Yahoo Finance Textron First Quarter 2024 Earnings: Misses Expectations
Textron (NYSE:TXT) First Quarter 2024 Results
Key Financial Results
Revenue: US$3.14b (up 3.7% from 1Q 2023).
Net income: US$201.0m (up 5.2% from 1Q 2023).
Profit margin: 6.4% (up from 6.3% in 1Q 2023). The increase in margin was driven by higher revenue.
EPS: US$1.03 (up from US$0.93 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Textron Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 9.0%.
Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Aerospace & Defense industry in the US.
Performance of the American Aerospace & Defense industry.
The company's shares are down 8.3% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Textron's balance sheet and an in-depth analysis of the company's financial position.
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