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

Providence, Rhode Island-based Textron Inc.

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. (

) 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