October 18, 2018 / 10:41 AM / a month ago

Textron profit misses on lower aircraft sales

Oct 18 (Reuters) - Textron Inc on Thursday reported a lower-than-expected quarterly profit, partly due to lower sales of its turboprop aircraft.

The Cessna jet maker’s income from continuing operations rose to $563 million, or $2.26 per share, in the third quarter ended Sept. 29 from $159 million, or 60 cents per share, a year earlier.

Excluding the gain on the sale of a business, Textron earned 61 cents per share, below analysts’ average estimate of 76 cents per share, according to Refinitiv data.

Total revenue fell about 8.2 percent to $3.20 billion. (Reporting by Ankit Ajmera in Bengaluru; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below