Textron 4Q Profit, Revenue Rise, Boosted by Aviation Business – MarketWatch
January 25, 2023
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
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