Textron Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended October 02, 2021
October 28, 2021 at 12:31 pm EDT
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Textron Inc. reported earnings results for the third quarter and nine months ended October 02, 2021. For the third quarter, the company reported revenue was USD 2,990 million compared to USD 2,735 million a year ago. Net income was USD 185 million compared to USD 115 million a year ago. Basic earnings per share was USD 0.83 compared to USD 0.5 a year ago. Diluted earnings per share was USD 0.82 compared to USD 0.5 a year ago.
For the nine months, revenue was USD 9,060 million compared to USD 7,984 million a year ago. Net income was USD 539 million compared to USD 73 million a year ago. Basic earnings per share was USD 2.39 compared to USD 0.32 a year ago. Diluted earnings per share was USD 2.37 compared to USD 0.32 a year ago.
Textron Inc. is a diversified industrial group organized around 5 families of products and services:
- aircraft (34.1% of net sales): business aircraft, turboprop planes, and single-engine piston aircraft;
- military and commercial helicopters (28.4%; Bell). The group also offers logistical support services, technical support services, training, maintenance, and repair services;
- industrial equipment (25.7%): fuel systems, hydraulic power tools, measuring equipment, fiber-optic connectors, golf carts, lawn maintenance equipment, etc.;
- defense and aerospace systems (11.3%): precision weaponry, smart battlefield systems, airborne and underground surveillance systems, aircraft control components, unmanned aircraft systems, shielded vehicles, piston engines, etc.;
- financing services (0.5%).
Net sales break down geographically as follows: the United States (68.2%), Europe (11.5%), Asia and Australia (9.5%) and other (10.8%).
TEXTRON INC. 
