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TEXTRON INC.

(TXT)
  Report
Delayed Nyse  -  04:04 2022-09-30 pm EDT
58.26 USD   -1.34%
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TEXTRON AVIATION AND TAM CELEBRATE 40-YEARS OF OFFERING WORLD-CLASS AIRCRAFT AND SUPPORT IN BRAZIL DURING LABACE 2022, KING AIR 360 MAKES SHOW DEBUT

08/10/2022 | 09:33am EDT

SAO PAULO - Textron Aviation and its longtime regional channel partner TAM Aviacao Executiva are marking 40 years of partnership at this week's Latin American Business Aviation Conference & Exhibition (LABACE) in Sao Paulo, Brazil.

The two companies have been working together since 1982 to deliver world-class aircraft and support to customers throughout the region.

Textron Aviation Inc., is a Textron Inc. (NYSE:TXT) company.

Textron Aviation's presence at LABACE includes the show debut for the Beechcraft King Air 360, which began deliveries in 2020. The rest of the aircraft on display include models that have proven to meet the unique requirements of operators across Latin America, making Textron Aviation the general aviation leader in region.

Aircraft on display from Aug. 9 to 11 at Congonhas Airport: Cessna Citation Latitude, Cessna Citation M2, Cessna Citation CJ3+, Beechcraft King Air 360 and Cessna Grand Caravan EX.

'It's great to be back in-person again and highlight some of our latest product investments at the first LABACE since 2019. This is an excellent opportunity to connect with our existing operators and also exhibit our products that are leaders in our industry. The Latin American market is very important to Textron Aviation as our aircraft account for more than half of the turbine fleet in the region,' said Marcelo Moreira, Textron Aviation vice president of Sales for Latin America. 'Our leadership is based on our commitment to designing, building and supporting the best aircraft in the industry. We're also pleased to have the opportunity this week to celebrate our four-decade relationship with TAM Aviacao Executiva. This is a relationship that has been beneficial to both companies, and we look forward to many more years of success together.'

Textron Aviation continues to be the leader in the Latin America with more than 3,100 turbine aircraft based in the region, including over 1,200 jets and 1,900 turboprops. Demand for new aircraft remains strong throughout the region, especially in Brazil.

Throughout the past five years, more than 250 Textron Aviation aircraft have been delivered in the region. Last year, one quarter of all Textron Aviation turboprop deliveries went to Latin America. Textron Aviation jets also are the leader in Latin America market by representing 46 percent of all jets based in the region.

Flight activity is also increasing. According to industry data, the region has already surpassed pre-pandemic activity from 2019.

About Textron Aviation

We inspire the journey of flight. For more than 95 years, Textron Aviation Inc., a Textron Inc. company, has empowered our collective talent across the Beechcraft, Cessna and Hawker brands to design and deliver the best aviation experience for our customers. With a range that includes everything from business jets, turboprops, and high-performance pistons, to special mission, military trainer and defense products, Textron Aviation has the most versatile and comprehensive aviation product portfolio in the world and a workforce that has produced more than half of all general aviation aircraft worldwide. Customers in more than 170 countries rely on our legendary performance, reliability and versatility, along with our trusted global customer service network, for affordable and flexible flight.

About Textron Inc.

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. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, Textron Systems, and TRU Simulation + Training.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these 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 statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements.

Contact:

Keturah Austin

Tel: +1.316.517.0437

Email: kaustin@txtav.com

Web: www.txtav.com

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2022 13 118 M - -
Net income 2022 858 M - -
Net Debt 2022 1 536 M - -
P/E ratio 2022 14,7x
Yield 2022 0,15%
Capitalization 12 324 M 12 324 M -
EV / Sales 2022 1,06x
EV / Sales 2023 0,97x
Nbr of Employees 33 000
Free-Float -
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Number of Analysts 12
Last Close Price 58,26 $
Average target price 82,17 $
Spread / Average Target 41,0%
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Managers and Directors
Scott C. Donnelly Chief Operating Officer & Executive Vice President
Frank T. Connor Chief Financial Officer & Executive Vice President
Kimberly A. Mackenroth Chief Information Officer & Vice President
E. Robert Lupone Secretary, Chief Compliance Officer & Executive VP
Kathleen M. Bader Independent Director
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