Textron Blows Out Estimates and Boosts Guidance Significantly (NYSE:TXT)

Описание: Textron (NYSE:TXT) reported Q2 EPS of $0.29, topping consensus estimates of $0.20.

Revenues in the quarter rose 3.7% year-over-year to $2.7 billion, and came in ahead of consensus estimates $2.5 billion.

Textron President and CEO Scott C. Donnelly, "Our sustained focus on operating productivity and ongoing investments in our businesses should position us well for this cycle."

Textron is increasing its forecast of 2010 earnings per share from continuing operations excluding special charges to $0.55 to $0.65 from $0.30 to $0.50, while maintaining its outlook for free cash flow from continuing operations of the manufacturing group in the range of $500 - $550 million. The company also now expects 2010 finance receivables liquidations will be $2.0 billion, up from its previous target of $1.8 billion.

Textron Inc. is a global, multi-industry company with operations in aircraft, defense, industrial products, and finance. The Company's products include airplanes, helicopters, weapons, and automotive products. Textron's finance division offers asset based lending, aviation, distribution, golf, and resort finance, as well as structured capital.

SmarTrend alerted subscribers to take profits in Textron on May 20, 2010 at $19.88, since then the stock fell 9.1%. We are now watching for any positive developments that could result in a new uptrend signal.