Textron Reports Weak Q1 Results, Misses Estimates
Автор: FinancialNewsOnline
Загружено: 2011-04-20
Просмотров: 27
Описание:
Textron (NYSE:TXT) reported Q1 EPS of $0.10, missing the consensus estimate for $0.17 per share. Revenue for the quarter was up 12.2% year-over-year to $2.48 billion, also coming in below the consensus estimate for $2.51 billion.
The company reiterated its full year 2011 EPS estimate of $1.00 to $1.15, vs. the consensus estimate for $1.17 per share.
"First quarter results benefited from strong execution and cost performance at Bell, Systems and Industrial," said Textron Chairman and CEO Scott C. Donnelly. He added, "However, at Cessna, low production and delivery levels led to an operating loss in the quarter. Looking forward, we expect improved profitability as volumes recover and the impacts of our continuing cost reduction and productivity programs take effect."
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