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Yahoo
5 days ago
- Business
- Yahoo
Aircraft maker Textron tops profit estimates on strong aftermarket service, Bell demand
(Reuters) -Aircraft maker Textron beat second-quarter profit and revenue estimates on Thursday, helped by strong demand for aftermarket parts and services and growth in its Bell unit. "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.
Business Wire
5 days ago
- Business
- Business Wire
Textron Reports Second Quarter 2025 Results
PROVIDENCE, R.I.--(BUSINESS WIRE)--Textron Inc. (NYSE: TXT) today reported second quarter 2025 income from continuing operations of $1.35 per share, flat with the second quarter of 2024. Adjusted income from continuing operations, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, was $1.55 per share for the second quarter of 2025, compared to $1.54 per share in the second quarter of 2024. "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. "At Textron Aviation, operations continued to improve as production ramped." Cash Flow Net cash provided by operating activities of the manufacturing group for the second quarter was $395 million, compared to $383 million last year. Manufacturing cash flow before pension contributions, a non-GAAP measure that is defined and reconciled to GAAP in an attachment to this release, totaled $336 million for the second quarter, compared to $320 million last year. In the quarter, Textron returned $214 million to shareholders through share repurchases. Year to date, Textron has returned $429 million to shareholders through share repurchases. Outlook Textron reiterated its expectation for full-year 2025 GAAP earnings per share from continuing operations to be in the range of $5.19 to $5.39, or $6.00 to $6.20 on an adjusted basis, which is reconciled to GAAP in an attachment to this release. Manufacturing cash flow before pension contributions, a non-GAAP measure, is now expected to be in the range of $900 million to $1.0 billion, up $100 million from the previous outlook. This updated outlook incorporates the expected impact associated with recently enacted U.S. tax legislation. Second Quarter Segment Results Textron Aviation Textron Aviation's revenues were $1.5 billion, up $42 million from last year's second quarter, reflecting higher aircraft revenues of $35 million and higher aftermarket parts and services revenues of $7 million. Textron Aviation delivered 49 jets in the quarter, up from 42 in the second quarter of 2024, and 34 commercial turboprops, down from 44 in last year's second quarter. Segment profit was $180 million in the second quarter, down $15 million from a year ago, primarily due to the mix of aircraft sold and higher warranty costs, partially offset by the favorable impact of manufacturing efficiencies and higher pricing, net of inflation. Textron Aviation backlog at the end of the second quarter was $7.85 billion. Bell Bell revenues were $1.0 billion, up $222 million from the second quarter of 2024. The revenue increase in the quarter was driven by higher military revenues of $149 million, primarily due to higher volume from the U.S. Army's MV-75 program, and higher commercial revenues of $73 million, primarily due to the mix of aircraft sold. Bell delivered 32 commercial helicopters in the quarter, flat with 32 in last year's second quarter. Segment profit of $80 million was down $2 million from last year's second quarter, primarily reflecting higher research and development costs, partially offset by higher volume and mix. Bell backlog at the end of the second quarter was $6.9 billion. Textron Systems Textron Systems revenues were $321 million, down $2 million from last year's second quarter. Segment profit of $40 million was up $5 million, compared with the second quarter of 2024, primarily due to lower selling and administrative expense. Textron Systems backlog at the end of the second quarter was $2.2 billion. Industrial Industrial revenues were $839 million, down $75 million from last year's second quarter, largely at Textron Specialized Vehicles where revenues decreased $66 million, reflecting the impact from the disposition of the Powersports business in the second quarter of 2025 and lower volume. Segment profit of $54 million was up $12 million from the second quarter of 2024, primarily reflecting the impact from the disposition of the Powersports business and the benefit of cost reductions from restructuring activities, partially offset by lower volume and mix. Textron eAviation Textron eAviation segment revenues were $8 million in the second quarter of 2025, as compared to $9 million in last year's second quarter, and segment loss was $16 million, as compared with a segment loss of $18 million in the second quarter of 2024. Finance Finance segment revenues were $15 million, and profit was $8 million in the second quarter of 2025, as compared to segment revenues of $12 million and profit of $7 million in the second quarter of 2024. Conference Call Information Textron will host its conference call today, July 24, 2025 at 8:00 a.m. (Eastern) to discuss its results and outlook. The call will be available via webcast at or by direct dial at (833) 470-1428 in the U.S. or (929) 526-1599 outside of the U.S.; Access Code: 626840. In addition, the call will be recorded and available for playback beginning at 11:00 a.m. (Eastern) on Thursday, July 24, 2025 by dialing (866) 813-9403; Access Code: 942127. A package containing key data that will be covered on today's call can be found in the Investor Relations section of the company's website at About Textron Inc. Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Hawker, Pipistrel, Jacobsen, Kautex, Lycoming, E-Z-GO, and Textron Systems. For more information visit: Forward-looking Information Certain statements in this release and other oral and written statements made by us from time to time are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which may describe strategies, goals, outlook or other non-historical matters, or project revenues, income, returns or other financial measures, often include words such as 'believe,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'estimate,' 'guidance,' 'project,' 'target,' 'potential,' 'will,' 'should,' 'could,' 'likely' or 'may' and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. In addition to those factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under 'Risk Factors', among the factors that could cause actual results to differ materially from past and projected future results are the following: Interruptions in the U.S. Government's ability to fund its activities and/or pay its obligations; changing priorities or reductions in the U.S. Government defense budget, including those related to military operations in foreign countries; our ability to perform as anticipated and to control costs under contracts with the U.S. Government; the U.S. Government's ability to unilaterally modify or terminate its contracts with us for the U.S. Government's convenience or for our failure to perform, to change applicable procurement and accounting policies, or, under certain circumstances, to withhold payment or suspend or debar us as a contractor eligible to receive future contract awards; changes in foreign military funding priorities or budget constraints and determinations, or changes in government regulations or policies on the export and import of military and commercial products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; volatility in interest rates or foreign exchange rates and inflationary pressures; risks related to our international business, including establishing and maintaining facilities in locations around the world and relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business, including in emerging market countries; our Finance segment's ability to maintain portfolio credit quality or to realize full value of receivables; performance issues with key suppliers or subcontractors; legislative or regulatory actions, both domestic and foreign, impacting our operations or demand for our products; our ability to control costs and successfully implement various cost-reduction activities; the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; pension plan assumptions and future contributions; demand softness or volatility in the markets in which we do business; cybersecurity threats, including the potential misappropriation of assets or sensitive information, corruption of data or, operational disruption; difficulty or unanticipated expenses in connection with integrating acquired businesses; the risk that acquisitions do not perform as planned, including, for example, the risk that acquired businesses will not achieve revenue and profit projections; the impact of changes in tax legislation; the risk of disruptions to our business and the business of our suppliers, customers and other business partners due to unexpected events, such as pandemics, natural disasters, acts of war, strikes, terrorism, social unrest or other societal, geopolitical or macroeconomic conditions; risks related to changing U.S. and foreign trade policies, including increased trade restrictions or tariffs; and the ability of our businesses to hire and retain the highly skilled personnel necessary for our businesses to succeed. (a) Segment profit, adjusted income from continuing operations and adjusted diluted earnings per share are non-GAAP financial measures as defined in "Non-GAAP Financial Measures and Outlook" attached to this release. (b) In the second quarter of 2025, we initiated restructuring actions to reduce operating expenses in the Textron Systems segment in connection with the termination of certain U.S government development programs. We incurred $8 million in special charges, which included $5 million of severance costs and $3 million of contract termination costs. These charges were partially offset by a pre-tax gain of $4 million recognized in the second quarter of 2025 related to the sale of the Powersports business. In the second quarter and first half of 2024, we recorded special charges of $13 million and $27 million, respectively, in connection with the restructuring plan announced at the end of 2023. These charges were largely related to headcount reductions in the Industrial, Textron Systems and Bell segments. Expand TEXTRON INC. MANUFACTURING GROUP Condensed Schedule of Cash Flows (In millions) (Unaudited) Three Months Ended Six Months Ended June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 Cash Flows from Operating Activities: Income from continuing operations $ 236 $ 254 $ 435 $ 441 Depreciation and amortization 100 90 192 178 Deferred income taxes and income taxes receivable/payable 11 (41 ) 26 (22 ) Pension, net (58 ) (56 ) (117 ) (112 ) Gain on business disposition (4 ) — (4 ) — Changes in assets and liabilities: Accounts receivable, net 38 44 54 10 Inventories (101 ) (117 ) (284 ) (467 ) Accounts payable (8 ) (14 ) 163 107 Other, net 181 223 (184 ) 218 Net cash from operating activities 395 383 281 353 Cash Flows from Investing Activities: Capital expenditures (78 ) (74 ) (134 ) (140 ) Net proceeds from corporate-owned life insurance policies 26 23 57 26 Net proceeds from business disposition 16 — 16 — Proceeds from sale of property, plant and equipment 9 — 9 3 Net cash used in business acquisitions (1 ) (13 ) (1 ) (13 ) Other investing activities, net — — 15 — Net cash from investing activities (28 ) (64 ) (38 ) (124 ) Cash Flows from Financing Activities: Net proceeds from long-term debt — — 495 — Principal payments on long-term debt and nonrecourse debt (1 ) (7 ) (353 ) (359 ) Purchases of Textron common stock (214 ) (358 ) (429 ) (675 ) Dividends paid (4 ) (4 ) (7 ) (8 ) Other financing activities, net (5 ) 10 (5 ) 48 Net cash from financing activities (224 ) (359 ) (299 ) (994 ) Total cash flows from continuing operations 143 (40 ) (56 ) (765 ) Total cash flows from discontinued operations (1 ) (1 ) (1 ) (1 ) Effect of exchange rate changes on cash and equivalents 16 (2 ) 23 (10 ) Net change in cash and equivalents 158 (43 ) (34 ) (776 ) Cash and equivalents at beginning of period 1,194 1,388 1,386 2,121 Cash and equivalents at end of period $ 1,352 $ 1,345 $ 1,352 $ 1,345 Manufacturing cash flow GAAP to Non-GAAP reconciliation: Three Months Ended Six Months Ended June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 Net cash from operating activities - GAAP $ 395 $ 383 $ 281 $ 353 Less: Capital expenditures (78 ) (74 ) (134 ) (140 ) Add: Total pension contributions 10 11 22 23 Proceeds from sale of property, plant and equipment 9 — 9 3 Manufacturing cash flow before pension contributions - Non-GAAP (a) $ 336 $ 320 $ 178 $ 239 Expand (a) Manufacturing cash flow before pension contributions is a non-GAAP financial measure as defined in "Non-GAAP Financial Measures and Outlook" attached to this release. Expand TEXTRON INC. Condensed Consolidated Schedule of Cash Flows (In millions) (Unaudited) Three Months Ended Six Months Ended Cash Flows from Operating Activities: Income from continuing operations $ 245 $ 260 $ 452 $ 461 Depreciation and amortization 100 90 192 178 Deferred income taxes and income taxes receivable/payable 7 (47 ) 24 (24 ) Pension, net (58 ) (56 ) (117 ) (112 ) Gain on business disposition (4 ) — (4 ) — Changes in assets and liabilities: Accounts receivable, net 38 44 54 10 Inventories (101 ) (117 ) (284 ) (467 ) Accounts payable (8 ) (14 ) 163 107 Captive finance receivables, net (13 ) (15 ) (26 ) 7 Other, net 182 223 (190 ) 201 Net cash from operating activities 388 368 264 361 Cash Flows from Investing Activities: Capital expenditures (78 ) (74 ) (134 ) (140 ) Net proceeds from corporate-owned life insurance policies 26 23 57 26 Net proceeds from business disposition 16 — 16 — Proceeds from sale of property, plant and equipment 9 — 9 3 Net cash used in business acquisitions (1 ) (13 ) (1 ) (13 ) Finance receivables repaid 8 23 17 31 Finance receivables originated (21 ) (7 ) (21 ) (18 ) Proceeds from the disposition of leveraged leases 59 — 59 — Other investing activities, net — — 15 — Net cash from investing activities 18 (48 ) 17 (111 ) Cash Flows from Financing Activities: Net proceeds from long-term debt — — 495 — Principal payments on long-term debt and nonrecourse debt (9 ) (9 ) (364 ) (374 ) Purchases of Textron common stock (214 ) (358 ) (429 ) (675 ) Dividends paid (4 ) (4 ) (7 ) (8 ) Other financing activities, net (5 ) (1 ) (5 ) 48 Net cash from financing activities (232 ) (372 ) (310 ) (1,009 ) Total cash flows from continuing operations 174 (52 ) (29 ) (759 ) Total cash flows from discontinued operations (1 ) (1 ) (1 ) (1 ) Effect of exchange rate changes on cash and equivalents 16 (2 ) 23 (10 ) Net change in cash and equivalents 189 (55 ) (7 ) (770 ) Cash and equivalents at beginning of period 1,245 1,466 1,441 2,181 Cash and equivalents at end of period $ 1,434 $ 1,411 $ 1,434 $ 1,411 Expand TEXTRON INC. Non-GAAP Financial Measures and Outlook (Dollars in millions, except per share amounts) We supplement the reporting of our financial information determined under U.S. generally accepted accounting principles (GAAP) with certain non-GAAP financial measures. These non-GAAP financial measures exclude certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. We believe that these non-GAAP measures may be useful for period-over-period comparisons of underlying business trends and our ongoing business performance, however, they should be used in conjunction with GAAP measures. Our non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define similarly named measures differently. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. We utilize the following definitions for the non-GAAP financial measures included in this release and have provided a reconciliation of the GAAP to non-GAAP amounts for each measure: Segment Profit Segment profit is an important measure used by our chief operating decision maker for evaluating performance and for decision-making purposes. Segment profit for the manufacturing segments excludes the non-service components of pension and postretirement income, net; LIFO inventory provision; intangible asset amortization; interest expense, net for Manufacturing group; certain corporate expenses; gains/losses on major business dispositions; and special charges. The measurement for the Finance segment includes interest income and expense along with intercompany interest income and expense. Adjusted Income from continuing operations, Adjusted Diluted Earnings Per Share and Outlook Adjusted income from continuing operations and adjusted diluted earnings per share exclude LIFO inventory provision, net of tax; intangible asset amortization, net of tax; special charges, net of tax; and gains/losses on major business dispositions, net of tax. LIFO inventory provision is excluded to improve comparability with other companies in our industry who have not elected to use the LIFO inventory costing method. Intangible asset amortization is excluded to improve comparability as the impact of such amortization can vary substantially from company to company depending upon the nature and extent of acquisitions and exclusion of this expense is consistent with the presentation of non-GAAP measures provided by other companies within our industry. Management believes that it is important for investors to understand that these intangible assets were recorded as part of purchase accounting and contribute to revenue generation. We consider items recorded in special charges, such as enterprise-wide restructuring, certain asset impairment charges, and acquisition-related restructuring, integration and transaction costs, to be of a non-recurring nature that is not indicative of ongoing operations. TEXTRON INC. Non-GAAP Financial Measures and Outlook (Continued) (Dollars in millions, except per share amounts) Manufacturing Cash Flow Before Pension Contributions and Outlook Manufacturing cash flow before pension contributions adjusts net cash from operating activities (GAAP) for the following: Deducts capital expenditures and includes proceeds from insurance recoveries and the sale of property, plant and equipment to arrive at the net capital investment required to support ongoing manufacturing operations; Excludes dividends received from Textron Financial Corporation (TFC) and capital contributions to TFC provided under the Support Agreement and debt agreements as these cash flows are not representative of manufacturing operations; Adds back pension contributions as we consider our pension obligations to be debt-like liabilities. Additionally, these contributions can fluctuate significantly from period to period and we believe that they are not representative of cash used by our manufacturing operations during the period. While we believe this measure provides a focus on cash generated from manufacturing operations, before pension contributions, and may be used as an additional relevant measure of liquidity, it does not necessarily provide the amount available for discretionary expenditures since we have certain non-discretionary obligations that are not deducted from the measure. 2025 Outlook Net cash from operating activities - GAAP $ 1,266 — $ 1,366 Less: Capital expenditures (425) Add: Total pension contributions 50 Proceeds from sale of property, plant and equipment 9 Manufacturing cash flow before pension contributions - Non-GAAP $ 900 — $ 1,000 Expand
Yahoo
12-07-2025
- Business
- Yahoo
Goldman Sachs Downgrades Textron (TXT) Stock to Neutral
Textron Inc. (NYSE:TXT) is one of the Top 10 Transportation and Industrial Stocks to Buy Now. Goldman Sachs downgraded the company's stock to 'Neutral' from 'Buy' with a price objective of $85, down from the prior target of $95, as reported by The Fly. The downgrade comes despite the firm's belief in tight business jet supply and demand dynamics as well as the potential earnings contribution from Textron Inc. (NYSE:TXT)'s Future Long-Range Assault Aircraft (FLRAA) program win. A military cargo plane landing at its destination, signifying the strength of its defense arm. Goldman Sachs highlighted that Textron Inc. (NYSE:TXT) seems to be losing its market share in the business jet segment, with its Systems and Industrial divisions showing limited growth potential. As per the analyst, the business jet fundamentals remain strong, but are no longer incrementally improving. Goldman Sachs also pointed out that while Textron Inc. (NYSE:TXT)'s stock continues to trade at lower valuation multiples versus several of its aerospace and defense peers, this valuation gap has persisted for years, and there is no clear catalyst for a change on the horizon. In Q1 2025, Textron Inc. (NYSE:TXT) saw robust growth in military and commercial product lines at Bell, while at Aviation, operations improved as the factory progressed towards pre-strike performance levels while ramping production. Furthermore, at Textron Specialized Vehicles, the company completed the sale of the Powersports business, which includes the Arctic Cat brand and its operations. Textron Inc. (NYSE:TXT) is a leading player in the broader industrial sector since it operates throughout several critical areas of this sector, including aerospace, defense, and manufacturing. While we acknowledge the potential of TXT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-06-2025
- Business
- Yahoo
Toray Reinforces Long-Term Commitment to Aerospace and Defense Innovation at the 2025 Paris Air Show
PARIS, June 4, 2025 /PRNewswire/ -- Toray Industries, Inc., a global leader in advanced high-performance materials, proudly returns to the 55th International Paris Air Show in Le Bourget, France, from June 16 to 22. As the aerospace industry navigates rapid technological shifts, geopolitical uncertainties, and evolving sustainability demands, Toray continues demonstrating its role as a reliable materials provider and a key contributor to long-term industry growth. Discussions at the show will spotlight Toray's continued advancement of composite material solutions that enable next-generation aerospace, defense, and space systems. The Toray product suite, including TORAYCA™ carbon fiber, high-performance thermoset systems, and Toray Cetex® thermoplastic composites, delivers the optimal balance of strength, toughness, processability, and long-term durability while supporting critical qualification and certification requirements. Critical Materials for Mission SuccessToray's advanced materials are qualified across major global defense and space programs – ranging from 5th and 6th-generation fighter aircraft and unmanned aerial systems (UAS) to next-generation missiles, rotorcraft, and orbital systems. Among recent milestones is the selection of Toray's T1100/3960 carbon fiber prepreg for the U.S. Army's Future-Range Assault Aircraft (FLRAA) program to be used in primary airframe structures. Toray's composites deliver the strength, durability, and thermal stability essential to mission-critical systems. Powering the Evolution of AviationToray composite technologies have enabled the widespread adoption of lightweight, fuel-efficient materials for large passenger jets and now play a pivotal role in the development of electric and hybrid propulsion aircraft, including electric Vertical Takeoff and Landing (eVTOL) aircraft. These materials are ideal due to their high strength-to-weight ratio, processing efficiency, and robust qualification data needed for certification. Demonstrating its continued commitment to innovation, Toray recently expanded its portfolio with advanced thermoplastic composites such as Toray Cetex® TC1130 PESU, engineered for aircraft interior applications, and Toray Cetex TC915 PA+™, developed to meet performance demands focused on durability and lightweight design – particularly in urban air mobility (UAM) and UAS platforms. Other product expansions include the TORAYCA™ T1200, ideal for the most demanding applications, with the world's highest tensile strength of 8.0 gigapascals (GPa). The ongoing expansion of manufacturing facilities in France to support the market growth in Europe focuses on standard modulus and high modulus fibers used and qualified in commercial aviation, space, and defense applications. Advanced towpreg products are also available for filament-wound and automated placement manufactured aerostructures. As Toray approaches its 100th anniversary in 2026, the company continues to embody its centennial theme: "Pioneering Change for the World." With nearly a century of proven performance and innovation, Toray continues to provide reliable, high-performance materials that support the future of aviation. Participating Toray Companies:Toray Composite Materials America, manufacturer, and supplier of polyacrylonitrile-based TORAYCA™ carbon fiber and thermoset prepreg materials. Toray Advanced CompositesDeveloper, manufacturer, and supplier of thermoset and thermoplastic-based materials, including prepregs in fabric, unidirectional tape, bulk-molded compounds, and reinforced thermoplastic laminate formats. Toray Carbon Fibers EuropeEuropean manufacturer of TORAYCA™ carbon fiber and pultruded composite materials. About TorayToray is a leading technology and advanced materials innovator. We have contributed to social progress since our foundation in 1926 by creating new value and addressing global challenges by supplying high-value products, including fibers and textiles, resins and films, and carbon fiber composite materials. Our 306 subsidiaries and affiliates worldwide employ almost 48,000 people. View original content to download multimedia: SOURCE Toray Industries, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Axios
21-05-2025
- Business
- Axios
Screaming Eagles will be first to get U.S. Army's MV-75
The 101st Airborne Division at Fort Campbell, Kentucky, will be the first to receive the MV-75 Future Long-Range Assault Aircraft. Why it matters: The Bell Textron-made tiltrotor will replace a significant portion of the Black Hawk helicopter fleet. The yearslong FLRAA competition pitted some of the biggest names in defense against each other. Driving the news: Vice Chief of Staff Gen. James Mingus revealed the plan at the Army Aviation Association of America's conference in Tennessee. "This aircraft changes how we move forces. More importantly, it changes the geometry of ground combat," he said. "And we're not waiting for a distant out-year to make this thing real." "The 101st flies into real-world contested environments, across wide terrain, often without the luxury of fixed support infrastructure. They need speed, endurance, and reliability." Catch up quick: Bell bested a Sikorsky-Boeing team in 2022. The Government Accountability Office denied a contract protest in 2023. Fun fact: The MV-75 designation refers to its multi-mission assignments (air assault, medical evacuation and resupply), its vertical-takeoff-and-landing capabilities and the establishment of the Army in 1775.
