Sees FY23 revenue $14.0B, consensus $12.6B. For 2023, Textron will begin reporting earnings per share on an adjusted basis to exclude LIFO inventory provision and intangible amortization expense, both non-cash items, effective with the Q1 financial results. Sees FY23 net cash provided by operating activities of continuing operations of the manufacturing group $1.3B-$1.4B and manufacturing cash flow before pension contributions, a non-GAAP measure, $900M-$1.0B, with planned pension contributions of about $50M. "The 2023 outlook reflects higher revenues, increased profit and operating margin expansion with a continuation of our growth strategy of ongoing investments in new products and programs to drive increases in long-term shareholder value," said Textron Chairman and CEO Scott C. Donnelly.
Published first on TheFly
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