Compared to Estimates, Textron (TXT) Q3 Earnings: A Look at Key Metrics
Textron (TXT) reported $3.34 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 8.6%. EPS of $1.49 for the same period compares to $1.06 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.45 billion, representing a surprise of -3.07%. The company delivered an EPS surprise of +17.32%, with the consensus EPS estimate being $1.27.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Textron performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Textron eAviation: $7 million versus $12.84 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +40% change.
Revenues- Manufacturing- Bell: $754 million compared to the $849.70 million average estimate based on four analysts. The reported number represents a change of 0% year over year.
Revenues- Manufacturing- Textron systems: $309 million versus $309.60 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.8% change.
Revenues- Manufacturing- Textron Aviation: $1.34 billion versus $1.38 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.7% change.
Revenues- Finance: $13 million versus $9.03 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +18.2% change.
Revenues- Manufacturing: $3.33 billion versus the four-analyst average estimate of $3.44 billion. The reported number represents a year-over-year change of +8.6%.
Revenues- Manufacturing- Industrial: $922 million compared to the $889.04 million average estimate based on four analysts. The reported number represents a change of +8.6% year over year.
Segment Profit- Textron Aviation: $160 million compared to the $175.61 million average estimate based on four analysts.
Segment Profit- Bell: $77 million versus $68.85 million estimated by four analysts on average.
Segment Profit- Textron Systems: $41 million versus the four-analyst average estimate of $34.28 million.
Segment profit- Industrial: $51 million versus $44.37 million estimated by four analysts on average.
Segment profit- Manufacturing: $310 million compared to the $305.20 million average estimate based on four analysts.
View all Key Company Metrics for Textron here>>>
Shares of Textron have returned -5.8% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Textron Inc. (TXT) : Free Stock Analysis Report
