Textron Says Varied Factors Caused Company to Miss Q4, 2021 Projections

The aviation recovery did help, but troubles from other segments hurt overall results.

Michael Wildes

Thursday, January 27, 2022 at 01:02 PM ET

Verified

Textron's fourth-quarter earnings totaled $3.32 billion. [Courtesy: Textron Aviation]

Key Takeaways:

Textron missed its Q4 and full-year 2021 earnings targets, primarily due to supply chain disruptions, lower aircraft volume, and the impact of the U.S. military's withdrawal from Afghanistan.
Despite the financial miss, CEO Scott Donnelly expressed satisfaction with overall company performance, noting strong order flow in Aviation and solid execution in Bell, Systems, and Industrial segments.
Looking ahead, Textron plans to leverage existing expertise to enter the eVTOL market and forecasts an increase in revenues and earnings per share for 2022.

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On its fourth-quarter earnings call Thursday, Textron Inc. (NYSE: TXT) cited supply chain disruptions, the U.S. military’s withdrawal from Afghanistan, and lower aircraft volume as some of the reasons it missed its fourth-quarter and full-year earnings estimate.

The company reported revenue of $3.32 billion for the fourth quarter, compared to analysts’ estimate of $3.44 billion. For all of 2021, revenues were $12.38 billion, less than analysts’ predictions of $13.3 billion.