Q2 2019 Earnings Call Presentation
July 17, 2019
The data in this package should be read in conjunction with the Textron earnings release and accompanying tables.
Forward-Looking Information
Certain statements in this package and other oral and written statements made by Textron from time to time are forward-looking statements, including those that discuss strategies, goals, outlook or other non-historical matters; or project revenues, income, returns or other financial measures. These forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These forward- looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including the risks and uncertainties set forth under "Forward-Looking Information" in our second quarter 2019 earnings release. Additional information on risks and uncertainties that may impact forward-looking statements is discussed under "Risk Factors" in our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q.
Textron Inc. Q2 2019 Earnings Call Presentation; July 17, 2019
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Key Data - Q2 2019
Revenues
Segment Profit
EPS
Manufacturing Cash Flow Before Pension Contributions*
Pension Contributions
Q2 2019 | Q2 2018 | |
$3.2B$3.7B
$339M$346M
$0.93$0.87
$102M$399M
$12M$12M
*Manufacturing cash flow before pension contributions is a non-GAAP measure that is defined and reconciled to GAAP in our earnings release.
Textron Inc. Q2 2019 Earnings Call Presentation; July 17, 2019
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Q2 2019 Revenue Growth
Revenue | Divestiture | Organic | FX Impact | Organic | |
Growth | |||||
Growth | Impact | Growth | Un(Fav) | ||
Before FX | |||||
Textron Aviation | (12.0%) | - | (12.0%) | - | (12.0%) |
Bell | (7.2%) | - | (7.2%) | - | (7.2%) |
Textron Systems | (18.9%) | - | (18.9%) | - | (18.9%) |
Industrial | (17.4%) | 9.0% | (8.4%) | 1.6% | (6.8%) |
Manufacturing | (13.4%) | 2.9% | (10.5%) | 0.5% | (10.0%) |
Finance | (5.9%) | - | (5.9%) | - | (5.9%) |
Total Segments | (13.4%) | 2.9% | (10.5%) | 0.5% | (10.0%) |
Organic Growth includes revenue changes resulting from volume, price, and foreign exchange. For our segments that contract with the U.S. Government, volume represents changes in revenue related to these contracts. Revenues associated with these contracts in 2019 and 2018 are primarily recognized as costs are incurred while revenues for 2017 were primarily recognized as units were delivered.
Textron Inc. Q2 2019 Earnings Call Presentation; July 17, 2019
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Finance Segment Key Statistics
Q2 2019 | Q1 2019 | ||
60+ Delinquency | $12M | $21M |
Non-accrual | $31M | $31M |
Finance Receivables | $802M | $782M |
Shareholders' Equity | $149M | $145M |
Textron Inc. Q2 2019 Earnings Call Presentation; July 17, 2019
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Outlook - Full Year 2019
EPS | $3.65 - $3.85 |
Manufacturing Cash Flow | $700M - $800M |
Before Pension Contributions* | |
Pension Contributions | ~$50M |
*Manufacturing cash flow before pension contributions is a non-GAAP measure that is defined and reconciled to GAAP in our earnings release.
Textron Inc. Q2 2019 Earnings Call Presentation; July 17, 2019
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