Supply Chain Woes Hurt Textron Q3 Deliveries

Textron's CEO told investors on his earnings call that despite supply chain challenges still affecting the company, its manufacturing segments generated higher operating profits than last year.

Michael Wildes

Friday, October 28, 2022 at 04:29 PM ET

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The Textron Aviation division contributed $1.2 billion of the revenue, which was $14 million less than the third quarter of 2021. [Textron Aviation]

Key Takeaways:

Textron Inc. reported a Q3 revenue increase to $3.1 billion and higher operating profits in its manufacturing segments, despite ongoing supply chain challenges.
The Textron Aviation division demonstrated strong demand, securing major new orders, increasing its segment profit, and boosting its backlog to $6.4 billion, while also beginning an expansion of its Wichita distribution center.
Bell, the vertical lift division, experienced a decline in segment profit and revenue due to lower military orders, although commercial helicopter deliveries increased.
Textron is strategically investing in future technologies through its eAviation segment, which reported a loss but unveiled its Nexus eVTOL model as part of its long-term sustainable aircraft development strategy.

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Textron Inc. (NYSE: TXT) shared in its third-quarter earnings Thursday that its collective business segments generated $3.1 billion in revenue for the period, which is $88 million more than it did in the same period last year.

Scott Donnelly, Textron’s chairman and CEO, told investors on his earnings call that despite supply chain challenges still affecting Textron’s business, its manufacturing segments generated higher operating profits than last year.