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

Verified

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 an increase in Q3 revenue to $3.1 billion, with manufacturing segments achieving higher operating profits despite supply chain challenges.
The Textron Aviation division saw strong demand and secured major new jet orders, leading to increased segment profit and a $6.4 billion backlog, also breaking ground on a distribution center expansion.
Bell's vertical lift division had increased commercial helicopter deliveries but lower overall profit due to reduced military orders, while the new eAviation segment reported initial revenue and a loss as it develops sustainable technologies, including the Nexus eVTOL.

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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.