Textron 4Q Profit, Revenue Rise, Boosted by Aviation Business – MarketWatch

By Dean Seal

Textron Inc. reported growing top and bottom lines for the fourth quarter on higher volumes and prices in its aviation business.

The Providence, R.I.-based aircraft maker posted a profit of $226 million, compared with $207 million in the same quarter a year ago. Earnings rose to $1.07 a share from 93 cents a share last year, in line with the expectations of analysts polled by FactSet.

Revenue increased to $3.64 billion from $3.31 billion in the year-ago, meeting analyst expectations.

Textron said its aviation backlog reached $6.4 billion by the end of the fourth quarter, up $2.3 billion from the end of 2021.

Shares were up 1.3%, at $70.53, in premarket trading.

Write to Dean Seal at dean.seal@wsj.com