April 18, 2018 / 12:00 PM / 4 months ago

BRIEF-Textron Reports Q1 EPS of $0.72 From Cont Ops

April 18 (Reuters) - Textron Inc:

* TEXTRON REPORTS FIRST QUARTER 2018 INCOME FROM CONTINUING OPERATIONS OF $0.72 PER SHARE; SIGNS AGREEMENT TO SELL TOOLS & TEST BUSINESS FOR $810 MILLION

* Q1 EARNINGS PER SHARE $0.72 FROM CONTINUING OPERATIONS

* Q1 EARNINGS PER SHARE VIEW $0.48 — THOMSON REUTERS I/B/E/S

* Q1 REVENUE VIEW $3.09 BILLION — THOMSON REUTERS I/B/E/S

* REAFFIRMS FY 2018 EARNINGS PER SHARE VIEW $2.95 TO $3.15 FROM CONTINUING OPERATIONS

* FY2018 EARNINGS PER SHARE VIEW $3.07 — THOMSON REUTERS I/B/E/S

* SAYS AUTHORIZED REPURCHASE OF UP TO 40 MILLION SHARES OF COMPANY’S COMMON STOCK

* SAYS PROCEEDS FROM SALE OF TOOLS & TEST BUSINESS TO BE USED TO FUND ADDITIONAL SHARE REPURCHASES TO OFFSET EARNINGS IMPACT RELATED TO SALE

* SAYS NEW SHARE REPURCHASE AUTHORIZATION REPLACES A PREVIOUS ONE, APPROVED IN JAN 2017, WHICH WAS NEARING COMPLETION

* SAYS BELL BACKLOG AT END OF Q1 WAS $3.6 BILLION

* SAYS TEXTRON AVIATION BACKLOG AT END OF Q1 WAS $1.6 BILLION

* SEES 2018 CASH FLOW FROM CONTINUING OPERATIONS OF MANUFACTURING GROUP BEFORE PENSION CONTRIBUTIONS OF $700 TO $800 MILLION

* SAYS 2018 GUIDANCE INCLUDES EXPECTED IMPACT OF TOOLS & TEST DIVESTITURE ON EPS AND CASH FLOW FROM CONTINUING OPERATIONS

* SAYS INCLUDED IN BUSINESS SALE TO EMERSON ARE ALL TEXTRON TOOLS & TEST BUSINESSES AND BRANDS Source text for Eikon: Further company coverage:

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