Textron reports Q1 adjusted EPS $1.20, consensus $1.13

Reports Q1 revenue $3.14B, consensus $3.1B. In Q1, Textron incurred $14M in special charges under the 2023 restructuring plan, largely related to headcount reductions in light of the cancellation of the Shadow and FARA programs in the quarter. “In the quarter, we saw profit growth across our Aviation, Bell, and Systems businesses,” said CEO Scott Donnelly. “At Aviation, we saw continued strong market demand which contributed to $177M in backlog growth. At Bell, we saw revenue growth driven by the FLRAA program.”