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Textron (TXT) Beats on Q1 Earnings & Revenue Estimates

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Textron Inc. (TXT - Free Report) , the aerospace and defense company is globally known for its most recognizable and valuable brand names such as the Bell Helicopter. This diversified U.S. conglomerate has a strong presence in diverse areas of business jets and other general aviation aircraft, helicopter and aircraft engines.

However, global political uncertainties and intensifying competition causes of concern.

Textron Inc. Price and EPS Surprise

Textron Inc. Price and EPS Surprise | Textron Inc. Quote

Earnings Surprise History

Textron has reported a negative earnings surprise of 3.90% in the fourth quarter. However, the company reported positive earnings surprises in two of the last four quarters with an average positive surprise of 2.51%.

Zacks Rank

Currently, Textron has a Zacks Rank #3 (Hold), but that could definitely change following Textron’s first-quarter 2018 earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have mentioned below some of the vital information from this just-revealed announcement:

Earnings Beat: Our consensus called for first-quarter EPS of 46 cents, and the company reported EPS of 72 cents.

Revenue Beat: Textron posted revenues of $3.30 billion in first-quarter, compared to our consensus estimate of $3.11 billion.

Key Developments to Note

Textron has reiterated its guidance for 2018. The company continues to expect 2018 earnings per share from continuing operations in the range of $2.95 - $3.15 per share.

Stock Price:  Following the earnings release, share prices for the company made no significant change in the pre-market trading session.

Check back later for our full write up on this Textron earnings report later!

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