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 increased Q3 revenue of $3.1 billion and higher operating profits across its manufacturing segments, despite ongoing supply chain challenges.
The Textron Aviation division saw a significant rise in segment profit, driven by favorable pricing and major new jet orders, leading to a strong $6.4 billion backlog, while Bell's vertical lift division experienced lower profit and revenue due to decreased military orders.
The company is investing in future growth, with Textron Aviation expanding its distribution center and the new Textron eAviation segment focusing on sustainable technologies and eVTOL development, reporting initial revenues with an operating loss due to R&D costs.

See a mistake? Contact us.

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.