Textron Q4 Adj. EPS $1.60 Beats $1.54 Estimate, Sales $3.89B Miss $3.95B Estimate
Portfolio Pulse from Benzinga Newsdesk
Textron Inc. (NYSE:TXT) reported Q4 adjusted EPS of $1.60, surpassing the consensus estimate of $1.54 by 3.9%. Year-over-year, this represents a 30.08% increase from $1.23 per share. However, quarterly sales of $3.89B fell short of the expected $3.95B by 1.47%, though they were up 7.04% from $3.64B in the same quarter last year.
January 24, 2024 | 11:35 am
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NEUTRAL IMPACT
Textron reported higher-than-expected Q4 adjusted EPS at $1.60, beating estimates by 3.9% and showing a significant increase from the previous year. However, sales missed estimates by 1.47%, though they were higher YoY.
The positive earnings surprise could lead to a short-term positive sentiment, as the EPS beat may outweigh the slight miss in sales. However, the miss on revenue estimates could temper gains, leading to a neutral score. The relevance is high as the news is directly about Textron's financial performance. The importance is significant as earnings reports are critical for investors, but not at the highest level due to the mixed results. Confidence in this analysis is high due to the clear-cut nature of earnings reports and their typical impact on stock prices.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100