Why Textron (TXT) Shares Are Gaining Today - Textron (NYSE:TXT)

Textron Inc TXT reported fourth-quarter FY22 sales growth of 9.5% year-over-year to $3.64 billion, beating the consensus of $3.32 billion.
Revenue by segments: Textron Aviation $1.58 billion (+16.4% Y/Y), Bell $816 million (-4.9% Y/Y), Textron Systems $314 million (+0.3% Y/Y), and Industrial $907 million (+16.1% Y/Y).
EPS of $1.07 beat the consensus of $1.00.
Segment profit increased 2.3% Y/Y to $317 million, and the margin contracted by 61 bps to 8.7%.
Textron generated cash from the operating activities of the manufacturing group of $516 million, compared to $457 million a year ago.
Textron returned $228 million to shareholders through share repurchases during the quarter.
Backlog at the end of the quarter for Aviation was $6.4 billion, Bell was $4.8 billion, and Textron Systems was $2.1 billion.
"2022 was a strong year at Textron with solid revenue growth, order flow and execution at Aviation, new program awards at Systems, higher revenues and operating profit at Industrial and the contract award for the U.S. Army's Future Long Range Assault Aircraft program at Bell," Chair and CEO Scott C. Donnelly said.
FY23 Outlook: Textron expects sales of $14.0 billion, above the consensus of $12.60 billion.
It expects adjusted EPS of $5.00 - $5.20, above the consensus of $4.05.
Price Action: TXT shares traded higher by 3.16% at $71.80 in premarket on the last check Wednesday.
Photo Via Company

Textron Beats Q4 Consensus Backed By Aviation & Industrial Segments; Shares Upbeat FY23 Guidance