Textron Q1 2024 Adj EPS $1.20 Misses $1.23 Estimate, Sales $3.135B Miss $3.295B Estimate
Portfolio Pulse from Benzinga Newsdesk
Textron (NYSE:TXT) reported Q1 2024 adjusted EPS of $1.20, missing the $1.23 estimate, and sales of $3.135B, below the $3.295B estimate. This represents a 14.29% increase in EPS and a 3.67% increase in sales from the same period last year.
April 25, 2024 | 10:40 am
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NEGATIVE IMPACT
Textron reported a Q1 2024 adjusted EPS of $1.20, missing estimates by 2.44%, and sales of $3.135B, missing estimates by 4.85%, despite year-over-year growth in both metrics.
Missing both EPS and sales estimates can negatively impact investor sentiment and stock price in the short term, despite the year-over-year growth. The miss on these key financial metrics suggests potential challenges in meeting market expectations, which could lead to a decrease in stock price as investors adjust their valuations.
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