Q4 2024 Textron Inc Earnings Call Transcript
Key Points
- Textron Inc (TXT) reported a year-end backlog of $17.9 billion, up $4 billion from 2023, indicating strong future demand.
- The Aviation segment secured a significant order from Naval Air Systems Command for 26 Beechcraft King Air 260s, boosting its backlog.
- Bell segment experienced a 13.7% increase in revenues for the year, driven by the expansion of the FARA program.
- Textron Systems achieved a 13.5% segment profit margin and secured multiple contracts, including a $960 million contract from the Naval Sea Systems Command.
- The company is projecting a 7% revenue growth for 2025, with expected revenues of about $14.7 billion and adjusted EPS in the range of $6 to $6.20.
- Revenues in Q4 2024 were $3.6 billion, down from $3.9 billion in the same quarter of the previous year.
- Segment profit in Q4 2024 was $283 million, a decrease of $101 million compared to Q4 2023.
- Manufacturing cash flow before pension contributions was $306 million in Q4 2024, down $74 million from the previous year.
- The Industrial segment faced lower revenues and operating profit due to ongoing softness in specialized vehicles end markets.
- Textron eAviation reported a segment loss of $22 million in Q4 2024, primarily due to research and development expenses on new products.
Good morning, everyone. Welcome to the Textron Q4 2024 earnings release call. (Operator Instructions) Also, today's call is being recorded. (Operator Instructions)
Now at this time, I'll turn things over to Mr. Dave Rosenberg, Vice President, Investor Relations. Please go ahead, sir.
Thanks, Bo, and good morning, everyone. Before we begin, I'd like to mention we will be discussing future estimates and expectations during our call today. These forward-looking statements are subject to various risk factors, which are detailed in our SEC filings and also in today's press release.
On the call today, we have Scott Donnelly, Textron's Chairman and CEO; and Frank Connor, our Chief Financial Officer. Our earnings call presentation can be found in the Investor Relations section of our website.
Revenues in the quarter were $3.6 billion, down from $3.9 billion in last year's fourth quarter. Segment profit in the quarter was $283 million, down $101 million from the fourth quarter
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