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)