AI English summary of an SEC filing — figures as filed
Textron TXTThe company said revenue rose 6% in 2023 from 2022, reflecting higher pricing at Textron Aviation, Industrial and Bell and higher volume and mix at Industrial. Segment profit increased 17%, and backlog grew 5% to $13.9 billion.
Key points
AI summaryThe company said revenue rose 6% in 2023 from 2022, reflecting higher pricing at Textron Aviation, Industrial and Bell and higher volume and mix at Industrial. Segment profit increased 17%, and backlog grew 5% to $13.9 billion.
Textron Aviation said its revenue increased $300 million (6%) in 2023, as higher pricing of $335 million was partly offset by lower volume and mix of $35 million. The company said it delivered 168 Citation jets and 178 commercial turboprops in 2022.
The company said Industrial segment revenues rose $376 million (11%) in 2023, and segment profit increased $73 million (47%). Pricing, net of inflation, contributed $58 million, and volume and mix contributed $54 million. Performance partially offset these gains, with an impact of $40 million.
The company said cash flow from operating activities for the Manufacturing group was $1,270 million in 2023, down from $1,461 million in 2022. In financing activities, it paid $1,168 million to repurchase 16.2 million shares of common stock, partly offset by $348 million in net proceeds from long-term debt issuance.
Key figures
Fiscal year ended December 30, 2023
- Revenue
- $13.7B
- Net income
- $921M
- EPS
- $4.56
- Operating cash flow
- $1.3B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
2023 Revenue Up 6%, Segment Profit Up 17%
The company said revenue rose 6% in 2023 from 2022, reflecting higher pricing at Textron Aviation, Industrial and Bell and higher volume and mix at Industrial. Segment profit increased 17%, and backlog grew 5% to $13.9 billion.
Source · Based on the MD&A text of the filing
Textron Aviation Revenue Up $300 million
Textron Aviation said its revenue increased $300 million (6%) in 2023, as higher pricing of $335 million was partly offset by lower volume and mix of $35 million. The company said it delivered 168 Citation jets and 178 commercial turboprops in 2022.
Source · Based on the MD&A text of the filing
Industrial Profit Up 47%
The company said Industrial segment revenues rose $376 million (11%) in 2023, and segment profit increased $73 million (47%). Pricing, net of inflation, contributed $58 million, and volume and mix contributed $54 million. Performance partially offset these gains, with an impact of $40 million.
Source · Based on the MD&A text of the filing
Manufacturing Operating Cash Flow and Share Repurchases
The company said cash flow from operating activities for the Manufacturing group was $1,270 million in 2023, down from $1,461 million in 2022. In financing activities, it paid $1,168 million to repurchase 16.2 million shares of common stock, partly offset by $348 million in net proceeds from long-term debt issuance.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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