Textron cleared analyst expectations for both profit and revenue in the second quarter, with higher aircraft pricing and a thriving Bell helicopter business leading the way, the company announced Tuesday.
The Bell division has been receiving a significant boost from the Bell V-280 Valor program, which the U.S. Army has designated as the MV-75 future long-range assault aircraft. Revenue from commercial helicopters, parts, and services within that unit also climbed during the quarter.
Overall, the Bell segment — which produces helicopters and tiltrotors — saw its quarterly revenue grow 6% compared to the same period last year.
Textron’s broader aviation segment, responsible for manufacturing Cessna business jets and Beechcraft aircraft, posted a 1% quarterly revenue increase. Strong demand for aftermarket services and improved aircraft pricing helped make up for a dip in jet deliveries.
The Textron Systems segment saw revenue climb 7% year-over-year, while the industrial segment recorded a 1% increase.
In total, Textron’s second-quarter revenue reached $3.83 billion — a 7% jump from a year ago and slightly above the $3.8 billion average estimate compiled by LSEG.
The company’s adjusted earnings came in at $1.62 per share for the quarter, beating analyst expectations of $1.55 per share.
Looking ahead, Textron maintained its full-year adjusted earnings forecast in the range of $6.40 to $6.60 per share, compared to the analyst consensus estimate of $6.52 per share.
