Textron Q3 Adj EPS $1.49 Beats $1.29 Estimate, Sales $3.34B Miss $3.48B Estimate
Portfolio Pulse from Benzinga Newsdesk
Textron (NYSE:TXT) reported Q3 adjusted earnings of $1.49 per share, beating the analyst consensus estimate of $1.29 by 15.5%. This is a 40.57% increase from the same period last year. However, the company's quarterly sales of $3.34 billion missed the analyst consensus estimate of $3.48 billion by 3.94%, though it's an 8.61% increase from last year.
October 26, 2023 | 10:32 am
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Textron's Q3 earnings beat estimates, but sales missed expectations. Earnings per share increased by 40.57% YoY, while sales increased by 8.61% YoY.
Textron's Q3 earnings beat analyst estimates, which is positive for the stock. However, the company's sales missed estimates, which is negative. The net effect could be neutral in the short term as investors weigh the stronger earnings against the weaker sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100