Textron FY24 Outlook: Adjusted EPS From Continuing Operations $6.20-$6.40 Vs. (Cons.: $5.90), Revenue Of $14.6B (Vs. $14.68B Est.)
Portfolio Pulse from Benzinga Newsdesk
Textron Inc. has provided its FY24 outlook, projecting adjusted EPS from continuing operations to be between $6.20 and $6.40, surpassing the consensus estimate of $5.90. The company expects revenue to be around $14.6 billion, which is slightly below the estimated $14.68 billion. Textron's outlook includes higher revenues, increased segment profit, and operating margin expansion, attributing the growth to ongoing investments in new products and programs aimed at enhancing long-term shareholder value.

January 24, 2024 | 11:41 am
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POSITIVE IMPACT
Textron Inc. anticipates a strong FY24 with adjusted EPS significantly higher than consensus estimates and a slight miss on the revenue expectations. The positive outlook is driven by strategic investments in new products and programs.
Textron's higher than expected EPS guidance for FY24 suggests confidence in the company's future performance, which is likely to be viewed positively by investors. The slight miss on revenue forecast may be overlooked due to the strong EPS projection. The company's focus on investments in new products and programs indicates a commitment to growth, which could further bolster investor sentiment. Therefore, the stock price is likely to experience upward pressure in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100