research (zacks.com).
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