Shares of Textron Inc. (TXT, Financial) gained more than 10% on Thursday after announcing fourth-quarter results. The company posted earnings of $1.15 per share on $3.75 billion in revenue, reflecting a 6.7% decline from the prior-year quarter. The company beat earnings estimatesby 17 cents, but fell $250,000 short of revenue expectations.
By segment, Textron Aviation's sales were $1.6 billion, up 12%. Bell revenues were $827 million, down from $983 million last year. At Textron Systems, revenue of $345 million declined from $489 million a year ago. Industrial revenues decreased $131 million and sales in the Finance segment were up $3 million.
Looking ahead, the company expects full-year 2019 revenue of $14 billion and earnings per share between $3.55 and $3.75.
Shares of Xilinx Inc. (XLNX, Financial) gained more than 17% on Thursday after announcing third-quarter results on Wednesday. The company posted earnings of 92 cents per share on $800 million in revenue, marking 33.6% year-over-year growth. The company beat earnings estimates by 7 cents and revenue expectations by $29.57 million.
"I am very excited to report yet another record revenue and earnings quarter. During the third fiscal quarter, we delivered revenues of $800 million, representing 34% year-over-year growth," President and CEO Victor Peng said. "Based on the guidance we are providing for the fiscal fourth quarter, we expect to exceed $3 billion in annual revenues for the first time in our history.”
Looking ahead to the fourth quarter, the company guides for revenue between $810 million and $835 million and a gross margin of 68.5%.
Shares of JetBlue Airways Corp. (JBLU, Financial) gained more than 4% after reporting fourth-quarter earnings of 50 cents per share on $1.97 billion in revenue, reflecting 11.9% year-over-year growth. The company managed to beat earnings estimates by 7 cents and revenue expectations by $10 million.
Revenue per available seat mile rose 2.4% year over year, driven by strong close-in demand trends across the network.
For the full year, JetBlue anticipates capacity will increase between 5% and 7%.
Disclosure:The author holds no positions in any stocks mentioned.
