UPDATE: Textron Posts Downbeat Q1 Earnings, Lowers Forecast

Textron

reported a 0.8% rise in its first-quarter earnings and cut its full-year earnings from continuing operations forecast to $1.90 to $2.10 per share Textron's quarterly profit rose to $119 million, or $0.41 per share, from $118 million, or $0.40 per share, in the year-ago period. Its earnings from continuing operations declined to $0.40 from $0.41 per share. Its revenue came in at $2.86 billion. However, analysts were expecting earnings of $0.45 per share on revenue of $2.89 billion. Textron shares fell 6.61% to $27.40 in pre-market trading.