Textron Sees Higher Overall Revenues for Q3

Textron has reported that revenues for its aviation unit were up $171 million compared to last year's third quarter.

Kate O'Connor

Tuesday, October 31, 2023 at 06:02 PM ET

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Textron’s combined jet and turboprop deliveries were up for the third quarter of 2023. [Courtesy: Textron Aviation]

Key Takeaways:

Textron Aviation reported a strong Q3 with revenues up to $1.3 billion and a $160 million profit, driven by favorable pricing, higher commercial turboprop deliveries, and its strongest order quarter of the year.
Bell Textron's Q3 revenues remained flat at $754 million due to significant declines in commercial helicopter deliveries, attributed to supply chain constraints, though partially offset by higher military volume.
Overall, Textron achieved higher revenues and net operating profit for the quarter, primarily driven by growth in its Aviation, Industrial, and Systems divisions, despite a $19 million loss in its eAviation unit from R&D costs.

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Textron Aviation has reported that revenues for its aviation unit were up $171 million compared to last year’s third quarter, coming in at $1.3 billion.

Textron, representing Cessna and Beechcraft models, delivered 39 jets and 38 commercial turboprops for Q3 2023, an overall net improvement over the 39 jets and 33 turboprops in Q3 2022. The segment logged a quarterly profit of $160 million, which the company attributed to favorable pricing and higher volume. The aviation unit ended the quarter with a backlog of $7.4 billion.