Textron: Q4 Earnings Snapshot

Associated Press Finance
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PROVIDENCE, R.I. (AP) — PROVIDENCE, R.I. (AP) — Textron Inc. (TXT) on Wednesday reported fourth-quarter earnings of $198 million.

The Providence, Rhode Island-based company said it had profit of $1 per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $1.60 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.

The maker of Cessna small planes and Bell helicopters posted revenue of $3.89 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $3.92 billion.

For the year, the company reported profit of $921 million, or $4.57 per share. Revenue was reported as $13.68 billion.

Textron expects full-year earnings in the range of $6.20 to $6.40 per share, with revenue expected to be $14.6 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TXT at https://www.zacks.com/ap/TXT

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