Airplane Deliveries Improve, But Helicopter Revenue Was Down

Textron has released its fourth quarter financial statement showing strong performance from its airplane business, but a decline in revenue from Bell.

Revenues at Textron Aviation of $1.6 billion were up 12%, due to higher volume and mix across the jet and commercial turboprop product lines, as well as favorable pricing.

Textron Aviation delivered 63 jets, up from 58 last year, and 67 commercial turboprops, up from 45 last year. Segment profit was $170 million in the fourth quarter, up from $120 million a year ago, due to the higher volumes and favorable pricing. Textron Aviation's backlog at the end of the fourth quarter was $1.8 billion.

Bell revenues were $827 million, down from $983 million last year, primarily on lower military volume.

Bell delivered 46 commercial helicopters in the quarter, up from 45 last year. Segment profit of $108 million was down $6 million, largely on the lower military volume, but partially offset by favorable performance. The Bell backlog at the end of the fourth quarter was $5.8 billion.

“We had strong execution in both the quarter and full year with significant margin improvements at Aviation, Bell, and Systems,” said Textron Chairman and CEO Scott C. Donnelly. “We were also encouraged by the continued strength in new aircraft demand at Aviation.

“Our outlook reflects the continued improvement in our operations to drive earnings growth and margin expansion. As we look to the future, we are investing for long-term growth to generate increases in shareholder value,” Donnell said.

(Source: Textron news release. Images from file)

FMI: www.textron.com