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 fourth-quarter and full-year earnings estimates, citing supply chain disruptions, the U.S. military's withdrawal from Afghanistan, and lower aircraft volume as key factors.
Despite the overall financial miss and Q4 declines in segments like Aviation, Bell, Textron Systems, and Industrial, the CEO expressed satisfaction with Textron's 2021 performance, noting strong order flow and execution in other areas.
The company is exploring entry into the eVTOL market, leveraging its existing expertise in vertical lift technology while aiming to strengthen its electric propulsion capabilities.
Textron forecasts higher revenues of approximately $13.3 billion and improved 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.