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Aerospace and defense company Textron (NYSE:TXT) will be reporting earnings tomorrow before the bell. Here’s what you need to know.
Textron missed analysts’ revenue expectations by 5.9% last quarter, reporting revenues of $3.61 billion, down 7.2% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations.
Is Textron a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Textron’s revenue to grow 3.1% year on year to $3.23 billion, in line with the 3.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.14 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Textron’s peers in the aerospace segment, some have already reported their Q1 results, giving us a hint as to what we can expect. AAR delivered year-on-year revenue growth of 19.5%, missing analysts’ expectations by 2.8%, and Boeing reported revenues up 17.7%, falling short of estimates by 0.8%. AAR traded down 16.3% following the results.
Read our full analysis of AAR’s results here and Boeing’s results here.
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