Textron said its net income for Q1 2024 was $1.03 per share, compared with $0.92 a year earlier, and its adjusted net income (non-GAAP) was $1.20 per share, compared with $1.05 a year earlier. Net income for the same quarter was $201 million, compared with $191 million a year earlier.

1. 01

   Textron said its net income for Q1 2024 was $1.03 per share, compared with $0.92 a year earlier, and its adjusted net income (non-GAAP) was $1.20 per share, compared with $1.05 a year earlier. Net income for the same quarter was $201 million, compared with $191 million a year earlier.

2. 02

   Textron said its board of directors on April 24, 2024 approved expanding the pre-tax special charge range for its 2023 restructuring plan to $165 million to $170 million from $115 million to $135 million. The company said it expects additional severance costs of $25 million to $30 million in Q2.

3. 03

   Textron said Textron Aviation revenue was $1,188 million (segment profit of $143 million) and Bell revenue was $727 million (segment profit of $80 million) in Q1. Industrial revenue fell to $892 million (segment profit of $29 million) from $932 million (segment profit of $41 million) a year earlier.

4. 04

   Textron said net cash used by operating activities of the Manufacturing group was $30 million in Q1, compared with $153 million of cash provided a year earlier, and that it returned $317 million to shareholders through share repurchases. Principal payments on long-term debt and nonrecourse debt for the Manufacturing group in the same quarter were $352 million.

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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

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