Aircraft maker Textron tops profit estimates on strong aftermarket service, Bell demand
"In the quarter, we saw revenue growth in both our commercial aircraft and helicopter businesses, as well as in Bell's FLRAA program, now known as the MV-75," said Textron Chairman and CEO Scott C. Donnelly.
Textron's larger aviation segment, which manufactures Cessna and Beechcraft aircraft, delivered 49 jets in the quarter, up from 42 in the second quarter last year. However, its quarterly deliveries of commercial turboprop were down to 34 from 44 last year.
The segment's revenue rose 2.9% from last year to $1.52 billion, aided by higher aftermarket parts and services revenues in the second quarter.
The company's Bell unit makes helicopters and tiltrotors, and has benefited from the Bell V-280 Valor program which the U.S. Army designates as the MV-75 future long-range assault aircraft.
The unit posted a nearly 30% rise in quarterly revenue to $1.02 billion.
Textron's total revenue rose more than 5% to $3.72 billion in the second quarter, compared with estimates of $3.64 billion, according to LSEG compiled data.
Its quarterly adjusted profit stood at $1.55 per share, compared with the average of analysts' estimates of $1.44 per share.
Textron reiterated its expectation for full-year 2025 adjusted earnings to be in the range of $6.00 to $6.20 per share.
The Providence, Rhode Island-based firm, however, sees a $100 million hike in its annual adjusted manufacturing cash flow to be in the range of $900 million to $1.0 billion. This incorporates the expected impact associated with recently enacted U.S. tax legislation.
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