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Textron Inc (TXT.N)

TXT.N on New York Stock Exchange

48.16USD
26 May 2017
Change (% chg)

$-0.01 (-0.02%)
Prev Close
$48.17
Open
$48.07
Day's High
$48.50
Day's Low
$47.95
Volume
203,075
Avg. Vol
407,863
52-wk High
$50.93
52-wk Low
$34.00

Latest Key Developments (Source: Significant Developments)

Textron says restructuring plan announced in Q3 2016 to impact about 2,000 positions
Wednesday, 26 Apr 2017 03:49pm EDT 

April 26 (Reuters) - Textron Inc ::Upon completion, total headcount reduction under restructuring plan announced in Q3 2016 expected to be about 2,000 positions - SEC filing.In connection with acquisition of Arctic Cat, initiated a restructuring plan in first quarter of 2017.As a result of Q1 restructuring plan, recorded $19 million of severance costs in Q1 2017, expect to incur additional $8 million restructuring costs.Estimate that company will incur total special charges of approximately $30 million related to Arctic Cat deal.  Full Article

TEXTRON SETS QUARTERLY DIVIDEND OF $0.02 PER SHARE
Wednesday, 26 Apr 2017 10:20am EDT 

April 26 (Reuters) - Textron Inc :SETS QUARTERLY DIVIDEND OF $0.02 PER SHARE.  Full Article

Textron says most demand for business jets is still U.S. centric - Conf Call
Wednesday, 19 Apr 2017 08:37am EDT 

April 19 (Reuters) - Textron Inc :Says encouraged by the pricing trends in the quarter in aviation business.Says experienced a sequential increase in price across all Citation and King Air models.Says its second production Scorpion aircraft had a successful first flight earlier this week, and will enter the flight test program.Says King Air sales were weaker-than-expected in Q1; economic uncertainty and strength of the dollar hurt King Air sales in international markets.Says most demand in its aviation business is still U.S. centric.Says, though economic sentiment appears positive in the U.S., folks are waiting to see what's going to happen on the tax reform side.Says continuing conversation with international customers regarding Scorpion.Says pricing in the used business jet market has been stable .Says some international customers deferred purchase of King Airs in Q1, partly due to strength of the dollar; continues to expect to hit 2017 unit sales target for King Airs.  Full Article

Textron reports Q1 2017 revenue of $3.1 billion
Wednesday, 19 Apr 2017 06:30am EDT 

April 19 (Reuters) - Textron Inc :Textron reports first quarter 2017 results; updates 2017 financial outlook for Arctic Cat acquisition.Q1 revenue $3.1 billion versus I/B/E/S view $3.2 billion.Q1 earnings per share $0.37 from continuing operations.Q1 adjusted non-GAAP earnings per share $0.46 from continuing operations.Q1 earnings per share view $0.51 -- Thomson Reuters I/B/E/S.Textron aviation backlog at end of Q1 was $1.0 billion, approximately flat from end of Q4.Textron Inc - Company now expects full-year 2017 GAAP earnings per share from continuing operations in a range of $2.22 to $2.45.Bell backlog at end of Q1 was $5.7 billion, up $292 million from end of Q4.Textron Inc - During this year's Q1, company recorded $37 million of pre-tax special charges ($0.09 per share, after-tax)..Textron - Still expects net cash provided by operating activities of continuing operations of manufacturing group of $1,045 million to $1,145 million for FY.Textron Inc - Now expects full-year 2017 earnings per share from continuing operations $2.40 to $2.60 on an adjusted basis.Textron - Also estimates that it will record 2017 full-year arctic cat pretax acquisition and restructuring costs of $30 million on special charges line.FY2017 earnings per share view $2.57 -- Thomson Reuters I/B/E/S.  Full Article

Textron announces acquisition of Arctic Cat
Monday, 6 Mar 2017 05:25pm EST 

Textron Inc :Textron announces acquisition of Arctic Cat, a leading company in the recreational vehicle industry.  Full Article

Textron files for potential notes offering due 2027 - SEC filing
Monday, 27 Feb 2017 08:30am EST 

Textron Inc :Files for potential notes offering due 2027; size not disclosed - sec filing.  Full Article

Textron says awarded 5-yr follow-on contract from U.S. Air force
Tuesday, 7 Feb 2017 09:16am EST 

Textron Inc :Awarded a five-year follow-on contract from U.S. Air force for Afghan trainer contractor logistics support.  Full Article

Textron unit offers to buy Arctic Cat at $18.50/shr - SEC filing
Thursday, 2 Feb 2017 08:15am EST 

Arctic Cat Inc : Aces Acquisition Corp - offering to purchase all outstanding shares, par value $0.01 per share of Arctic Cat at a price of $18.50/share - SEC filing . Aces Acquisition Corp says there is no financing condition to the offer for Arctic Cat .Aces Acquisition Corp., is a direct wholly owned subsidiary of Textron Specialized Vehicles Inc, which is a direct wholly owned subsidiary of Textron Inc.  Full Article

Arctic Cat upon termination of deal under specified circumstances to pay Textron of $7.4 mln
Wednesday, 25 Jan 2017 09:02am EST 

Arctic Cat Inc :Arctic Cat -upon termination of deal under specified circumstances, co will be required to pay Textron a termination fee of $7.4 million.  Full Article

Textron says price pressure in Q4 hurt business jet volume - Conf call
Wednesday, 25 Jan 2017 09:00am EST 

Textron Inc : Says expect growth in industrial and systems businesses in 2017, with flat revenue at Bell and aviation units . Says lowering production in 2017 for certain Citation model aircraft, excluding Latitude jets . Says lot of price pressure in Q4 on rest of Citation jets, other than Latitude, hurt volume; Says co was not willing to sell its jets at such low price levels Further company coverage: [TXT.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

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BRIEF-TEXTRON SETS QUARTERLY DIVIDEND OF $0.02 PER SHARE

* SETS QUARTERLY DIVIDEND OF $0.02 PER SHARE Source text for Eikon: Further company coverage: