Why Textron Shares Are Shooting Higher Today
Portfolio Pulse from Nabaparna Bhattacharya
Textron Inc. reported Q2 FY23 sales growth of 8.6% YoY to $3.42 billion, beating the consensus of $3.41 billion. Adjusted EPS of $1.46 also beat the consensus of $1.21. The company's Board of Directors approved a new authorization to repurchase up to 35 million shares. Textron raised its FY23 outlook and expects adjusted EPS from continuing operations to be $5.20-$5.30, up from the previous outlook of $5.00-$5.20. TXT shares traded higher by 10.3% at $75.43.
July 27, 2023 | 3:07 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Textron reported strong Q2 FY23 results, beating sales and EPS consensus. The company also approved a share repurchase program and raised its FY23 outlook, leading to a 10.3% increase in its share price.
Textron's strong Q2 results and positive FY23 outlook indicate a healthy financial performance, which is a positive signal to investors. The approval of a share repurchase program also shows the company's confidence in its stock, which can further boost investor sentiment. These factors likely contributed to the 10.3% increase in Textron's share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100