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Textron Inc (TXT.N)

TXT.N on New York Stock Exchange

46.66USD
21 Apr 2017
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Latest Key Developments (Source: Significant Developments)

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

Arctic Cat says they will become part of Textron's specialized vehicles business
Wednesday, 25 Jan 2017 06:32am EST 

Arctic Cat Inc :Says Arctic Cat will become part of Textron's specialized vehicles business.  Full Article

Textron sees FY 2017 revenue about $14.3 billion
Wednesday, 25 Jan 2017 06:02am EST 

Textron Inc : Textron reports fourth quarter 2016 results; enters agreement to acquire Arctic Cat Inc.; announces 2017 financial outlook . Q4 earnings per share $0.78 from continuing operations . Sees FY 2017 revenue about $14.3 billion . Q4 revenue $3.8 billion versus I/B/E/S view $4.05 billion . Q4 earnings per share view $0.87 -- Thomson Reuters I/B/E/S . Q4 adjusted non-GAAP earnings per share $0.80 from continuing operations excluding items . Textron Inc - 2017 GAAP earnings per share from continuing operations will be in range of $2.40 to $2.65, or $2.50 to $2.70 on an adjusted basis . Textron aviation backlog at end of Q4 was $1.0 billion, down $73 million from end of Q3 . Bell backlog at end of Q4 was $5.4 billion, up $416 million from end of Q3 . Textron Inc - Announced that it has reached a definitive agreement to acquire Arctic Cat Inc. . Textron Inc says has agreed to make a cash tender offer for all outstanding shares of Arctic Cat common stock at a price of $18.50 per share . Textron Inc says board of directors approved a new authorization for repurchase of up to 25 million shares . Textron Inc - Cash transaction valued at approximately $247 million, plus assumption of existing debt . FY2017 earnings per share view $2.93, revenue view $14.39 billion -- Thomson Reuters I/B/E/S.  Full Article

More From Around the Web

Textron misses revenue estimates, cuts earnings forecast

Textron Inc reported lower-than-expected quarterly revenue, hurt by a decline in sales in its aviation and Bell helicopter businesses, and the company lowered full-year earnings forecast to reflect its Arctic Cat Inc acquisition.