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Textron Inc. (TXT) Misses on Q4 Earnings and Revenues
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Textron Inc. (TXT - Free Report) , the aerospace and defense company is globally known for its most recognizable and valuable brand names such as the Bell Helicopter. This diversified U.S. conglomerate has a strong presence in diverse areas of business jets and other general aviation aircraft, helicopter and aircraft engines.
However, global political uncertainties and intensifying competition causes of concern.
Earnings Surprise History
Textron has reported earnings surprise of 0.00% in the third quarter. The company reported positive earnings surprises in two of the last four quarters with an average positive surprise of 1.53%.
Revenue Miss: Textron posted revenues of $3.83 million in fourth quarter, compared to our consensus estimate of $3.90 billion.
Key Developments to Note
Textron announced its adjusted earnings guidance for 2017 in the range of $2.50 − $2.70 per share. The company also expects its revenue to be $14.3 billion during 2017, reflecting year over year improvement of 4%.
Stock Price: Following the earnings release, share prices for the company made no significant change in the pre-market trading session.
Check back later for our full write up on this Textron earnings report later!
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Textron Inc. (TXT) Misses on Q4 Earnings and Revenues
Textron Inc. (TXT - Free Report) , the aerospace and defense company is globally known for its most recognizable and valuable brand names such as the Bell Helicopter. This diversified U.S. conglomerate has a strong presence in diverse areas of business jets and other general aviation aircraft, helicopter and aircraft engines.
However, global political uncertainties and intensifying competition causes of concern.
Earnings Surprise History
Textron has reported earnings surprise of 0.00% in the third quarter. The company reported positive earnings surprises in two of the last four quarters with an average positive surprise of 1.53%.
Zacks Rank
Currently, Textron has a Zacks Rank #3 (Hold), but that could definitely change following Textron’s fourth-quarter and full-year 2016 earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings Miss: Our consensus called for fourth quarter EPS of 87 cents, and the company reported EPS of 80 cents.
Textron Inc. Price and EPS Surprise
Textron Inc. Price and EPS Surprise | Textron Inc. Quote
Revenue Miss: Textron posted revenues of $3.83 million in fourth quarter, compared to our consensus estimate of $3.90 billion.
Key Developments to Note
Textron announced its adjusted earnings guidance for 2017 in the range of $2.50 − $2.70 per share. The company also expects its revenue to be $14.3 billion during 2017, reflecting year over year improvement of 4%.
Stock Price: Following the earnings release, share prices for the company made no significant change in the pre-market trading session.
Check back later for our full write up on this Textron earnings report later!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>