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MarketScreener Homepage  >  Equities  >  Nyse  >  Textron Inc.    TXT

TEXTRON INC.

(TXT)
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TEXTRON : CELEBRATES SUCCESSFUL FLY-AWAY OF FIRST TWO SHIP-TO-SHORE CONNECTORS TO PANAMA CITY, FLA.

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09/10/2020 | 11:32am EDT

New Orleans, La. - Textron Systems Corporation, a Textron Inc. (NYSE: TXT) company, announced today the successful fly-away of its first two next-generation air cushion vehicles, Ship-to-Shore Connector (SSC) Craft 100 and LCAC 101, on September 2. The two craft departed Textron Systems'New Orleans, La., shipyard, where they liaised with U.S. Navy asset Landing Craft, Air Cushion (LCAC) 091 - built by Textron in 2000 - for the last leg of their journey to the Naval Surface Warfare Center in Panama City, Fla.

Prior to this milestone, Craft 100 and LCAC 101 completed Builder's and Acceptance Trials, followed by formal acceptance by the U.S. Navy customer. Craft 100 is intended to serve as a test and training asset for the customer, while LCAC 101 is the first craft for operational use. Currently, twelve additional SSCs are in progress at Textron Systems' shipyard.

'We are proud of the achievement that this fly-away represents as we strive to equip the U.S. Navy and Marine Corps with the unmatched capability set of the SSC,' said Senior Vice President Henry Finneral of Textron Systems. 'The SSC will provide the versatility needed to transport critical personnel, weapon systems, equipment and cargo the last mile, even in the most challenging environments.'

The SSC stands ready to replace the existing legacy fleet as a true upgrade for the LCAC forces at Assault Craft Unit (ACU) 4, ACU 5 and Naval Beach Unit 7. The craft can travel at a sustained 35 knots and has an increased payload capacity and a service life of 30 years. SSC's similar configurations, dimensions and clearances to the legacy LCAC make it compatible with existing well deck-equipped amphibious ships, as well as Expeditionary Transfer Dock and Expeditionary Sea Bases. The SSC's expanded capability set, versatility and built-in compatibility promise a smooth transition for users.

About Textron Systems

Textron Systems is a world leader in unmanned air, surface and land products, services and support for aerospace and defense customers. Harnessing agility and a broad base of expertise, Textron Systems' innovative businesses design, manufacture, field and support comprehensive solutions that expand customer capabilities and deliver value. For more information, visit www.textronsystems.com.

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. For more information, visit www.textron.com.

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, including, but not limited to, the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; and risks related to U.S. Government contracts as described in our filings with the Securities and Exchange Commission.

MEDIA CONTACT

Textron Systems

Public Relations Team

978-657-2020

publicrelations@textronsystems.com

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials (USD)
Sales 2020 11 524 M - -
Net income 2020 228 M - -
Net Debt 2020 1 851 M - -
P/E ratio 2020 34,3x
Yield 2020 0,23%
Capitalization 7 874 M 7 874 M -
EV / Sales 2020 0,84x
EV / Sales 2021 0,74x
Nbr of Employees 35 000
Free-Float 99,4%
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Mean consensus HOLD
Number of Analysts 12
Average target price 39,58 $
Last Close Price 34,53 $
Spread / Highest target 30,3%
Spread / Average Target 14,6%
Spread / Lowest Target 1,36%
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Managers
NameTitle
Scott C. Donnelly Chairman, President & Chief Executive Officer
Frank T. Connor Chief Financial Officer & Executive Vice President
Kimberly A. Mackenroth Chief Information Officer & Vice President
Kathleen M. Bader Lead Independent Director
Paul Ernest Gagné Lead Independent Director
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