Textron Beats Estimates, Swings To $60 Million Profit (TXT)


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Providence, Rhode Island-based Textron Inc. (NYSE: TXT) announced on Wednesday morning that it beat consensus Wall Street estimates.Textron Inc reported that it swung to 4th quarter net income of $60 million, or 19 cents per share, from a net loss of $63 million, or 23 cents per share, a year earlier.Excluding special items, the company's income from continuing operations came in at 33 cents per share.Textron Inc reported revenue of $3.13 billion, up from $2.81 billion a year earlier.According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 25 cents per share, on revenue of $2.84 billion.Textron Inc. (TXT) closed the previous trading day at $27.07 per share. Analysts covering the company's stock give it a consensus price target of $26.68 per share.Textron Inc is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services.Read more from Benzinga's Company news.

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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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Posted In: EarningsNewsIndustrial ConglomeratesIndustrials