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 $3.1 billion in third-quarter revenue, an increase from the previous year, with manufacturing segments generating higher operating profits despite ongoing supply chain challenges.
Textron Aviation experienced a slight revenue decrease due to lower deliveries but saw increased segment profit, driven by favorable pricing and significant new orders that boosted its backlog to $6.4 billion.
Bell (vertical lift division) delivered more commercial helicopters but reported lower revenue and profit due to declining military orders, while the new eAviation segment recorded a loss as it focuses on developing sustainable technologies like 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.