Providence, RI, January 22, 2025 – Shares of Textron Inc. (TXT, Financial) declines 4.48% on mid-day market trading following its fourth-quarter 2024 financial results today. The company reported a 7.2% decrease of revenues to $3.61 billion only, missed consensus estimate of $3.81 billion.
The net income also down from $198 million to $141 million. The EPS down to $0.76 from $1.01 in the fourth quarter of 2023. For adjusted earnings, Textron has it at $1.34, slightly above consensus expectation of $1.33 per share.
The union strike at Textron's Wichita facility disrupted aircraft deliveries and cause the decline in revenue. During the fourth quarter of 2024, the company only delivered 32 jets ad 38 commercial turboprops. The number was down compared to the same quarter in 2023, when Textron delivered 50 jets and 44 turboprops.
Inflationary pressures and competition from Chinese affordable alternatives also impacted its industrial segment to negative 9.6% in revenue
For 2025 outlook, Textron projected its full-year 2025 revenue of approximately $14.7 billion, one billion above the revenue in 2024 and 2023. The company expected GAAP EPS to be in the range of $5.19 to $5.39 with adjusted EPS between $6.00 and $6.20 below consensus projection of $6.40.
